Man Industries surges over 19% intraday on Rs 510 crore export order

MUMBAI: Shares of Man Industries ended over 14 per cent up in trade after the company bagged export order worth Rs 510 crore from international market for oil & gas sector.

The stock surged 19% intraday.

“With the new order, the outstanding executable order book as on date stands at approximately at Rs 1300 crore. The new order intake will result in significant improvement in performance of the company in the current financial year,” the company said in a filing to the stock exchanges.

The company has outstanding bids over $2 billion at various stages of evaluation for several other oil, gas and water projects in India and abroad.

RC Mansukhani Group Chairman, Man Industries, in an interview to ET Now said, the company has visibility for better topline on the back of order wins. He expects orderbook to remain at Rs 1,300 crore and hopes export growth to remain robust.