Don’t miss action in this stock that has announced bonus shares!

In Q4FY23, net profit increased by 38.66 per cent over Q4FY22.

Macrotech Developers Ltd also known as Lodha Developers announced that The Board has taken note of the robust performance and decided to reward shareholders with bonus shares in the ratio of 1:1. The company verified the record date for the bonus issue of shares as Wednesday, May 31, 2023.

Macrotech Developers is a Large-Cap company having a market cap of over 50,000 crore. The company have reported positive numbers in the Quarterly Results and annual results. In Q4FY23, net profit increased by 38.66 per cent over Q4FY22. The pre-sales in FY23 were Rs 12,064 crore (up 34 per cent YoY) and in Q4FY23 at Rs 3,025 crore. The company has reduced the debt by Rs 2,229 crore to Rs 7,071 crore in FY23.

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Macrotech Developers Ltd is primarily engaged in the business of real estate development. It is among the largest real estate developers in India with a presence in MMR (Mumbai Metropolitan Region) and Pune markets.

Today, shares of Macrotech Developers zoomed 3.82 per cent to Rs 1,060 per share from its previous closing of Rs 1,021.30 per share. The stock has a 52-week high of Rs 1,191 and a 52-week low of Rs 711. The stock had an intraday high of Rs 1,064.80 and an intraday low of Rs 1,000.05.

The stock gave 15 per cent returns in just 1 month and over 30 per cent in 3 months. Investors should keep a close eye on this realty stock on their watchlist.