The recent reports suggested that Man Infraconstruction’s shares hit a record new price on the BSE in an intraday deal on Thursday, November 23, 2023, i.e. today. Reportedly, the new high price of Man Infraconstruction shares is at Rs 178.95 showing a gain of 12 percent on the Bombay Stock Exchange. The news of Man Infraconstruction’s share hitting a new high came after the company announced that board members will meet to consider a proposal for raising funds on November 29. On the back of heavy volumes, the shares of the company jumped to a new high price of Rs 178.95. You are asked to stick with this page and go through this article till the end for more information. Swipe down the page.
Man Infraconstruction is a civil construction company. For the fourth straight day, the company was quoting higher, gaining 24 percent during the period. At the counter, the average trading volumes more than doubled, with a combined around 5.9 million equity shares changing hands on the BSE and NSE in the first 15 minutes of trades. ManInfra cited in its exchange filing that the board meeting will held on November 29 to consider the proposal for increasing the funds which helped the shares to gain 12 percent and hit a new high price.
The board meeting will have a talk on raising funds by way of issuing one or more instruments comprising of equity shares, debt securities, or convertible securities of any other description, through Preferential Issue, Qualified Institutions Placement or Private Placement, or such other methods or combinations thereof as may be decided by the board. For the unversed, Man Infraconstruction’s headquarters is located in Mumbai. It has two business ventures, Real Estate Development and EPC (Engineering, Procurement, and Construction). Let’s take a look at the company’s business verticals viz. Scroll down the page.
As a Real Estate Developer, the company has delivered multiple residential projects in Mumbai. The most iconic project in South Mumbai with one of the tallest residential towers in India is named “Aaradhya Avaan” and is set to create new benchmarks in the real estate industry, which will be launched in October this year. During H1FY24, the company also acquired two new projects at Goregaon East and at Ghatkopar West in the Mumbai market, which expanded the company’s portfolio to 5.9 million sq. ft. Stay tuned to this website for more details and further updates.