Jefferies advised him to buy shares of Macrotech Developers. This stock has given 44% return in six months. FII also invest money in this stock.
New Delhi. Global brokerage firm Jefferies is bullish on multi-bagger stock Macrotech Developers, which has returned 159 percent in a year. The brokerage says the stock can triple investors’ money in the next 5 years. Today i.e. Monday also the shares of Macrotech Developers (Macrotech Developers Share Price) closed at the level of Rs.1116.95 with an increase of 11%. The company had raised Rs 3,281 crore through Qualified Institutional Placement (QIP) this month. GQG Partners is also named among the buyers of shares in the QIP. Rajeev Jain, co-founder and chairman of GQG Partners, came into the limelight by investing in Adani stock after the Hindenburg report.
Regarding Macrotech Developers stock, Jefferies has said that the stock could reach a price of ₹3,000 by FY2029. The brokerage says the company could reap big gains from the housing upcycle. The company has a total township land bank of 600 million square feet in the suburbs of Mumbai. Changes in existing township land prices and the company’s foray into new areas could lead to pre-sales growth at a CAGR of 15% – 20% in the medium term. Due to these reasons, the value of the stock can increase well.
Also Read – Why Adani Group Shares Are In The Red? A ‘ghost’ like Hindenburg, an investor frightened by news of bribes, began to appear
Multi-bagger returns are given in one year.
Investors who invested in Macrotech Developers shares a year ago have made huge returns. This stock has given a multi-bagger return of 159% in one year. That means his money has tripled in just 12 months. The share price has increased by around 44% in the last six months. This multi-bagger stock has gained 6% so far in 2024.
Shareholding pattern
The promoters’ stake in the company was 72.67 percent as on March 7. At the end of December 2023, it was 74.92 percent. At the same time, mutual funds had a share of 0.57 per cent as on March 7. Foreign portfolio investors also hold 23.26 percent of the company’s shares.
(Disclaimer: The stock mentioned here is based on the advice of the brokerage houses. If you want to invest in any of them, consult a certified investment advisor first. News 18 of any profit or loss you make. will not be responsible).
Tags: money making tips, Multi bagger stock, Stock tips
First Publication: March 18, 2024, 18:57 IST
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