The announcement was made during market hours today, 29 September 2014.

Meanwhile, the S&P BSE Sensex was up 16.25 points or 0.06% at 26,642.57.

On BSE, so far 1.15 lakh shares were traded in the counter as against average daily volume of 1.36 lakh shares in the past two weeks.

The stock hit a high of Rs 62 and a low of Rs 57.50 so far during the day.

With these new orders, the outstanding order book as on date stands at approximately Rs 1600 crore, this will result in significant improvement in performance in the second half of the current financial year, Man Industries (India) said in a statement.

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 $2 billion at various stages of evaluation for several other oil, gas and water projects in India and abroad. The company therefore expects good order inflow in near future from the outstanding bids which are at various levels of evaluation by the clients.

Man Industries (India) has also initiated the process for upgradation of its Pithampur plant to produce very large diameter pipes (upto 130 inch) to cater to the upcoming mega drinking water supply, river linking and irrigation projects in MP, Rajasthan and UP. The upgradation will be completed by December 2014, the company said in a statement.

Man Industries (India)'s net profit rose 38.6% to Rs 3.16 crore on 47.8% growth in net sales to Rs 211.66 crore in Q1 June 2014 over Q1 June 2013.

Man Industries (India) is a leading manufacturer of saw pipes (line pipes) and coating systems for high-pressure oil & gas applications with a potential production capacity of approximately one million MT of saw pipes per annum.