Quant Mutual Fund-backed Man Infraconstruction shares hit life-time high
Man Infraconstruction shares have been in uptrend after ushering in current financial year 2023-24. The Quant Mutual Fund-backed stock is one of the multibagger stocks that Indian stock market has produced in YTD time. This mutual funds-backed multibagger stock has risen from ₹75 to ₹219 apiece levels on NSE, deliering to the tune of 200 per cent rise in 2023. However, it seems that mutual funds-backed Man Infraconstruction shares still possess some upside potential. Man Infraconstruction share price today opened upside and went on to touch intraday high of ₹219 per share levels on NSE, which turned out a new life-time high of the multibagger stock.
Mutual funds-backed stock
As mentioned above, Man Infraconstruction shares are one of the mutual funds-backed stocks on Dalal Street. As per the shareholding pattern of Man Infraconstructions Ltd for July to September 2023 quarter (which is available on BSE and NSE), mutual funds own 75,70,867 Man Infraconstruction shares, which is 2.04 per cent of total paid up capital of the company. Out of these mutual funds, Quant Mutual Fund has highest shareholding in the company. Quant Small Cap Mutual Fund owns 60,30,000 shares of Man Infraconstruction, which is 1.62 per cent of total paid up capital of the company.
Compared to Man Infraconstruction shareholding pattern for April to June 2023 quarter, Quant Mutual Fund was the only mutual fund that had invested in this infra stock. In quarter ended June 2023, Quant Mutual Fund owned 60.30 lakh company shares, which was 1.62 per cent of total paid up capital of the company. This means, Quant Mutual Fund renain steady in this multibagger stock during July to September 2023 quarter whereas other mutual funds bought fresh stake in this multibagger infra stock.
Also Read: Tata Motors share price doubles in 2023; is the stock still buy-worthy?
Among individual ace investors, Suketu Ramesh Shah owns 74,65,777 company shares, which is 2.01 per cent of total paid up capital of the company.
The realty company today informed Indian stock market exchanges that it has planned to foray in redevelopment of residential properties in Mumbai.
In its latest exchange filing, Man Infraconstruction said, “Pursuant to Regulation 30 of the SESI (Listing Obligation and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Press Release titled “The MICL Group proudly announces its grand foray into the realm of sophistication and luxury with the redevelopment of an Exclusive Residential Marvel at the coveted Pali Hill Bandra West – the epitome of prestige in the heart of Mumbai City’.”
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Published: 29 Dec 2023, 01:56 PM IST
