Man Industries is currently trading at Rs. 122.65, up by 3.20 points or 2.68% from its previous closing of Rs. 119.45 on the BSE.
The scrip opened at Rs. 127.00 and has touched a high and low of Rs. 128.90 and Rs. 121.60 respectively. So far 471569 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 161.70 on 22-Jul-2011 and a 52 week low of Rs. 55.00 on 16-Mar-2011.
Last one week high and low of the scrip stood at Rs. 128.90 and Rs. 106.00 respectively. The current market cap of the company is Rs. 679.17 crore.
The promoters holding in the company stood at 55.11% while Institutions and Non-Institutions held 5.06% and 31.77% respectively.
Man Industries (India), one of India’s leading pipe-manufacturing company has entered into strategic partnership with Kobe Steel, one of the leading steel manufacturers in Japan for future growth of the companies. Both the companies have inked memorandum of understanding for commercial and technical business cooperation to develop products jointly and eventually meet the demands of the global steel pipe market.
Man and Kobe will jointly explore prospective business opportunities in the global steel pipe market and conduct joint research and development of products. Further, the companies will continue to explore areas to further strengthen the long-term strategic partnership.
Also, the companies have signed share subscription agreement under which Kobe will invest Rs 30 crore by subscribing to Man Industries’ 1,818,181 equity shares of Rs 5 each for consideration of Rs 165 per share (including a premium of Rs 160 per share) on preferential allotment basis.
