Shares of this small-cap infra company rally upon the announcement of an acquisition

Shares of this small-cap infra company rally upon the announcement of an acquisition

by 5paisa Research Team Last Updated: Mar 31, 2023 - 07:18 pm 596 Views
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The company has acquired 49% shares of Man Projects.

About the Acquisition 

Man Infraconstruction has purchased 2,45,000 equity shares (representing 49% of the paid-up equity share capital) of Man Projects (MPL), making MPL a completely owned subsidiary of the Company as of March 29, 2023. The transaction cost Rs 1.56 crore.

Company profile 

Man Infraconstruction is an Indian firm that specializes in civil construction. The company's operation involves construction/project activities/real estate activities.

Stock Price Movement 

Man Infraconstruction is presently trading at Rs 68.77 on the BSE, up 1.29 points or 1.91% from its previous closing price of Rs 67.48.

The stock began trading at Rs 69.79 and has since reached highs and lows of Rs 69.79 and Rs. 67.95, respectively. Thus far, 52,651 shares have been exchanged on the exchange. The BSE group 'A' stock with a face value of Rs 2 reached a 52-week high of Rs 124.40 and a low of Rs 66.25. 

Currently, shares of MAN INFRACONSTRUCTION LTD are trading at a P/B of 2.75x, with a P/E of 11.9x.ROE of 27.8 % and ROCE of 33.7% respectively at the end of FY22. It reported revenue growth of 97.80% which is fair with its growth and performance. In terms of holding, 67.12% of the company’s shares are held by the promoters, while foreign institutions and Domestic institutions held 0.41% and 1.62%, respectively. Public hold 30.84% at the end of December 2022. 

Man Infraconstruction Ltd was founded on August 16, 2002. It is a non-government corporation that is registered with the Registrar of Companies in Mumbai. It has a paid-up capital of Rs 742,500,800 and an authorized share capital of Rs 900,000,000. It is involved in real estate operations for a fee or under contract. [On a fee or contract basis, this class encompasses purchasing, selling, renting, managing, and appraising real estate. Munshi's service actions are also included in this class.

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