28-05-2025
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.
