India's Macrotech Developers slumps on Q1 profit fall

Lodha Developers

28/07/2023 05:19

** Shares of real-estate firm Macrotech Developers  MACE.NS 
down as much as 4.43% to 695.15 rupees, their lowest since July
21
    ** Co logs sharpest intraday pct loss since July 7
    ** MACE reported a 34.1% fall in its consolidated net profit
for the quarter ended June 30, at 1.78 billion rupees ($21.64
million)
    ** Brokerages bullish on co, with 12 out of 15 firms rating
stock a "buy" or above, and 3 rate it a "hold; their median PT
is 631 rupees
    ** About 303,593 shares change hands as of 9:40 a.m. IST, vs
0.3x 30-day average of 1.2 million shares 
    ** Stock up 33.4% YTD as of last close


($1 = 82.2539 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))