Shares of Man Infra have a 52-week range of Rs 209.95 – Rs 66.25 on BSE. They have been gaining for the last two days and have risen around 7.03 per cent in this period.
Stock Market News: Shares of Man Infraconstructions Ltd (Man Infra) hit a new 52-week high on Friday after the company board approved a plan to raise funds. The counter surged around 6.6 per cent in the early trading session and was trading at Rs 209.95. The counter of the company, which commands a market cap of Rs 7,560.51 as of December 1, as per the BSE website, had closed at Rs 197.20 in the last trading session.
Shares of Man Infra have a 52-week range of Rs 209.95 – Rs 66.25 on BSE. They have been gaining for the last two days and have risen around 7.03 per cent in this period.
At the time of filing this report, the scrip was trading at Rs 202.75.
Meanwhile, the board has approved raising up to Rs 550.23 crore via the issue of warrant on a preferential basis. The go-ahead was given during the meeting of the board held on Wednesday.
“The board of directors of Man Infraconstruction… Has considered and approved raising of funds through issue and allotment of up to 3,55,05,000 warrants, being each warrant convertible into one equity share of the face value of Rs 2 each to certain non-promoter investors on preferential basis,” the company said in a filing to the BSE.
However, this approval is subject to the shareholders’ approval in the ensuing general meeting.