Shares of Man Industries jumped as much as 20 per cent to hit intraday high of Rs 72.45 on Thursday after the industrial pipe manufacturer said it has bagged export orders worth Rs 510 crore from international market.
According to Man Industries, the outstanding executable orders of the company, post the new orders, stand at approximately Rs 1,300 crore. "The new orders will result in significant improvement in performance of the company in the current financial year," Man Industries said in a filing to Bombay Stock Exchange on Wednesday.
Man Industries also expects good order inflow in the near future from outstanding bids which are at various levels of evaluation by the clients, the company said.
As of now, Man Industries has outstanding bids over $2 billion at various stages of evaluation for several other oil & gas and water projects in India and abroad, the company said in a filing.
Shares in Man Industries closed 14.53 per cent higher at Rs 69.35 apiece, outperforming the broader Sensex, which ended with 0.17 per cent loss.
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