Man Infra board to mull bonus issue, interim dividend on Oct. 4

Man Infraconstruction said that its board will meet on 4 October 2021 to consider a bonus issue of shares.

In the same meeting, the board will also consider interim dividend for the financial year 2021-22.

Man Infraconstruction undertakes various infrastructure projects like port infrastructure, residential constructions, commercial & institutional constructions, industrial constructions and road constructions.

On a consolidated basis, net profit of Man Infraconstruction rose 1327.39% to Rs 32.83 crore on 571.20% spurt in net sales to Rs 153.37 crore in Q1 June 2021 over Q1 June 2020.

The scrip shed 0.87% to currently trade at Rs 102.60 on the BSE amid profit booking.

The stock had gained 26.45% in six sessions to end at Rs 103.50 yesterday, from its recent closing low of Rs 81.85 recorded on 17 September 2021.

On a year-to-date (YTD) basis, the stock has zoomed 201.47% while the benchmark Sensex has added 25.52% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at 86.923. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading above its 50-day, 100-day and 200-day daily simple moving average (SMA) placed at 72.41, 62.71 and 49.97, respectively.

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