Man Industries surges 17% intraday on Rs 700 crore order

MUMBAI: Shares of Man Industries surged nearly 17 per cent intraday after the company announced it has bagged orders worth Rs 700 crore from domestic and international customers for supply of large diameter pipes for oil & gas as well as water sector projects.

The company’s order book including the above orders stands at Rs 1,200 crore, the company said in a filing to stock exchanges.

Man Industries has outstanding bids over $1 billion at various stages of evaluation for several other oil, gas and water projects in India and abroad.