On June 23, Man Infraconstruction shares gained 2% to its 52-week high of Rs 118.86 after it received an order from Bharat Mumbai Container Terminal Private Limited (BMCTPL).

Man Infraconstruction has acknowledged a letter of acceptance (LoA) for Rs 680 crore (inclusive of GST) from BMCTPL for implementation of Phase 2 infrastructure works at the 4th container terminal at Jawaharlal Nehru Port (JNPT), Navi Mumbai, within time-frame of 2.5 years.

BMCTPL is a subsidiary of PSA International, a foremost Global Port Group in Singapore.
“Man infra Group successfully implemented Phase 1 infra works for BMCTPL within an exciting time-frame of 22 months. This achievement has boosted BMCTPL’s confidence in the company’s exceptional work quality and capability,” said Manan P Shah, Managing Director of Man Infraconstruction.

A meeting of the company’s board of directors is scheduled on July 25, 2023, to deliberate and approve the unaudited financial results (standalone and consolidated) for the quarter that ended June 30, along with the approval of payment of the second interim dividend for FY23-24.

At 9:20 am, Man Infraconstruction was trading at Rs 116.70, up Rs 0.59, or 0.51% on the BSE.