Man Infraconstruction witnesses 24 bulk deals on day 1

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Man Infraconstruction witnesses 24 bulk deals on day 1

Man Infraconstruction has seen terrific listing on Thursday and closed at Rs 347, at a premium of 37.7% over its issue price of Rs 252 per share. The stock has witnessed 24 bulk deals.

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Man Infra BSE | NSE 31/05/12 Are Mutual Funds betting on Man Infra?

Man Infraconstruction  has seen terrific listing on Thursday and closed at Rs 347, at a premium of 37.7% over its issue price of Rs 252 per share, after seeing day's high of Rs 375 on the NSE.

The stock has witnessed 24 bulk deals, including 14 deals on BSE and 10 on NSE.

Managing Director Parag K Shah, In an interview with CNBC-TV18, said, "For FY11, I expect revenue of over Rs 1,100 crore and Rs 135-136 crore profit after tax. FY11 earnings per share is seen at Rs 27.55." He also expected to sustain margins at current levels.

Man Infra raised Rs 141.75 crore through the issue of 56,25,150 equity shares at Rs 252, at higher end of price band Rs 243-252 per share. The issue, which opened during February 18-22, was subscribed 60.44 times.

Man Infra provides construction services for port infrastructure, residential, industrial, commercial and road infrastructure projects.