This small-cap stock gained 9.45% on Monday after announcing a 4,000 Cr revenue-generating project. This company has delivered 68% returns to investors in one year. The stock price is being supported by a significant volume increase that was higher than the prior day and the previous week. Currently, shares of this company are trading above the 50-day and 200-day moving averages.
Man Infraconstraction Ltd
The company has a market capitalization of Rs. 5,602 Cr., making it a small-cap. On Monday, this company’s shares on the BSE closed 9.45% higher at Rs. 151.20.
According to the company filing, MICL group is to develop one of the largest redevelopments in the western suburbs of Mumbai city having a carpet area for sale of about 17 lakh square feet with the potential to generate revenue of Rs. 4,000 Cr in the next 5 years on its parts.
As per the company filing, the total consolidated revenue grew by 45% YoY from Rs. 360.02 Cr in Q1 FY23 to Rs. 523.76 Cr in Q1 FY24 and for the same period net profits rose by 111% from Rs. 38.94 Cr to Rs. 82.44 Cr.
As per the latest shareholding data, Promoters hold 67.12%, DIIs hold 1.67%, FIIs hold 2.39% and the Public hold a 28.82% stake in this company.
Man Infraconstraction Ltd. is a Construction and Real Estate company. It undertakes the following projects, which include port infrastructure, commercial and institutional construction, road construction, residential construction and industrial construction.
Written by Sheshadri N
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