Man Infra declines on profit taking

Man Infraconstruction fell 0.22% to Rs 45.80 at 12:15 IST on BSE, with the stock sliding on profit booking after the company announced that its subsidiary has secured an order worth Rs 751.69 crore.

The announcement was made during market hours today, 21 June 2016.

Meanwhile, the S&P BSE Sensex was down 65.27 points or 0.24% at 26,801.65.

On BSE, so far 14.10 lakh shares were traded in the counter as against average daily volume of 1.85 lakh shares in the past one quarter. The stock was highly volatile. The stock lost as much as 4.46% at the day's low of Rs 43.85 so far during the day. The stock rose as much as 4.57% at the day's high of Rs 48 so far during the day. The stock had hit a 52-week high of Rs 50.10 on 4 December 2015. The stock had hit a 52-week low of Rs 28.85 on 12 February 2016. The stock had outperformed the market over the past one month till 20 June 2016, advancing 25.41% compared with Sensex's 6.19% rise. The scrip had also outperformed the market in past one quarter, surging 44.34% as against Sensex's 7.67% rise.

The small-cap company has equity capital of Rs 49.50 crore. Face value per share is Rs 2.

Shares of Man Infraconstruction had rallied 11.95% in the preceding three trading sessions to settle at Rs 45.90 yesterday, 20 June 2016, from its close of Rs 41 on 15 June 2016.

Man Infraconstruction's subsidiary Man Projects has received an order worth Rs 751.69 crore from Bharat Mumbai Container Terminals for development of the fourth container terminal at Jawaharlal Nehru Port (JNPT), Mumbai.

On consolidated basis, Man Infraconstruction's net profit fell 66.2% to Rs 1.04 crore on 16% growth in net sales to Rs 61.76 crore in Q4 March 2016 over Q4 March 2015.

Man Infraconstruction is a construction company engaged in providing construction services for port infrastructure, residential, industrial, commercial and road infrastructure projects.

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