Small Cap Civil Construction Stock To Consider 2nd Interim Dividend For FY25

Man Infraconstruction's stock was the subject of attention on Tuesday since it began the day higher at Rs 191.70 per share and peaked at Rs 194.80 intraday. Following the company's announcement that a board meeting would be held on Monday, February 3, 2025, to address the unaudited financial results for the quarter and nine months ending December 31, 2024, as well as the prospect of declaring a second interim dividend for the financial year 2024-2025, the stock attracted market attention.

"Further as communicated earlier, pursuant to "Code of Internal Procedures and Code of Conduct for Prohibition of Insider Trading in Securities" adopted by the Company under the SEBI (Prohibition of Insider Trading) Regulations, 2015 read with amendments thereto, the Trading Window for dealing in the securities of the Company was closed for all Designated Persons and their immediate relative (as defined in the code) with effect from Wednesday, 01st January, 2025 till expiry of 48 hours from the declaration of Un-audited Financial Results (Standalone & Consolidated) of the Company for the quarter and nine months ended 31st December, 2024 and accordingly the Trading Window shall remain closed till Wednesday, 05th February, 2025," said Man Infraconstruction in a stock exchange filing.

The conversion of 31,01,400 convertible warrants into 31,01,400 equity shares was previously considered and approved by the company on December 20, 2024, at an issue price of Rs. 155/-per share, including a premium of Rs. 153/-per share. This was done after the allottees paid an amount totalling Rs. 36,05,37,750/- at the rate of Rs. 116.25/-per warrant in order to put into effect their authority to convert the warrants into equity shares.

Following the conversion of warrants that were given out on a preferential basis, the following individuals were given equity shares: Suresh Eknath Kolhatkar, Chhattisgarh Investments Ltd, Moneyleader Finance India Pvt Ltd, Ritu Wadhwa Makhiia, Resonance Opportunities Fund, and Quant Mutual Fund. Vadhvan Port Project Ltd. recently issued a tender for engineering, procurement, and construction (EPC) works valued at Rs 1,700 crore for the proposed mega port at Vadhvan in Maharashtra. Cementation India Ltd., Navayuga Engineering Co. Ltd., and MAN Infraconstruction Ltd. recently submitted bids.

With a target price of Rs 280, Axis Securities has issued a buy call on Man Infraconstruction. Man Infra is currently trading at Rs 189. Founded in 2002, Man Infraconstruction is a small-cap firm in the construction industry with a market valuation of Rs 7,114 crore.

With its headquarters located in Mumbai, Maninfra operates in two business verticals: real estate development and construction. With projects all throughout India, MANINFRA is an integrated EPC (Engineering, Procurement, and building) firm with almost 60 years of expertise and implementation skills in the port, residential, commercial & industrial, and road building segments.