Mumbai: Rising for the fourth-straight session today, stocks of Unitech surged over 8 %, following massive buying by investors. The stock jumped 7.76 % to settle at Rs 5.14 on the BSE. During the day, it soared 12.95 % to Rs 5.48. At NSE, shares of the firm surged 8.42 % to Rs 5.15.
On the volume front, 315.50 lakh shares of the company were traded on BSE and over 12 crore shares changed hands at NSE during the day.
While there was no clear reason for the rally in the stock, it had gained over 17% in the previous session also, amid a bulk deal that saw purchase of shares worth nearly Rs 7 crore. In four trading sessions, the stock has gained nearly 33%.
Rally in the stock comes against the backdrop of negative news flow regarding the real estate major. Responding to reports that the company has to pay over Rs 60 lakh for failing to deliver apartments, Unitech said it has not got the certified copy of the order.
