Man Infraconstruction jumps on acquiring 49% stake in Man Projects
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Man Infraconstruction is currently trading at Rs. 68.77, up by 1.29 points or 1.91% from its previous closing of Rs. 67.48 on the BSE.
The scrip opened at Rs. 69.79 and has touched a high and low of Rs. 69.79 and Rs. 67.95 respectively. So far 52651 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 124.40 on 13-Apr-2022 and a 52 week low of Rs. 66.25 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 72.30 and Rs. 66.25 respectively. The current market cap of the company is Rs. 2557.92 crore.
The promoters holding in the company stood at 67.12%, while Institutions and Non-Institutions held 2.03% and 30.85% respectively.
Man Infraconstruction has acquired 2,45,000 equity shares (representing 49% of the paid up equity share capital) of Man Projects (MPL) and accordingly, MPL has become wholly owned subsidiary of the Company with effect from March 29, 2023. The cost of acquisition is Rs 1.56 crore.
Man Infraconstruction is an India-based company engaged in the business of civil construction. The company’s operations consist of construction / project activities/real estate activities.
