52-week high alert: Man Infraconstruction Rallies over 18%

The bulls of Dalal Street faced challenges in gaining momentum as the current trading session witnessed a modest 0.03% uptick in the Sensex, while the Nifty remained relatively stable with a flat trend.

Opposing the market sentiment, the shares of Man Infraconstruction zoomed by 18.67%. Additionally, the stock hit a fresh 52-week high mark of Rs 182.75 apiece on BSE. Furthermore, the scrip witnessed a spurt in volume by more than 6.26 times. The company’s current market capitalisation is Rs 6,669.51 crore.

From a technical perspective, as of November 23, 2023, the stock’s 200-day moving average (DMA) stood at Rs 123.95, while the 50-DMA was observed at Rs 149.26. The current share price on BSE is Rs 182. In a recent development, the 50-DMA has crossed above the 200-DMA, signalling a robust and sustained upward trend over the long term.

Ownership Landscape

In the September 2023 quarter, notable changes were observed in the ownership landscape of the company. Promoters marginally increased their holdings from 67.12% to 67.15%, signaling continued confidence in the business.

Additionally, FII enhanced their stake in the company, elevating holdings from 2.39% to 3.72% in the September 2023 quarter. These shifts in ownership patterns indicate a dynamic and evolving investor sentiment surrounding the company.

Revenue and Asset Breakdown

Zooming out to the revenue and asset breakdown of the company, the product-wise breakdown reveals that EPC constitutes 60.02%, while Real Estate holds a share of 39.98%. Notably, Engineering, Procurement, and Construction Contracts make up 0% of the total.

In terms of asset distribution, Real Estate comprises the majority with 43.51%, followed by EPC at 13.15%. The remaining 43.34% falls under the category of Others. These percentages provide a comprehensive overview of the allocation of assets within the company’s portfolio.

About the company: 

Man Infraconstruction Limited (MICL) is a comprehensive Engineering, Procurement & Construction (EPC) company, demonstrating expertise and execution capabilities across various construction segments, including Port, Residential, Commercial & Industrial, and Road construction.

Furthermore, Man Infraconstruction Limited has witnessed substantial buying activity and experiencing a surge of over 138% on a YTD basis.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.