Sunday, May 26, 2024

Multibagger stock jumps 6% after promoter declares raising stake in company

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Multibagger stock: Man Infraconstruction share price today witnessed a sharp upside move during morning deals. The realty stock, which has delivered 160 percent return to its positional shareholders today opened upside at 193.25 apiece on NSE and went on to touch an intraday high of 197 per share, logging around 6 percent intraday rise during Monday deals. The real estate company hit the headlines during the morning when it declared that one of its promoters Mansi P Shah had raised its shareholding in the company by adding 2 lakh company shares in her portfolio. Mansi P Shah bought these 2 lakh company shares from the open market. As per the information available on the BSE website, before the acquisition of these 2 lakh Man Infraconstruction shares, Mansi P Shah held 5,88,95,139 company shares or 15.86 percent stake in the real estate company. 

After the acquisition of these 2 laakh Man Infra shares, the net stake of Mansi P Shah in Man Infraconstruction now stands at 15.91 percent. The acquisition was done on 14th March 2024 and the announcement was done on 15th March 2024 i.e. on Friday. As the Indian stock market was closed on Saturday and Sunday, investors reacted to the development regarding this multibagger stock during morning deals on Monday.

Details of promoters’ acquisition

As per the exchange filing shared by Man Infraconstruction Ltd with the stock market exchanges, Mansi P Shah bought an additional 2 lakh Man Infraconstruction shares from the open market on 14th March 2024 i.e. on Thursday last week. The company promoter was already holding 5,88,95,139 company shares, which was 15.86 percent of total paid-up capital. After buying an additional 2 lakh shares of Man Infraconstruction from the open market, Mansi P Shah’s shareholding in the company went up from 15.86 percent to 15.91 percent. Now, the promoter owns 15.91 percent of the total paid-up capital of the company. After this acquisition, the total shareholding of the promoters in the real estate company now stands at 67.24 percent.

Man Infraconstruction share price history

As mentioned above, the Man Infraconstruction share price has ascended from around 73.50 to 197 apiece level on NSE, logging more than 160 percent rise in the last one year. However, in the last five years, this multibagger real estate company shot up from 25 to 197 per share level, clocking to the tune of 675 percent rise in this time.

In the last ten years, Man Infraconstruction share price has ascended from around 12.15 apiece to 197 per share levels, registering over 1500 percent rise in this one decade time.

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Published: 18 Mar 2024, 03:08 PM IST

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