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Macrotech Developers zooms on getting nod for raising of funds up to Rs 4,000 crore

22 Oct 2021 Evaluate

Macrotech Developers is currently trading at Rs. 1076.10, up by 45.75 points or 4.44% from its previous closing of Rs. 1030.35 on the BSE.

The scrip opened at Rs. 1061.00 and has touched a high and low of Rs. 1085.70 and Rs. 1030.00 respectively. So far 69141 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1225.30 on 14-Oct-2021 and a 52 week low of Rs. 421.15 on 19-Apr-2021.

Last one week high and low of the scrip stood at Rs. 1217.85 and Rs. 1000.85 respectively. The current market cap of the company is Rs. 47520.86 crore.

The promoters holding in the company stood at 88.51%, while Institutions and Non-Institutions held 9.80% and 1.70% respectively.

Macrotech Developers’ board has approved the proposal of raising of funds up to Rs 4,000 crore by way of further issuance of securities. The company reported its consolidated net profit at Rs 223.36 crore for the quarter ended September and announced plans to raise up to Rs 4,000 crore through issue of securities.

Macrotech Developers is one of the largest real estate developers in India, by residential Sales value for the financial years 2014 to 2020.

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