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Macrotech Developers Ltd, the recently listed real estate company, surged 10 per cent to Rs 754 on the BSE in the intra-day trade on Friday, having rallied 14 per cent in two days, after the company released operational performance for the quarter ended June 2021 (Q1FY22).
The stock was trading at its highest level since its listing on April 19, 2021. Besides, with the past two days’ rally, Macrotech Developers is now up 55 per cent against its issue price of Rs 486 per share. At 01:50 pm, it was trading 7 per cent higher at Rs 734 as compared to a 0.39 per cent rise in the S&P BSE Sensex. A combined 1.5 million shares have changed hands on the counter on the NSE and BSE till the time of writing of this report.
In its quarterly business update, Macrotech Developers said that it pre-sales clocked a growth of 88 per cent YoY at Rs 957 crore relative to Rs 509 crore reported in Q1FY21. The company’s pre-sales, however, were down by 62 per cent compared with Rs 2,531 crore in Q4FY21.
Stock Covered in the news
