Macrotech shares rally 5% as Nomura initiates coverage, sees 30% upside

September 16, 2024

Shares of Macrotech Developers rose 5% to Rs 1,297.60 on BSE after Nomura initiated coverage with a buy rating and a target price of Rs 1,600. The firm expects strong earnings visibility and pre-sales growth at 20% CAGR over FY25-26, supported by solid operating cash flow and low net debt.

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