Man Industries shares spurt on order gains

NEW DELHI: The shares of Man Industries ended 5.07 per cent higher in an otherwise flat market in morning trade on Thursday after the company received orders worth Rs 700 crore for supply of pipes for oil, gas and water sector projects from international as well as domestic customers.

Chairman RC Mansukhani said the orders will help expand the company’s Ebitda margins to the 12-14 per cent range, while this year's revenue growth is likely to be in the range of 25-30 per cent.

Some 12,22,963 shares changed hands on the counter on NSE within the first hour of trade.