This company shares to be in focus as company reduces stake in MICL - Check important updates and other details here

New Delhi: The shares of small-cap construction sector company, Man Infraconstruction Ltd, will be on investors' radar on Friday, October 3. It is important to note that the main reason is that the company, after market hours on Wednesday, October 1, made a big disclosure in its latest exchange filing. The company announced that it has reduced its stake in luxury real estate developer firm, MICL Developers LLP (MICL Developers'). The company earlier held a 99.98 percent stake in MICL Developers, which the company has now reduced to 69.99 percent. Man Infraconstruction Ltd also clarified that the entity to whom this stake has been transferred has no connection with the promoter, promoter group, or promoter company. Man Infraconstruction has worked on several major government and private projects. The company is especially well-known for its involvement in port and highway projects in Mumbai and Gujarat. In addition, it has also ventured into the real estate sector, developing several residential and commercial buildings.