Man Industries share price surged over 10% on Monday’s early trade to touch a 52-week high following the announcement by the company that it had secured its largest-ever single order of over ₹1,850 crore for pipes from Oil & Gas International Company. Man Industries share price today opened at ₹502 apiece on BSE; the stock touched an intraday high of ₹513 and an intraday low of ₹482.70.
Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, highlighted that the stock has seen a gap- up opening; however, from the initial highs, prices have dipped a bit, trimming gains. Technically, prices gave a bullish breakout last week, breaking beyond 450, and positive momentum is expected to continue in the near term with a potential target of 530–550. The bullish gap of today around 475, followed by 450, is seen as immediate support and a buying zone.
