Shares of Man Industries skyrocketed 10% and hit a 52-week high of Rs 513.70 on 8 July after the company announced securing a significant order worth Rs 1,850 crore. 

In its regulatory filing, the company said, “The firm has received a prestigious line pipe order of approximately Rs 1,850 crore which is the largest single order in the company’s history.”

A well-known worldwide oil and gas company chose Man Industries to deliver premium API5L grade line pipes for this major offshore project. This order is anticipated to be fulfilled within the next twelve to eighteen months.

As of 8 July, the company’s total unexpected order book stands at Rs 4,000 crore. 

The company’s facility in Anjar, Gujarat, received CE certification from Bureau Veritas, France, in June 2024.

The European Union’s strict safety and quality standards for API 5L SAW and ERW Lines for Oil & Gas applications are validated by this certification from Bureau Veritas, France. TUV-NORD’s ISO 3834-2 welding certification is also required for the European market, according to the company.

At 12:23 pm, the shares of Man Industries were trading 6.21% higher at Rs 492.70 on NSE.