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Macrotech Developers surges 6% on heavy volumes; stock up 26% in 4 days

According to analysts, Macrotech Developers is expected to benefit from resilient housing demand, supply consolidation and peaking out of high interest rates.

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SI Reporter Mumbai
Shares of Macrotech Developers surged 6 per cent to Rs 906.30 in Thursday's intra-day trade, amid heavy volumes. In comparison, the S&P BSE Sensex was down 0.55 per cent to 59,081 at 11:05 am.

In the past four trading days, the stock of real estate firm rallied 26 per cent. It had hit a 52-week low of Rs 711 on February 24, 2023. Despite of four days rally, in the past one month, Macrotech Developers has underperformed market as shares fell 12 per cent, as against 1.4 per cent decline the Sensex.

Macrotech Developers, which sells its properties