Shares of Man Infraconstruction, a construction company that has executed work for port projects in the country, are in focus today as the company has announced that it will acquire an additional equity shares in its subsidiary, Man Realtors and Holdings Private Limited (MRHPL). According to the information shared with the exchanges. Man Infraconstruction will acquire 17,03,183 shares. With this acquisition, the Man Infraconstruction's holding in MRHPL will increase to 100 per cent from the existing 63.93 per cent. Post this transaction, MRHPL will become a wholly owned subsidiary.
The transaction is slated for completion within 30 working days and will be settled in cash.
“We wish to inform you that the Company has acquired I agreed to acquire 17,03,183 Equity Shares (representing 36.07% of the paid up equity share capital), of Man Realtors and Holdings Private Limited ('MRHPL''), wherein the Company holds 63.93% of the paid up equity share capital, and accordingly, MRHPL shall become wholly owned subsidiary of the Company,” the company said in the filing.
Share Price Today
The counter opened in green with a minor gain of Rs 0.45 at Rs 168.55 on the BSE against the previous close of Rs 168.10. The counter gained further to touch the high of Rs 172.95 - a gain of 2.89 per cent from the previous close.
Technically, the stock trades higher than 5-day, 20-day, 50-day and 100-day moving averages but lower than 200-day moving averages.
The 52-week high of the stock is Rs 262.50 and the 52-week low is Rs 135.05.
Quarterly Results
Man Infraconstruction has reported over 50 per cent growth in consolidated net profit to Rs 97.15 crore in the quarter ended March 31, 2025, helped by lower expenses.
It had posted a net profit of Rs 64.65 crore in the January-March period of the preceding 2023-24 fiscal, the company said in an exchange filing.
The company's total income was at Rs 327.83 crore, down from Rs 332.26 crore in the year-ago quarter.
With PTI inputs
(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)