Latest news with #ElectricResistanceWelded

Business Standard

Man Industries share price zooms 6% in trade today, June 5; here's why

Man Industries share price: Pipe maker Man Industries shares jumped up to 6.05 per cent to hit an intraday high of 418.45 However, at 1:40 PM, Man Industries shares were off highs, and were trading 1.55 per cent higher at 400.65 per share. In comparison, BSE Sensex was trading 0.44 per cent higher at 81,355.06 level. Why are Man Industries shares buzzing in trade today? Man Industries share prices were buzzing in trade after the company announced that it has secured an order worth approximately ₹1,150 crore from an international customer. In an exchange filing, Man Industries said, 'We are pleased to inform you that the company has received a new export order for approximately ₹1,150 crore. This order is expected to be delivered during the next 6 to 12 months.' 'This order significantly demonstrates the robust strength and market credibility in global markets and highlights Man Industries' growing reputation as a trusted supplier in the international pipeline industry,' Man Industries highlighted. According to the order details, the company will be responsible for supplying different types of pipes to a respected international customer. Notably, the work is expected to be completed within the next 6 to 12 months. Man Industries' total unexecuted order book now stands at approximately ₹3,500 crore, including today's order. 'The start of the year is proving exceptionally strong for Man Industries, highlighted by the multiple orders totalling approximately ₹3,500 crore. These are testimonial to our steadfast focus on delivering product excellence and timely deliveries. We expect this momentum to continue during the year, such projects are also testament to the prowess of Man Industries and our cutting-edge technological capabilities,' said Nikhil Mansukhani, managing director of Man Industries. The development, Man Industries believes, marks yet another milestone in the company's journey toward expanding its global presence and serving strategic infrastructure and energy sectors worldwide. About Man Industries Man Industries, the flagship company of the Man Group, was established by the Mansukhani family in 1970. Under the leadership of R C Mansukhani, the group began its journey as an aluminum extrusions manufacturer in 1988 and has since evolved into a key player in the global line pipe industry. Today, Man Industries is one of the leading manufacturers and exporters of large-diameter carbon steel pipes—including Longitudinal Submerged Arc Welded (LSAW), Helically Submerged Arc Welded (HSAW), and Electric Resistance Welded (ERW) pipes. These products are widely used in high-pressure transmission applications across the oil & gas, petrochemical, water, fertilizers, dredging, and city gas distribution (CGD) sectors. The company operates three state-of-the-art manufacturing facilities. Two are located in Anjar, Gujarat—one equipped with two LSAW and two HSAW lines, and another focused on ERW pipe production (both API and non-API). The third facility is in Pithampur, Madhya Pradesh. Combined, these units offer an installed capacity of over 1.18 million tonnes per annum (MTPA). To diversify its product portfolio, Man Industries is investing around ₹600 crore to set up new capacities. This includes a stainless-steel seamless pipe manufacturing unit in Jammu and a new integrated line pipe and coating facility in Dammam, Saudi Arabia, aimed at serving the growing Middle East market.