Shares of this EPC firm gain as board approves conversion of warrants
Shares of EPC firm Man Infraconstruction surged nearly 2 per cent in Wednesday's trading session as the company has informed exchanges that the board has approved the conversion of warrants into equity shares. The realty stock opened at Rs 181 on the BSE against the previous close of Rs 178.20. It gained further to touch the intraday high of Rs 181.65. This is a gain of 1.93 per cent. In between, the counter hit a low of Rs 177.75. Technically, it is trading higher than the 50-day and 100-day moving averages but lower than the 5-day, 20-day and 200-day moving averages.
The company has a 52-week high of Rs 262.50 and a 52-week low of Rs 135.05. The company's market capitalisation is Rs 6,805.88 crore.
The company informed the exchanges, on July 22, that the board has approved the conversion of 1,58,81,580 warrants into equity shares with a face value of Rs 2 each on preferential basis to an amount aggregating up to Rs 1,84,62,33,675 at the rate of Rs 116.25 per warrant. Man Infraconstruction Q4 Results
Earlier, Man Infraconstruction reported over 50 per cent growth in consolidated net profit to Rs 97.15 crore in the quarter ended March 31, 2025, helped by lower expenses.
It had posted a net profit of Rs 64.65 crore in the January-March period of the preceding 2023-24 fiscal, the company said in an exchange filing.
The company's total income was at Rs 327.83 crore, down from Rs 332.26 crore in the year-ago quarter. Share Market Today
Benchmark indices Sensex and Nifty rallied in early trade on Wednesday, tracking a positive trend in Asian markets.
Japan securing a trade deal with the US propelled a rally in Asian markets, which in turn added to an optimistic trend in domestic equities, an expert said.
The 30-share BSE Sensex climbed 288.64 points to 82,475.45 in initial trade.The 50-share NSE Nifty went up by 88.95 points to 25,149.85.
From the Sensex firms, Tata Motors, Maruti, Eternal, Mahindra & Mahindra, Adani Ports and Bharti Airtel were among the biggest gainers.
However, Titan, State Bank of India, HDFC Bank and Hindustan Unilever were among the laggards.
With PTI inputs
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