Man Industries (India) Ltd’s shares jumped over 12% on Monday after the infrastructure solutions provider announced that it had received new orders worth Rs 400 crore in the domestic and international markets.

Shares of Man Industries hit an intraday high of Rs 378.90, 12.3% higher than its last closing price on the National Stock Exchange (NSE). The stock closed 7.51% higher at Rs 362.75. 

In an exchange filing, the company said it had received the order from domestic or international entities involving the supply of pipes without giving out more details. 

The filing added, “This order reflects the robust business environment and showcases the trust of the customers they have in the company’s technological and executional capabilities.” 

Man Industries (India) is a manufacturer and exporter of large-diameter carbon steel line pipes used to deliver oil and gas industry, petrochemicals, water, dredging and fertilisers, hydro-carbon and CGD sector.

Man Industries said that its total unexecuted order book to date stands at about Rs 1,300 crore to be executed in 6 months.