Man Industries (India), a leading manufacturer and exporter of large diameter carbon steel line pipes, witnessed a sharp rise in share price on Thursday after it received orders worth Rs 5.1 billion from international market for oil & gas sector.

With these new orders the outstanding executable order book as on date stands at nearly Rs 13 billion, the company said. "The new order intake will result in significant improvement in performance of the company in the current financial year."
 
The company has outstanding bids over USD 2 billion at various stages of evaluation for several other oil, gas and water projects in India and abroad. The company therefore expects good order inflow in near future from the outstanding bids which are at various levels of evaluation by the clients.

Shares of the company are trading at Rs 66.90, up Rs 6.35, or 10.49% at the Bombay Stock Exchange (BSE) on Thursday at 10:06 a.m.

Total volume of shares traded on the bourses today was higher by 5,619.43% to 1,257,376 compared with 22-day average volume of 21,984.