MAN Industries shares hit 52-week high as firm signs MoU with Aramco Asia India; check details here

Shares of MAN Industries rallied 5.68% to hit 52-week high of ₹472.40 apiece on the National Stock Exchange (NSE) on Thursday, November 20, after signing a memorandum of understanding (MoU) with Aramco Asia India, a subsidiary of Saudi Aramco, one of the world’s largest integrated energy and petrochemical enterprises.

The stock, however, settled at ₹465.70 per equity share, gaining 4.18%.

The scrip has jumped over 10% in the past five days and more than 15% over the past month. It is up over 15% in the last six months and has risen 42.3% year-to-date.

The share touched a year’s low of ₹201.55 apiece on March 3, 2025.

The MoU, signed on November 19, will explore the long-term supply of its product range from MAN Industries or its subsidiaries, and enhance local manufacturing capabilities within the Kingdom of Saudi Arabia, it said in a regulatory filing.

It will also explore the potential to establish a steel pipe manufacturing facility in the Kingdom of Saudi Arabia through MAN or its subsidiaries, it added.

Furthermore, the two companies will jointly develop advanced capabilities, technologies, and resources to support the energy, infrastructure, and industrial requirements of Saudi Arabia, the Gulf Cooperation Council (GCC), and the broader Middle East region.

The pact, effective immediately, will remain in force for a period of five years, and “marks a significant milestone in strengthening the energy sector cooperation between India and Saudi Arabia,” the carbon steel pipes manufacturer said.

Commenting on the development, Nikhil Mansukhani, Managing Director, MAN Industries (India) Ltd, said: “This MoU with Aramco Asia India is a testament to MAN’s proven global track record of over three decades in delivering high-quality line pipe solutions to the world’s most prestigious energy projects. We are excited about the opportunity to bring our manufacturing excellence and technical expertise to the Kingdom of Saudi Arabia.”

MAN Industries has a total market capitalisation of ₹3,493.20 crore, as of November 20, 2025, according to data on the NSE.