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This multibagger stock rises over 140% in 6 months

Multibagger Stock: Shares of Macrotech Developers Limited (Lodha) have given multibagger returns since listing in April. Realty Multibagger stock has gained over 140% in the last six months. Shares of Macrotech rose 7% in Thursday’s deals after reporting strong pre-sales for the second quarter along with improving collections. Brokerage firm ICICI Securities remains positive on the stock and has increased the target price for the same.

Macrotech Developers (Lodha) is one of the largest real estate developers in India. Its main business is residential real estate development and commercial real estate projects. ICICI Securities has revised its target price to Rs 1,129 per share (earlier Rs 927) and retained its ‘ADD’ rating on Multibagger stock. However, it said that the major risks to its rating are the lack of demand in the MMR residential market and rising interest rates in India.

The brokerage said, “We expect another three to four new JDA signings in H2FY22 in the eastern and western suburbs of Mumbai and the Thane region. The company’s two London projects saw sales bookings of GBP145 million (₹14.5 bn) in Q2FY22, which is an additional positive. “

Stock market experts say that despite some restrictions in July due to the second wave of Kovid-19, the company’s pre-sales have made a very strong comeback. Experts expect the festive season to be much better for the company. The company has also announced a new project in Mumbai and has reduced its debt in Q2FY22.

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

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