Man Industries Shares Rise 3% After Five-Year MoU With Aramco Asia India

Mumbai, November 20, 2025: The share price of Man Industries (India) Limited surged 3% today, closing at ₹463.90, after the company announced a five-year Memorandum of Understanding with Aramco Asia India Pvt. Ltd. The stock touched an intraday high of ₹472.40, with a VWAP of ₹463.10. Trading volume stood at 13.13 lakh shares, valuing the company at ₹3,461.69 crore.

Man Industries, established in 1988 and listed since 2005, is a leading manufacturer of L-SAW and H-SAW line pipes, spiral pipes, and coating systems. The company serves domestic and international clients across the oil and gas, water supply, and infrastructure sectors. Its manufacturing facilities are located in Gujarat and Madhya Pradesh, supporting large-scale production and global supply.

MoU Focus: Saudi Manufacturing Push and Long-Term Supply

The Memorandum of Understanding will allow Man Industries to explore long-term supply opportunities for its steel pipe products and evaluate the potential establishment of a state-of-the-art greenfield manufacturing facility in Saudi Arabia. This move aligns with the company’s strategy to expand into new global markets and support large-scale energy and infrastructure projects across the Middle East.

The MoU also highlights joint development of technological capabilities and resources with Aramco Asia India. The agreement is non-binding, with no changes to ownership, board composition, or management rights. Both companies will continue to operate independently, with no financial obligations or restrictions arising from the collaboration.

Orfde Book Summary

The order book indicates strong investor interest, with buy orders totaling 85,892 shares and sell orders at 1,44,479 shares. The highest bids were around ₹461.50, while the top sell offers were near ₹461.85. The relatively tight bid-ask spread reflects active trading, suggesting continued buying and selling momentum from both investors and market participants.

Company Commentary

Man Industries indicated that the partnership is focused on enhancing commercial collaboration and working together to grow manufacturing presence in the Middle East. The company said that the MoU recognizes longer-term objectives to support regional energy and infrastructure growth markets.

REF: https://nsearchives.nseindia.com/corporate/MANINDS_20112025130109_MIIL_MOU_WITH_AAIPL_20112025.pdf

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