Promoters of MAN Industries (India) Limited, one of India's top manufacturers of large pipes, have increased their stake in the company by about 2.1 percentage points, the company said.\n\n\n\nThe promoters purchased 12 lakh shares in a bulk deal from the market, it said. The transaction is likely to have cost around Rs 6.25 cr, based on the company's share price.\n\n\n\nShares of MAN Industries were up 5% today on the news.\n\n\n\nNo information about the identity of the seller was given.\n\n\n\nWith this, the promoter stake holding in the company has increased to 44.02% from 41.92%.\n\n\n\nR. C. Mansukhani, Founder and Chairman of the Company said the move was an indicator of the confidence that the promoter shareholders have in the company's prospects. \n\n\n\n"We continue to explore opportunities to enhance shareholder's value," he said. \n\n\n\nMAN Industries is a leading manufacturer of line\u00b7pipes and coating systems for high-pressure oil and gas applications.\n\n\n\nIt has a production capacity of approximately one million tons of SAW pipes per annum. \n\n\n\nStarting as an Aluminium Extruder in 1988, MAN Industries has now become one of the largest domestic players in LSAW Pipes, Spirally Welded Pipes and Coating Systems.