Unitech soars 20% on heavy volumes

On July 6, Manish Lakhi purchased 15.48 million shares of the company at price of Rs 6.24 per share

Unitech is locked upper circuit of 20% at Rs 7.80 on the National Stock Exchange (NSE) with nearly five-fold jump in trading volumes.

Till 11:41 am; a combined 210 million equity shares representing 8% of total equity of Unitech have changed hands on BSE and NSE. There were pending buy orders for 11.88 million shares on both the exchanges.

In past two trading sessions, the stock of real estate developer has rallied 25% from Rs 6.24 on Wednesday, July 5, 2017.

In the past two weeks, Manish G Lakhi had bought more than 1% stake or 30 million shares of Unitech through open market purchases.

On Thursday, July 6, Lakhi had purchased 15.48 million shares of the company at price of Rs 6.46 per share on NSE. Earlier, on June 28, he had acquired 14.57 million shares at price of Rs 5.95, the NSE bulk deal data shows.

On May 16, 2017, Ritesh Girdharilal Lakhi had bought 19.49 million shares representing 0.75% stake in Unitech at price of Rs 5.92 per share, data shows. CLICK HERE FOR BULK DEAL DETAILS. 

The names of sellers were not identified.