This Infra company mulls bonus, dividend; stock hits new life high, up 30% in 5 days—Check Rakesh Jhunjhunwala stake in the company

In apparent positive news for Man Infrastructure investors, the company is mulling bonus issue as well as dividend during the board's meet next week. The stock on Tuesday touched a fresh record high, after surging over 5 per cent to Rs 108.9 per share on the BSE intraday trade today.

The stock witnessed profit booking and has been trading flat with negative bias at Rs 103.4 per share on the BSE as compared to 0.5 per cent decline in the S&P BSE Sensex at around 11:51 am.

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According to the company’s filing, “The Board of Directors of the Company will hold a meeting on Monday, 4th October, 2021, inter-alia, to: Consider and declare Interim Dividend for the Financial Year 2021-22; and recommend Issue of Bonus Shares and matters related thereto.”

Choice Broking Executive Director and the market analyst Sumeet Bagadia urges investors to buy at dip and hold it for good returns amid dividend and bonus issue. He mentions, the stock has shown a rally of Rs 15-18 in the last three days and it will pick up a momentum once breached Rs 110 levels. 

Man Infra के लिए बड़ी खबर !

40 Lk शेयरों के कई सौदे, 4 अक्टूबर को बोनस शेयर जारी करने पर विचार...4 अक्टूबर को अंतरिम डिविडेंड पर भी चर्चा संभव | #BreakingNews | #ManInfra @AnilSinghvi_ pic.twitter.com/ldknciki0b

— Zee Business (@ZeeBusiness) September 28, 2021

The stock has gained over 80 per cent in the last two months, as Zee Business had suggested this stock under special show SIP Stocks at Rs 60 per share levels and the target set was Rs 100 per share positionally. The scrip has breached its target and heading towards for a new target. 

The stock in the last five sessions have jumped almost 30 per cent from Rs 84.75 per share on the BSE, while it has gained over 60 per cent in the last one month.

Ace investor Rakesh Jhunjhunwala holds 30,00,000 equity shares, which comprises of 1.2 per cent stake in the company, as per the shareholding pattern of the company shows.