Man Infraconstruction rose 2.40% to Rs 87.60 after Man Infra Contracts secured a project to undertake redevelopment work in Juhu, Mumbai.
Man Infra Contracts LLP is appointed as a developer by Juhu Sai Darshan Co-operative Housing Society in Juhu, Mumbai to undertake redevelopment work.Man Infraconstruction holds 70% partnership interest in Man Infra Contracts LLP.
The company said it expects to generate total revenue of more than Rs 250 crores from the said project.
Shares of Man Infra have jumped 25.32% in five straight sessions. In the past one month, the stock has jumped 29.44% as against 5.64% rise in the Sensex. It has surged over 233.97% in the past one year compared with 50% rise in the Sensex.
On the technical front, the stock's RSI (relative strength index) stood at 78.49. 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 simple moving average (SMA) placed at 74.84 and 200-day SMA at 69.76.
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.
Man Infraconstruction undertakes various infrastructure projects like port infrastructure, residential constructions, commercial & institutional constructions, industrial constructions and road constructions.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app