Over the last month, Macrotech Developers has outshined the market with a remarkable 34.89% increase, compared to the Sensex's modest 1.78% growth. In the past three months, the stock leaped 54.64% against the Sensex's 9.03% uptick.

The stock has also surpassed the market's performance over the past year, climbing 19.98% in contrast to the Sensex's 19.80% ascent.

From a technical standpoint, the stock's daily RSI (relative strength index) stood at 73.81. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

On the daily chart, the stock was trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 500.40, 484.71 and 499.24, respectively. These levels are expected to serve as significant support points in the near future.

Macrotech Developers (Lodha Group) is primarily engaged in the business of real estate development. The company's net profit jumped 39% to Rs 744.36 crore despite of 5.5% decline in net sales to Rs 3,255.38 crore in Q4 FY23 over Q4 FY22.