Man Infra zooms up

Some half hour ago, Man Infraconstruction announced receipt of a new order – this is a Letter of Acceptance (LoA) from Bharat Mumbai Container Terminal Private Limited (BMCTPL) for execution of Phase II works at JNPT, Navi Mumbai, Maharashtra being "Reclamation works- Material Supply" for Rs. 938 crore.

BMCTPL is a subsidiary of the PSA International, a leading global port group headquartered in Singapore. PSA is working with JNPT to develop this Fourth Container Terminal to cater to the increasing demands for container handling capacity and facilitate maritime trade in the country.

This is a repeat order from the same company and is one of the biggest single order awarded to the company; this is to be executed in a time-frame of 2 years.

Following this announcement, the stock, which had opened 2.5% higher at Rs.121.95, jumped up over 4.5% to Rs.124.40, not too far from its 52-week high of Rs.134.45.