Man Industries (India), a leading manufacturer and exporter of large diameter carbon steel line pipes, has received orders worth Rs 5.5 billion 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.
The company has also received vendor approval from several new customers in oil and gas sector globally and participated in various bids. 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.
Shares of the company gained Rs 3.1, or 5.39%, to trade at Rs 60.65. The total volume of shares traded was 115,065 at the BSE (12.41 p.m., Monday).