This S&P BSE Smallcap stock rose 2% within the first half hour of markets opening and made a new 52 week high after announcing that the company board is going to consider a third interim dividend for FY24.
The company stock has a market cap of Rs. 5,700 crore and is trading at Rs. 153.55, up from Rs. 152.00 at Monday’s close. The stock currently trades 2.7% above its 20 day moving average and 54.5% above its 200 day moving average.
Man Infraconstruction Ltd (‘Man Infra”) announced in a filing dated 26th September 2023 that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, 05th November, 2023 to consider and approve the Unaudited Financial Results (Standalone & Consolidated) of the company for the quarter and half year ended 30th September, 2023; and also to consider and approve payment of third interim dividend for FY24.
Earlier this year the company paid two other interim dividends. In May 2023 the company paid the first interim dividend of Rs. 0.36 per share and in August 2023 the second interim dividend was paid for the same Rs. 36 per equity share. In the previous year the company has paid three interim and a final dividend.
Man Infra engages in the civil construction business in India. The company is a multibagger, returning 106% YTD, meaning if you invested RS. 1 lakh into Man Infra at the start of this year it would have turned into over Rs. 2 lakh by now! The company also has a stable shareholding, with 67% held by promoters, 1.7% held by DIIs, 2.4% held by FIIs and the rest being held by the public. The company has a strong financial book, indicated by a Piotroski F score of 8 and a 3 year Revenue CAGR of 88%.
Written by Sandeep R