Regardless of delivering multibagger returns of round 165 per cent over the previous yr, the inventory is presently buying and selling round 25 per cent under its 52-week excessive of Rs 459 on the BSE.
Home indices opened decrease at the moment and prolonged their losses, impacted by vital declines within the banking, monetary providers, data expertise, and auto sectors. Investor confidence was subdued throughout broader indices as nicely.
Nevertheless, one Small-Cap The corporate, Man Industries (India) Ltd, attracted vital consideration after saying in a press launch that it has secured new orders value roughly Rs 490 crore for the availability of varied varieties of pipes. The corporate additionally said that its complete unexecuted order e book now stands at round Rs 2,600 crore, set to be executed over the following 6-8 months.
Shares of Man Industries (India) Ltd noticed a major rise in shopping for curiosity, climbing greater than 8 per cent from the intraday low to succeed in an intraday excessive of Rs 351.95 per share on the BSE. Regardless of delivering multibagger Returns of round 165 per cent over the previous yr, the inventory is presently buying and selling round 25 per cent under its 52-week excessive of Rs 459 on the BSE.
Man Industries (India) Ltd is a famend world producer within the line pipe business, specializing within the manufacturing of large-diameter carbon metal SAW pipes. The corporate has manufactured and equipped over 13,000 kilometres of pipes globally for numerous purposes, adhering to all worldwide challenge requirements. Its main focus is on the manufacturing and coating of large-diameter carbon metal pipes and ERW pipes, together with ventures in infrastructure, realty, and buying and selling. The group can also be increasing its operations into core sectors similar to power, mining, and hospitality, amongst others.
Hold an in depth eye on the inventory within the upcoming buying and selling classes!
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