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Man Industries shares up 14% on new orders

In the early trade on Thursday the shares of Man Industries jumped nearly 14 per cent as the company has announced that it has received orders worth approximately Rs 510 crore from international oil and gas sector.

The current market capitalisation of the company is Rs 346 crore.

Man Industries in a BSE filing said, “The new order intake will result in significant improvement in performance of the company in the current financial year ended March 2016.”

The outstanding executable order book stands at Rs 1,300 crore as on date, with these orders.

“The company expects good order inflow in near future from the outstanding bids which are at various levels of evaluation by the clients,” the release added.

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