The shares of Macrotech Developers were down by 4.70%, as of 2:27 pm, on Tuesday, a day after the company closed its QIP issue. The stock was trading at 1.2 times its 30-day average volume.
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It raised nearly Rs 3,547 crore through qualified institutional placement issue. on Monday.
Out of the 16 analysts tracking the company, 12 maintain a ‘buy’ rating, three suggest ‘hold’ and one analyst recommended to ‘sell’ the stock.
