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Man Infraconstruction’s share price rose over 2 per cent in intraday trade on the BSE on Wednesday, August 20, after two of its promoters increased their stake in the company. The realty stock opened at ₹159 against its previous close of ₹158.35 and rose 2.5 per cent to an intraday high of ₹162.30.

According to the company's exchange filing, promoter and director Parag K. Shah acquired 1,00,000 shares of the company for ₹1,59,49,000 through market purchase on August 18.

Subsequently, on August 19, Shah acquired another 3,61,959 shares worth ₹5,79,06,201 through market purchase. Following these two transactions, his stake in the company has risen to 11,80,46,965 shares, equivalent to a 29.24 per cent stake.

The real estate stock has been under pressure lately. Year-to-date, Man Infraconstruction shares have declined 36 per cent. On a monthly scale, the stock is down over 7 per cent in August after a nearly 4 per cent fall in July.

Man Infra shares hit a 52-week low of ₹135.05 on March 17 this year after hitting a 52-week high of ₹262.50 on December 30 last year.

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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.

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