Mumbai: Maharashtra Assembly Elections 2024 are set to be conducted on November 20, 2024, i.e., Wednesday. The stock market will observe a holiday on the particular day. Maharashtra election results are expected to have some impact on Man Infraconstruction share price. It may be noted that Parag Shah, BJP’s incumbent MLA from Ghatkopar East, is a promoter of the company.
Parag Shah holds 31.53 per cent stake in Man Infraconstruction Ltd while his family has around 67 per cent stake. If Shah wins the Maharashtra election, there is a possibility of some movement in the ManInfra stock.
Man Infraconstruction shares traded at Rs 174.54 per equity share at 12:15 pm on November 19. In March 2023, the stock traded in the range of Rs 66 to Rs 80. In February 2024, the counter surged 3X and touched its all-time high of Rs 249.30. It may be noted that the counter has dropped around 30 per cent since then.
Man Infraconstruction details
PE ratio is 23.70; Industry PE is 22.48
Return on Equity (ROE) is 17.11 percent.
The book value of the share is 42.46.
The company has very little debt to repay, around Rs 13 crore, which once stood at rs 500 crore.
Infra segment: order book of around Rs 650 crore
Real estate segment: Company is working on projects on 1.7 million square feet and plans to launch projects on around 4 million square feet area.
The company has registered around 49 per cent profits per annum since 2019. Notably, Shah won the Ghatkopar assembly seat in Maharashtra elections in 2019.
In January 2024, company did a fund raising of Rs 543 crore.
FY24 EPS was at 8.09
Book Value: Rs 42.50 per share
Man Infraconstruction share price can touch Rs 400-450 levels
Speaking to Money9, Stock Market expert Anshul Jain said he expects Man Infraconstruction share to correct to the levels of Rs 138-127 in 4-6 months. However, the expert said the shareholders can hold the stock at the lower levels as it can rise to Rs 400-450. He said the next six months will be sluggish for the stock, after that it is predicted to jump.
(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO and Mutual Funds.) Man Infraconstruction share expected to be in focus as BJP candidate from Ghatkopar, Parag Shah, is contesting the Maharashtra Assembly Election 2024. Shah and his family hold the maximum stake in the company. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
