134% return in 2 years: This smallcap stock gains as company expands global footprint

Shares of Man Infraconstruction Ltd, a prominent civil construction and real estate development company, are in action today as the company has announced the expansion of its real estate development portfolio into the US market by acquiring a 40 per cent stake in HOLDING 752 & 758 NW 2 ST LLC, a real estate entity in the United States. The company is engaged in the business of real estate activities and is in the process of executing the development of residential apartments, located in Miami, in the state of Florida, USA.

Shares of Man Infraconstruction, which specializes in EPC (Engineering, Procurement, and Construction) and Real Estate Development, opened in red at Rs 191 against the previous close of Rs 192.05 on the BSE. However, it rebounded and touched the intra-day high of Rs 194.60 - a gain of 2.44 per cent from the previous close.

On technical parameters, the counter is trading higher than 5-day, 20-day, 50-day and 100-day moving averages but lower than 200-day moving averages.

The stock of the company, which has a market cap of Rs 7,183 crore, has a 52-week high of Rs 249.40 and a 52-week low of Rs 136.95. 

Meanwhile, the Indian stock market opened in green on Wednesday as buying was seen in sectors like realty, media, energy, private bank and infrastructure.

Sensex was trading at 80,087.35 after rising 610 points or 0.77 per cent. At the same time, the Nifty was trading at 24,393.40 after rising 180 points or 0.74 per cent.

The market trend remained positive. On the National Stock Exchange (NSE), 1,820 stocks were trading in green, while 449 stocks were trading in red.

Nifty Bank was at 52,289.75 after rising 82.50 points or 0.16 per cent. The Nifty Midcap 100 index was trading at 56,589.90 after gaining 474.45 points or 0.85 per cent. The Nifty Smallcap 100 index was at 18,651.70 after gaining 148.25 points or 0.80 per cent.