Man Infraconstruction inches up on increasing stake in associate company
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Man InfraConstruction is currently trading at Rs. 160.15, up by 0.15 points or 0.09% from its previous closing of Rs. 160.00 on the BSE.
The scrip opened at Rs. 158.40 and has touched a high and low of Rs. 160.90 and Rs. 158.40 respectively. So far 20853 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 168.60 on 11-Oct-2023 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. 163.95 and Rs. 157.05 respectively. The current market cap of the company is Rs. 5895.46 crore.
The promoters holding in the company stood at 67.15%, while Institutions and Non-Institutions held 5.81% and 27.04% respectively.
Man Infraconstruction (MICL) has increased its equity ownership in its associate company, Atmosphere Realty (ARPL), by acquiring an additional 12.5% stake. As a result, MICL has increased its equity holding in ARPL from the previous 17.5% to a significant 30%. This acquisition was completed for a cash consideration of Rs 12.5 crore. The object of acquisition is to carry out business of Real Estate Development and other lawful activities.
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.
