India's Man Infra up after Mumbai redevelopment project win

Man Infraconstruction

28/08/2023 07:46

** Shares of Man Infraconstruction  MANI.NS  rise as much as
7.56% to 148.70 rupees
    ** Co said it will do redevelopment of a project with carpet
area of 1.7 mln square feet in western suburbs of Mumbai  
    ** Adds, project has a revenue potential of 40 bln rupees
($484.26 million) in next 5 years
    ** Share price above 50-day, 100-day and 200-day exponential
moving averages since May 5, suggesting bullish trend
    ** More than 6.8 mln shares change hands by 11:48 a.m. IST,
3.1x 30-day avg
    ** Stock up 97.2% YTD



($1 = 82.6000 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))