Hot Pursuit     21-Mar-12
Man Infraconstruction hits 52-week high after winning new orders
Man Infraconstruction rose 1.01% to Rs 164.75 at 10:41 IST on BSE after the company said it has secured work orders worth approximately Rs 113 crore for construction of residential towers in Mumbai and Pune.

The company announced the new orders during trading hours today, 21 March 2012.

Meanwhile, the BSE Sensex was up 21.53 points, or 0.12% to 17,337.71.

On BSE, 49,000 shares were traded in the counter as against average daily volume of 27,276 shares in the past one quarter.

The stock hit a high of Rs 188.20 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 162 so far during the day. The stock had hit a record low of Rs 90 on 30 December 2011.

The stock had outperformed the market over the past one month till 20 March 2012, rising 24.27% compared with the Sensex's 5.32% fall. The scrip had also outperformed the market in the past one quarter, surging 70.07% as against the Sensex's 14.11% gain.

The small-cap construction company has an equity capital of Rs 49.50 crore. Face value per share is Rs 10.

Man Infraconstruction said that the latest work orders were received from Tata Housing Development Company and Flagship Infrastructure.

On a consolidated basis, Man Infraconstruction's net profit fell 29.1% to Rs 10.66 crore on 25.7% decline in net sales to Rs 106.55 crore in Q3 December 2011 over Q3 December 2010.

Mumbai-based Man Infraconstruction provides construction services for port infrastructure, residential, industrial, commercial and road infrastructure projects.

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