New Delhi, Nov. 20 -- Ashish Kacholia-owned small-cap stock, Man Industries, rose nearly 6% to a fresh high in the Indian stock market today, November 20, after signing a memorandum of understanding (MoU) with Saudi Aramco's subsidiary.

Man Industries shares rose 5.8% to a record high of Rs.472.30 on the BSE. As of 2.45 pm, the small-cap stock was trading 3.55% higher at Rs.462.20.

The MoU between Man Industries and Aramco Asia, a subsidiary of Saudi Aramco, has been signed to explore the potential of establishing a state-of-the-art steel pipe manufacturing facility in the Kingdom of Saudi Arabia through Man Industries or its subsidiaries.

The MoU is effective immediately and will remain in force for a period of five years.

The compan...