Man Industries (India), a leading manufacturer and exporter of large diameter carbon steel line pipes, witnessed a sharp rise in share prices on Monday after it has received orders worth Rs 5.5 billion. The company received orders from domestic and international customers for supply of pipes for oil & gas sector projects.

With these new orders, the outstanding order book as on date stands at approx Rs 16 billion, this will result in significant improvement in performance in the second half of the current financial year.

Shares of the company are trading at Rs 60.40, up Rs 2.85, or 4.95% at the Bombay Stock Exchange (BSE) on Monday at 12:49 p.m.

The scrip has touched an intra-day high of Rs 62 and low of Rs 57.50. The total volume of shares traded at the BSE is 117,275.