Man Infraconstruction receives LoA, stock closes in green

On Wednesday, Mumbai-based real estate and infrastructure company, Man Infraconstruction Ltd informed about a new order for scope of work in its port infrastructure business segment.

The company in its press release said that the company has received a Letter of Acceptance (LoA) from Indian Port Rail & Ropeway Corporation Ltd (IPRCL). The port rail corporation is a Government of India (GoI) enterprise, which has given the work order for modification in Jawaharlal Nehru Port trust (JNPT) rail yard and further work of development of integrated common rail yard facility at JNPT in Navi Mumbai. The work order is worth Rs 78.33 crore.

The stated LoA is further in addition to the work order for Rs 91.90 crore for the development of integrated common rail yard facility at JNPT which is currently, under execution by the company. This makes up of total work order to Rs 170.75 crore.

Man Infraconstruction is engaged in infrastructure construction work having a diversified exposure to port infra, residential, commercial and road infra projects on Engineering, Procurement and Construction (EPC) contracts.

On Wednesday, the stock closed higher by 2 per cent at Rs 32.60 on BSE. Sensex on the other hand, closed down by 209 points.