Shares of Macrotech Developers Ltd., better known as Lodha Developers, fell sharply on Wednesday after a major block deal saw nearly 1% of the company's equity change hands at a discount to the previous closing price. The stock dropped 6.64% intraday, reflecting investor reaction to the sudden influx of supply in the market.
At market open, over 1 crore shares were traded in a series of block transactions, with the largest single deal involving 99.5 lakh shares. The trades were executed at Rs 1,384.90 per share, nearly 4% below Tuesday's closing price of Rs 1,442.30, as per Cogencis. The identity of the seller was not disclosed.
The sudden sell-off weighed on the stock, which has already seen a decline of over 6% in the past week and 8.25% over the last month. Year-to-date, the stock is down 1.01%, and it has slipped 1.21% over the past year, despite a modest 1.63% gain in the last three months.
Macrotech Developers, headquartered in Mumbai, is one of India's largest real estate firms with a focus on residential and commercial projects across major urban centers. In its Q1FY26 business update, the company reported a 10% year-on-year increase in pre-sales to Rs 4,450 crore and a 7% rise in collections to Rs 2,880 crore. It also added five new projects in Mumbai, Pune, and Bengaluru, with a combined gross development value of Rs 22,700 crore, already covering over 90% of its full-year development guidance.
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