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

The stock gave 12 per cent returns in 1 year and over 85 per cent in just 2 years. The shares of the company saw a spurt in volume by more than 2.29 times on BSE.

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 has revised 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 47,000 crore. The company has performed fantastic numbers in the Quarterly Results and annual results. In Q4FY23, net profit rose 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. Additionally, the company has added 12 new projects worth Rs 19, 800 crore GDV 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 0.51 per cent to Rs 982.40 per share from its previous closing of Rs 977.40 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 997.05 and an intraday low of Rs 974 with a spurt in volume by more than 2.29 times on BSE.  

The stock gave 12 per cent returns in 1 year and over 85 per cent in just 2 years. Investors should keep a close eye on this realty stock on their watchlist.