Govt to seek court approval to take control of Unitech; stock surges 20%

Till 02:46 PM; a combined 145 million representing 5.5% of total equity of Unitech changed hands and there were pending buy orders for 15.73 million shares on the NSE and BSE.

Unitech was locked in upper circuit of 20% at Rs 7.29 on the BSE with no sellers seen on the counter after media report suggested that the government to seek court approval to take control of the realty major.

The Exchange has sought clarification from Unitech with respect to news article appearing on www.business-standard.com on December 08, 2017 about the said report. The reply is awaited.

The counter has seen an over 10-fold jump in trading volumes. Till 02:46 PM; a combined 145 million representing 5.5% of total equity of Unitech have changed hands on the counter on