Man Industries secures order worth Rs 750 crore

Man Industries India Limited, part of the well-diversified UK-based Man Group, has secured two new orders worth Rs 750 crore from different firms for supplying pipes.

The company has bagged first orders worth Rs 200 crore from GAIL, while the second order worth Rs 550 crore has been secured from the Middle East and African continent.

With the latest order the company's total order book stands about Rs 2,500 crore.

Market experts believe that the company has done well in the recent past and its management is confident of charting out a strong growth path in the near future by focusing on niche market in the oil and gas sector.

The shares of Man Industries closed on Friday at Rs 52 on BSE, up 10% compared to its previous close of Rs 47.