Quant Mutual Fund-owned Man Infraconstruction share price jumps 23% in seven sessions. Buy, sell or exit?

Stock market today: Man Infraconstruction share price has been on an uptrend for the last seven sessions. The Quant Mutual Fund-owned real estate stock remained in base building mode for nearly one and half months and bottomed out at ₹165 per share levels or say 200 EMA level on 13th March 2024. since then, Man Infraconstruction share price has risen to ₹211 apiece levels, logging around a 23 percent rise in seven successive sessions. However, stock market experts believe that the realty stock may continue its uptrend as it is looking strong from both fundamental and technical perspectives. They said that the US Fed rate cut buzz after the US Fed meeting this week is expected to push rate-sensitive segments like realty, auto, and banking. Man Infraconstruction share has given a breakout at ₹207 level and it is looking bullish on chart pattern.

Man Infraconstruction share price outlook

On why Man Infraconstruction share price is skyrocketing, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "After the three interest rate cut jibe in the US Fed commentary, rate sensitive sectors like banking, auto, and real estate is in focus. Man Infraconstruction shares being a real estate company is getting the benefit of this short-term trigger. Apart from this, Man Infraconstruction has a good presence in the real estate business of Mumbai. The company has recently launched some new projects that are expected to create buzz for the stock. However, much will depend upon the kind of Q4 results it's announced as we are just a fortnight away from the fourth quarter results season for the current financial year."

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Man Infraconstruction share price target

Expecting more rally in Man Infraconstruction share price, Shiju Koothupalakkal, Technical Analyst at Prabhudas Lilladher said, "Man Infraconstruction share price bottomed out at 200 EMA placed at ₹165 apiece level. After coming close to this level, Man Infraconstruction shares witnessed a trend reversal and came above 100 EMA during the rally in this week. Man Infraconstruction share price today gave breakout at 207 and now the realty stock is sustaining above 50 EMA, which signals further uptrend in short term."

"Man Infraconstruction shareholders are advised to upgrade their trailing stop loss at ₹197 and hold the scrip for near-term targets of ₹226 and ₹248 apiece. Fresh investors can also buy Man Infraconstruction shares at current levels for near-term targets of ₹226 and ₹248 apiece. However, one must maintain stop loss at ₹197 while taking any position in Man Infraconstruction shares," Shiju Koothupalakkal of Prabhudas Lilladher said.

Quant Mutual Fund shareholding

As mentioned above, Man Infraconstruction has investments from Quant Mutual Fund. As per the shareholding pattern of Man Infraconstruction for the October to December 2023 quarter, Quant Small Cap Fund owns 60.30 lakh company shares, which is 1.62 percent of the total paid-up capital of the company.

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