India's Macrotech Developers up on positive outlook from Jefferies

Lodha Developers

30/10/2023 09:18

** Shares of Macrotech Developers  MACE.NS  up 5.5% at 777.95
rupees
    ** Real estate developer on Saturday posted a 1.4% fall in
Sept-qtr profit before share of profit in joint ventures
    ** Analysts at Jefferies say profit in line with
expectations; add company is on track to beat its
annual 20% sales growth guidance
    ** Brokerage maintains "buy", raises PT to 860 rupees, a
16.63% upside to stock's last close
    ** Average rating of 15 analysts close to equivalent of
'buy;' median PT is 750 rupees - LSEG
    ** Shares last up 3.9%, taking YTD gains to ~40%

($1 = 83.2240 Indian rupees)

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