Man Infraconstruction share price: Realty stock jumps after THIS acquisition update
Man Infraconstruction share price rose nearly 3 per cent in intraday trade on the BSE on Wednesday, May 28, in an otherwise weak market. Man Infraconstruction share price opened at ₹ 161.20 against its previous close of ₹ 160.60 and rose 3 per cent to an intraday high of ₹ 165.40. Around 2:20 PM, the realty small-cap stock traded 1.77 per cent higher at ₹ 163.45, looking set to snap its two-day losing run. Equity benchmark Sensex was 0.12 per cent down at 81,455 at that time.
Man Infraconstruction's share price got traction after the company, though an exchange filing said its wholly-owned subsidiary, MICL Global, INC., acquired an additional 25 per cent of the membership interest in MICL TIGERTAIL LLC for $1 million on May 27 to carry out real estate development business.
MICL TIGERTAIL LLC was incorporated in Miami, Florida, USA in June 2024 to carry out real estate development business.
The company said it was not a related-party transaction. MICL TIGERTAIL LLC is an associate of MICL Global, INC, a wholly-owned subsidiary of Man Infraconstruction.
"We wish to inform you that MICL TIGERTAIL LLC an associate of MICL Global, INC, a wholly owned subsidiary of the company have acquired an additional 25 per cent of the membership interest in the said LLC with effect from May 27, 2025," Man Infraconstruction said in an exchange filing on May 28.
Man Infra's share price has been under pressure over the last year, losing nearly 16 per cent. It hit a 52-week high of ₹ 262.50 on December 30 last year and a 52-week low of ₹ 135.05 on March 17 this year.
On a monthly scale, the stock has been in the green since March this year, rising almost 7 per cent in May so far after a 3 per cent gain in April and a half a per cent gain in March.
Read all market-related news here
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
4 hours ago
- Mint
Infosys shares to be in focus after DGGI closed ₹32,403 crore pre-show cause GST notice
India's second-largest IT firm, Infosys Ltd, received a goods and services tax (GST) demand closure notice on Friday, 6 June 2025. The notice relieved the company from a ₹ 32,403 crore tax order from the Director General of GST Intelligence (DGGI). 'The company has today received a communication from the Director General of GST Intelligence (DGGI) closing the pre-show cause notice proceedings for the financial years 2018-19 to 2021-22,' according to the BSE filing. The data also showed that the DGGI earlier asked for a ₹ 32,403 crore GST demand notice for the issue of non-payment of IGST under the Reverse Charge Mechanism. 'With the receipt of today's communication from DGGI, this matter stands closed,' said Infosys in the BSE filing. Infosys shares closed 0.62 per cent higher at ₹ 1,564.05 after Friday's stock market session, compared to ₹ 1,554.35 at the previous market close. The company received the GST demand closure notice after stock market operating hours on 6 June 2025. IT major shares have given stock market investors more than 126 per cent returns on their investments in the last five years and 4.55 per cent in the last one-year period. On a year-to-date (YTD) basis, the shares have lost 16.71 per cent in 2025. However, the stock is trading 3.74 per cent higher in the last one-month period. Infosys shares hit their 52-week high level at ₹ 2,006.80 on 13 December 2024, while the 52-week low level was at ₹ 1,307.10 on 17 April 2025, according to the data collected from the BSE website. The IT major's market capitalisation (M-Cap) was at ₹ 6,49,739.73 crore as of Friday, 6 June 2025. Infosys's January to March quarter results for the financial year ended 2024-25 witnessed an 11.75 per cent year-on-year (YoY) fall to ₹ 7,033 crore, compared to ₹ 7,969 crore in the same period a year ago, according to the consoldiated financial statements. The revenue from core operations for the fourth quarter rose 8 per cent YoY to ₹ 40,925 crore from ₹ 37,923 crore in the corresponding quarter of the last financial year. Read all stories by Anubhav Mukherjee
&w=3840&q=100)
Business Standard
6 hours ago
- Business Standard
Street signs: Nifty 50 on blade's edge, Swiggy's oven is hot, and more
The market rebound from April lows has turned attention to capital market-linked stocks. BSE, Central Depository Services, and DAM Capital Advisors have each jumped over 30 per cent in the past month Samie Modak Sundar Sethuraman Listen to This Article Nifty 50 on blade's edge: Breakout or breakdown? The Nifty 50 index rose 1 per cent last week, closing at 25,003, but trailed emerging market (EM) peers as the MSCI EM Index climbed over 2 per cent. Trading above its 20-day simple moving average (SMA) of 24,800, the index has remained in a consolidation range for several weeks. Analysts say a breakout above 25,100 could lift the index to 25,400–25,500, reinforcing its upward trend. A slip below 24,800, however, could sour sentiment, potentially pushing the index to retest 24,500. 'The 20-day SMA at 24,800 is a key marker. Holding above
&w=3840&q=100)
Business Standard
6 hours ago
- Business Standard
Demat accounts grow by 2.2 million in May, total hits 196.6 million
May snaps a four-month slide with 2.2 million new accounts, pushing the total towards 200 million Listen to This Article About 2.2 million new dematerialised (demat) accounts were opened in May, raising the total to 196.6 million as stock prices continued their upward trend. This marks the first monthly increase in new account openings since December 2024, following a steady decline from January through April. Industry experts project the total to surpass the 200-million milestone by mid-July. The stock market ecosystem attracted fresh investors amid a share price rally. In May, Indian equities extended their gains, with the benchmark Nifty and Sensex each rising nearly 2 per cent. Broader markets outperformed — the Nifty Midcap 100 climbed 6.1 per cent,
