Man Industries India galloped 13.56% to Rs 63.65 at 15:40 IST on BSE, after the company said it has secured new orders worth Rs 1100 crore in longitudinal submerged arc welded and helical submerged arc welded segments in the current quarter.
The company made this announcement during trading hours today, 25 September 2008.
The stock hit a high of Rs 64.80 and a low of Rs 55.95 so far during the day. The stock has a 52-week high of Rs 177 on 2 January 2008 and hit a 52-week low of Rs 53.55 on 23 September 2008.
The company’s current equity is Rs 26.64 crore. Face value per share is Rs 5.
The current price of Rs 63.65 discounts Q1 June 2008 annualized EPS of Rs 10.90, a PE multiple of 5.84.
With these orders, Man Industries’ order book has crossed Rs 1500 crore.
Man Industries has also announced the commissioning of its 3rd helical submerged arc welded (HSAW) production line at Anjar in Gujarat.
The company also acquired 155 acres of land in Little Rock, Arkansas USA for setting up a state of the art HSAW pipe manufacturing plant having capacity of 3 lakh metric tonne at an approximate project cost of $100 million.
Man Industries India’s net profit fell 16.3% to Rs 14.52 crore on 1.3% fall in net sales to Rs 316.88 crore in Q1 June 2008 over Q1 June 2007.
The company makes oil and gas pipelines.
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