Macrotech Developers gains on inking pact with Skechers
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Macrotech Developers is currently trading at Rs. 1020.00, up by 6.80 points or 0.67% from its previous closing of Rs. 1013.20 on the BSE.
The scrip opened at Rs. 1001.05 and has touched a high and low of Rs. 1027.60 and Rs. 1001.05 respectively. So far 806 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1538.65 on 01-Dec-2021 and a 52 week low of Rs. 645.70 on 06-Jul-2021.
Last one week high and low of the scrip stood at Rs. 1064.45 and Rs. 985.25 respectively. The current market cap of the company is Rs. 49082.41 crore.
The promoters holding in the company stood at 82.22%, while Institutions and Non-Institutions held 16.36% and 1.43% respectively.
Macrotech Developers has entered into agreement with Skechers for new 1.1 million-square-foot distribution centre. The Skechers Distribution Centre will be undertaken in two phases, in phase one, which will be 660,000 square feet, is expected to be fully operational in mid-2023 and will be capable of shipping up to 1,00,000 units of footwear, apparel and accessories per day. The expansion of an additional 4,40,000 square feet is planned for completion in the next 3-4 years.
Macrotech Developers is primarily engaged in affordable residential real estate developments and in 2019, it entered into the development of logistics and industrial parks and also develop commercial real estate.
