Multibagger stock: Man Infra share price today jumps 6% after promoter declares raising stake in realty company
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.
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.
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