Man Infra stock surges on release of Rs357.79cr arbitration award

The Arbitration Award was in favour of the company's subsidiary Manaj Tollway.

Sep 16, 2021 12:09 IST India Infoline News Service

Man Infraconstruction stock held steady on Thursday after the company announced the release of Rs357.79cr plus accrued interest by the Bombay High Court towards Arbitration Award in favour of subsidiary, Manaj Tollway.

According to the regulatory filing, Man Infra informed exchanges that the Hon'ble Supreme Court of India has dismissed the Special Leave Petition (SLP) filed by the Government of Maharashtra in the said matter and accordingly Hon'ble High Court at Bombay has, vide its order dated September 14, 2021, ordered and directed the Prothonotary and Senior Master, High Court, Bombay to forthwith release the amount deposited with it by the Government of Maharashtra to the tune of Rs357.79cr plus accrued interest.

At around 12.28 pm, Man Infra was trading at Rs85.25 per piece up 0.7% on Sensex.

The stock has touched an intraday high and low of Rs87.90 per piece and Rs83.35 per piece respectively. 

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