Man Infraconstruction share price surged nearly 4% after the promoter increased his stake in the company to 62.32% by acquiring an additional 0.02%. Man Infraconstruction share price opened at an intraday low of ₹117 apiece on the BSE, the stock touched an intraday high of ₹123.70 per share.
Earlier this month, the company announced a 27% year-on-year increase in net profit, which reached ₹60.01 crore, up from ₹47.24 crore in the same quarter the previous year. However, the company’s revenue from operations experienced a decline of 35% year-on-year, falling to ₹148.75 crore from ₹230.32 crore in the corresponding period of FY25.
On the other hand, other income rose over 29% year-on-year, totaling ₹38.47 crore compared to ₹29.65 crore during the previous year, which helped mitigate the decline in core revenue. The board of Man Infraconstruction approved a second interim dividend of ₹0.45 per share, indicating a 22.5% payout based on equity shares with a face value of ₹2 each.
Following the release of its Q2 results, brokerage firm Axis Direct has set a target price of ₹190, indicating a potential upside of approximately 60% from the previous closing price of ₹119.25.
The brokerage noted that Man Infraconstruction is progressing well with its robust project pipeline for FY26 and has a solid balance sheet, putting it in a strong position for an acceleration in sales momentum.
Further, Axis Direct in the report stated that despite Q2FY26 showing impressive year-on-year performance, imminent high-value launches at Marine Lines, Pali Hill, and Royal Netra, collectively projected to generate around ₹6,600 Cr in sales potential, are anticipated to enhance pre-sales in the upcoming quarters.
Ongoing projects, such as the near completion of Aaradhya Avaan, will ensure timely deliveries and strengthen collections. The company’s strong liquidity and net debt-free standing offer significant capacity for business development and EPC growth. With approvals for several launches nearing completion, MICL is poised to provide enhanced performance throughout FY26, believes the brokerage.
“We continue to value the company using a DCF-based valuation. We recommend a BUY on the stock as the current valuation looks attractive, with a TP of ₹190/share,” said Axis Direct.
Technical Views
According to Anshul Jain, Head of Research, Lakshmishree, Man Industries share price is positioned right at the neckline of a 67-week cup-and-handle pattern in the ₹469–475 zone, a crucial breakout area that could define its next trend. Volumes throughout the base have been steady and accumulative, and the recent pickup in activity near resistance adds confidence to the setup.
“A decisive move above ₹475 would confirm the breakout and open the path toward an initial target around ₹600. The structure remains strong, and with volumes supporting the buildup, the stock is well-placed for a meaningful upside extension once resistance is cleared,” said Jain.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
