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Stock Of The Day: Macrotech Momentum Turns Bullish At Key Support; Bags Kotak's 'Buy' Upgrade

Macrotech Developers reported record-breaking pre-sales and significant growth in collections in third quarter.

<div class="paragraphs"><p> Kotak Securities upgraded Macrotech Developers to 'buy' from 'add' with a target price of Rs 1,340 apiece.</p><p>(Source: Macrotech Developers Ltd. website)</p></div>
Kotak Securities upgraded Macrotech Developers to 'buy' from 'add' with a target price of Rs 1,340 apiece.

(Source: Macrotech Developers Ltd. website)

Shares of Macrotech Developers Ltd. saw a momentum switch to the upside — following a 26% decline from a recent peak — at their key support level, while Kotak Securities upgraded the stock to 'buy'. Excluding today's session, the scrip has fallen in 11 out of the 12 trading days this year, a plunge of nearly 20%. Shares of the real estate company have fallen over 30% since hitting an all-time high in July last year. The over 5% surge...
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