Man Infra Shares To Be In Focus As Axis Securities Starts Coverage
The 30-share BSE Sensex tanked 793.25 points or 1.06 per cent to settle at 74,244.90 with 27 of its components ending in the red.
Shares of Civil Electronics Sector Company Man Infrastructure Limited (MICL) will be in focus when the stock market opens on Monday as brokerage house Axis Securities has started coverage on the stock.
The brokerage has given a ‘BUY’ call rating to Man Infra shares with a target price of Rs 270. On April 12, construction stock closed at 214.60 on BSE with a gain of 1.61 per cent. This is a multibagger stock. The stock has given a return of 176 per cent in the last one year.
Earlier on Friday, benchmark equity indices Sensex and Nifty plunged by 1 per cent on Friday due to across-the-board profit taking by investors after a recent record-breaking rally as US inflation data dashed hopes of a rate cut by June.
The 30-share BSE Sensex tanked 793.25 points or 1.06 per cent to settle at 74,244.90 with 27 of its components ending in the red. During the day, it dropped 848.84 points or 1.13 per cent to 74,189.31.
The NSE Nifty declined 234.40 points or 1.03 per cent to close at 22,519.40 with 45 of its constituents settling lower. All Nifty sectoral indices closed in the red. The BSE benchmark climbed 354.45 points or 0.47 per cent to settle at an all-time high of 75,038.15 on Wednesday.
The Nifty advanced by 111.05 points or 0.49 per cent to reach a record closing peak of 22,753.80. During the day, it jumped 132.95 points or 0.58 per cent to hit a lifetime intra-day peak of 22,775.70. Stock markets were closed on Thursday on account of Eid-Ul-Fitr.
