Promoters sold their stake

Shares of Lodha, known as Macrotech Developers on the stock market, dropped after the promoter Sambhavnath Infrabuild and Farms sold 49.7 lakh shares, equivalent to a 0.5 percent stake, in the real estate company at an average price of Rs 1,180.02 per share. The total value of the transaction was Rs 586.72 crore.Earlier this week, the company successfully raised Rs 3,000 crore through a qualified institutional placement (QIP). This marks the fourth fundraising round for the company in the past three years, bringing the total funds raised to over Rs 13,000 crore.