$Meghna Infracon shares rise 19% after residential project launch$

Meghna Infracon shares rise 19% after residential project launch

28 Jun 2024 CW Team

Shares of Meghna Infracon Infrastructure surged 19%, reaching a 52-week high of Rs 268 per share on the BSE. This significant increase followed the company's announcement of its new residential project, ?Rivaan,? located in Goregaon (West), Mumbai. Just a year ago, on June 27, 2023, the stock had hit a 52-week low of Rs 138.

In an exchange filing, Vikram Jayantilal Lodha, the managing director of Meghna Infracon Infrastructure, stated that the upscale residential project spans approximately 100,000 square feet of carpet area.

?The launch of ?Rivaan? marks a significant milestone in our journey towards becoming the preferred luxurious real estate developers in Mumbai. The construction work at the site has commenced and will be executed according to the scheduled timelines,? he added.

The ?Rivaan? project offers a community living concept with 1 and 2 BHK residences, along with commercial units on the first floor, located in the prime area of Goregaon West.

According data, the company recorded Rs 129 million in revenue for the fiscal year 2022-23 but posted a net loss of Rs 19.7 million. Meghna Infracon Infrastructure, a microcap firm, has a total market capitalisation of Rs 4.6 billion. Currently, the company?s shares are trading at a price-to-earnings multiple of 1576.98 times with an earnings per share of Rs 0.25. (Source: BS)

Your next big infra connection is waiting at RAHSTA 2025 – Asia’s Biggest Roads & Highways Expo, Jio World Convention Centre, Mumbai. Don’t miss out!

Infrastructure Urban

08 Sep 2025

DRDO Transfers Key Defence Materials Tech to Industry

The Defence Metallurgical Research Laboratory (DMRL) of DRDO in Hyderabad has transferred three advanced indigenous materials technologies to leading Indian industry partners, marking a major step towards self-reliance in strategic defence manufacturing. The Licensing Agreement for Transfer of Technology (LAToT) documents were handed over by Dr Samir V Kamat, Secretary of Defence R&D and Chairman of DRDO, at a ceremony held at DMRL on 30 August 2025.The transferred technologies include:High-Strength Radomes: Transferred to BHEL, Jagdishpur, this technology enables the manufacture of high-p..

Infrastructure Energy

08 Sep 2025

Coal Ministry Honours Top Mines for Safety and Sustainability

The Ministry of Coal hosted the Star Rating Award Ceremony in Mumbai to recognise outstanding coal and lignite mines for their achievements in safety, environmental responsibility, scientific operations, and community welfare. Union Minister of Coal and Mines Shri G. Kishan Reddy, accompanied by Minister of State Shri Satish Chandra Dubey and Secretary Shri Vikram Dev Dutt, presented the accolades.The awards celebrate mines that have demonstrated excellence across key parameters such as safety, productivity, scientific mining, environmental stewardship, and socio-economic impact. The Minister ..

Infrastructure Urban

08 Sep 2025

Modi Highlights Decade of Bold Economic Reforms

Prime Minister Shri Narendra Modi reaffirmed the government’s steadfast commitment to economic reforms over the past decade, highlighting transformative measures that have redefined India’s fiscal structure and enhanced its global economic position.Citing major initiatives such as corporate tax cuts to encourage investment, the implementation of the Goods and Services Tax (GST) to unify the national market, and reforms in personal income tax to improve Ease of Living, Modi emphasised that the reform agenda has consistently been citizen-focused and pro-growth.He welcomed the ongoing #NextGe..