MAN acquires 5 lakh shares from open market

Mumbai, Aug 7 (UNI) MAN Industries (India) Limited, a leading pipe manufacturing company, has announced that its promoters have increased their stake in the company to 45 per cent.

The promoters of the MAN Industries (India) Limited have acquired approximately one per cent shares (5 lakh shares) through open market purchase on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on August 5.

''The promoters enhancing their stake in the company reflects the confidence of the management in the future prospects of the company's business'', the company's spokesperson said in a release here today.

The promoters of the MAN Industries (India) Limited had enhanced their stake by five per cent under the creeping acquisition route during last 12-months period.

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