Macrotech Developers shares rally 6% as Kotak Institutional Equities upgrades to buy rating

Macrotech Developers' shares surged 6.2% after Kotak Institutional Equities upgraded its rating to 'buy' with a target price of Rs 1,340, indicating a 12% upside. The company has shown steady pre-sales growth, and infrastructure projects around its Palava township are expected to drive further growth. The brokerage highlighted Macrotech's strong track record and attractive valuation.