Shares of Man Infraconstruction Ltd gained 4.5 % on Tuesday’s trading session from the previous close price of Rs 107 and reached 52 week high of Rs 111.90. The stock climbed a day after financial services firm Societe Generale purchased 39.31 lakh shares or 1.06 percent of the company.
At 1:10 pm, the shares of the company were trading at Rs 109.90 on the NSE, up 3.10 percent from its previous close price.
As per the exchange filing, French-based investment company Societe Generale purchased 39.31 lakh shares, equivalent to a 1.06% stake, in the construction firm through open market transactions on June 12. The shares were purchased on average for Rs 102 each.
The stock gained 45.36 percent in the last three months from Rs 76.05 to current levels, and 46.69 percent in the previous year from Rs 75.50 to current levels.
Man Infraconstruction Limited (MICL) is engaged in the business of civil construction projects. such as port infrastructure, residential and industrial construction sectors.
The company’s operating revenue climbed by 158 percent, from Rs 264 crore in Q4FY22 to Rs 680 crore in Q4FY23, demonstrating strong financials over the years. For the same time frame, Net profit increased 115 percent from Rs 41 crore to Rs 88 crore.
Financial comparisons indicate that revenues marginally grew from Rs 961 crores in FY 21-22 to Rs 1,890 crores in FY 22-23, representing a 97% year-over-year rise. The net profit moderately decreased from Rs 297 crores to Rs 284 crores within the allotted time frame.
As per the latest shareholding pattern, promoters of the company hold a 67.12 percent stake, and Domestic Institutional Investors (DIIs) hold a 1.65 percent stake in the company for FY 22-23.
Written by Omkar C
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