Shares of Man Industries (India) Limited witnessed a significant surge on Wednesday, November 20, climbing nearly 6% to reach a fresh record high in the Indian stock market. The remarkable upward movement came after the company announced a strategic partnership with a subsidiary of global energy giant Saudi Aramco.
Record-Breaking Stock Performance
The small-cap stock, notably owned by renowned investor Ashish Kacholia, experienced substantial buying interest following the partnership announcement. Man Industries shares jumped 5.8% to hit an all-time high of ₹472.30 on the BSE. The stock maintained strong momentum throughout the trading session, settling at ₹462.20 by 2.45 pm, representing a gain of 3.55% from the previous close.
Strategic Aramco Partnership Details
The memorandum of understanding (MoU) between Man Industries and Aramco Asia, a subsidiary of Saudi Aramco, marks a significant expansion move for the Indian company. Signed on November 19, 2025, the agreement focuses on exploring the establishment of a state-of-the-art steel pipe manufacturing facility in the Kingdom of Saudi Arabia.
The partnership, which became effective immediately, will remain active for a period of five years. Both companies plan to collaborate on developing advanced capabilities, technologies, and resources to support energy, infrastructure, and industrial requirements across Saudi Arabia, the GCC region, and the broader Middle East.
Strengthening India-Saudi Energy Cooperation
This landmark agreement represents a major step in enhancing energy sector collaboration between India and Saudi Arabia. In its official filing, Man Industries stated that the MoU reflects the shared commitment of both organizations to enable long-term supply of its product range and enhance local manufacturing capabilities within Saudi Arabia.
Nikhil Mansukhani, Managing Director of MAN Industries (India) Limited, expressed enthusiasm about the partnership, stating: "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."
He further added: "We are excited about the opportunity to bring our manufacturing excellence and technical expertise to the Kingdom of Saudi Arabia."
Impressive Historical Performance
Man Industries has demonstrated exceptional performance across various time frames, establishing itself as a consistent wealth creator for investors. The small-cap stock has delivered impressive returns of 41% over six months and 51% in the past year.
The company's growth trajectory becomes even more remarkable when viewed over longer periods. Man Industries has emerged as a multibagger stock, surging 478% over three years and an extraordinary 544% over five years.
During the September quarter, prominent investor Ashish Kacholia increased his stake in the company significantly, raising his holding from 2.03% to 3.04%. This translates to 2,277,029 shares of Man Industries held by the ace investor in the recently concluded period, indicating strong confidence in the company's future prospects.
The partnership with Saudi Aramco's subsidiary positions Man Industries for substantial growth in the international market, particularly in the energy-rich Middle Eastern region, while providing Indian manufacturing expertise a global platform.
