Shares of Man Industries Ltd rallied 5% on 12 February after the company announced securing orders worth Rs 525 crore for supplying various pipes.

In its regulatory filing, the company failed to share the details of the firm awarding the orders, adding it received the order from domestic and international entities to supply various types of pipes, which has to be executed in the next 6-7 months.

Furthermore, the company added that the total unexecuted order book stands at Rs 1,600 crore.

The order highlights the thriving business landscape and shows the confidence of customers in the company’s technological prowess and operational effectiveness.

Earlier last month, the company’s pipes and infrastructure solutions provider secured an order worth Rs 400 crore. The company also expanded its operations by entering the business of manufacturing pipes for hydrogen transportation, which is aimed at seizing opportunities in the hydrogen sector.

Nikhil Mansukhani, managing director of Man Industries, said that the company is capable of delivering up to 5 lakh tonnes annually with minimal capital expenditure ranging from Rs 40-50 crore.

At 3:20 pm, the shares of Man Industries shed all their early gains and were trading 0.90% lower at Rs 403 on NSE.