Man Infraconstructions expects strong sales momentum for the project and expects to generate revenue of Rs 1,200 crore in next 4 years from this project.
India is far from having structures that are on the list of highest skyscrapers. The most famous Indian building to make the headlines was The World Towers by Lodha.
Share Market Highlights 05 December 2023: Indices hit record highs; Nifty closes abvoe 20,850 thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
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Man Infraconstruction plans to raise approximately ₹550 crores through the issuance of convertible equity warrants via Preferential Issue, subject to necessary approvals
Shares of Man Infraconstruction surged more than 3 per cent to Rs 195.80, hitting its new 52-week high, with a total market capitalization of more than Rs 7,250 crore.
"The board of directors of Man Infraconstruction. has considered and approved raising of funds through issue and allotment of up to 3,55,05,000 warrants, being each warrant convertible into one equity share of the face value of Rs 2 each to certain non-promoter investors on preferential basis," the company said in a filing to the BSE.
Based on the OI percentage, 81 stocks were on the short-covering list. These include Atul, Ramco Cements, L&T Technology Services, Alkem Laboratories, and HDFC AMC.