The share price of Unitech bounced back almost 42 per cent to close at Rs 42.70 on Monday after the company clarified that it has not defaulted on any payment and has sought a probe by Sebi into the fall in its share price on Friday.
Unitech lost more than half of its market value on Friday after media reports suggested that the company had defaulted in making payment of Rs 150 crore to the Greater Noida Development Authority. The stock hit an intraday high of Rs 45 and a low of Rs 27.20, with a trading volume of 27,319,811 shares (about 3.5 times its two-week average volume).
