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Lodha Developers shares surge 8% after Morgan Stanley upgrade and strong Q1 showing

AI Market Summary
Lodha Developers shares surged after strong Q1 results and a Morgan Stanley upgrade to "overweight" with a higher target price, reinforcing confidence in the firm's demand and pricing momentum (higher presales and average selling price). The move underscores positive investor positioning in Indian real estate equities, though the catalyst is largely idiosyncratic rather than macro-driven.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT-1.77%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Shares of Lodha Developers (formerly Macrotech Developers) jumped 8% on July 28 after the company reported a robust first-quarter performance and Morgan Stanley (MS) raised its rating to "Overweight". The brokerage also lifted its price target to 1,450 Indian rupees, implying about 28% upside. For the quarter, Lodha Developers posted pre-sales of 463.0 billion rupees, up 4% year on year, while the average selling price rose 3% from a year earlier. The developments drove the stock's move on the day.
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