Unitech sells 74-acre land for Rs 260 crore
During the Union government's demonetisation drive, the real estate sector was the biggest hit by the cash crunch in the country. One of the top listed real estate companies, Unitech has sold around 74-acre land in Gurgaon, Chennai and Hyderabad for Rs 260 crore to boost its cash flow and complete its ongoing projects.
The Gurgaon-based developer has sold 41 acres in Hyderabad for Rs 160 crore, 19.05 acres in Chennai for Rs 67 crore and 13.55 acres in Gurgaon for Rs 33 crore.
"With the implementation of RERA, the overall real estate market is expected to get a boost as the projects are going to get ring-fenced financially and operationally, which will, in turn, help developers in timely delivery of the projects," Unitech MD, Ajay Chandra said to a leading business news agency.
Stock View :-
Unitech Ltd ended at Rs 5.06, down by Rs 0.18 or 3.44% from its previous closing of Rs 5.24 on the BSE.
The scrip opened at Rs 5.24 and touched a high and low of Rs 5.24 and Rs 5.02 respectively. A total of 14332742(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1323.85 crore.
The BSE group 'A' stock of face value Rs 2 touched a 52 week high of Rs 9.05 on 18-Jul-2016 and a 52 week low of Rs 3.89 on 29-Dec-2016. Last one week high and low of the scrip stood at Rs 5.44 and Rs 4.98 respectively.
The promoters holding in the company stood at 20.6 % while Institutions and Non-Institutions held 13.94 % and 65.47 % respectively.
The stock traded below its 100 DMA.
The Gurgaon-based developer has sold 41 acres in Hyderabad for Rs 160 crore, 19.05 acres in Chennai for Rs 67 crore and 13.55 acres in Gurgaon for Rs 33 crore.
"With the implementation of RERA, the overall real estate market is expected to get a boost as the projects are going to get ring-fenced financially and operationally, which will, in turn, help developers in timely delivery of the projects," Unitech MD, Ajay Chandra said to a leading business news agency.
Stock View :-
Unitech Ltd ended at Rs 5.06, down by Rs 0.18 or 3.44% from its previous closing of Rs 5.24 on the BSE.
The scrip opened at Rs 5.24 and touched a high and low of Rs 5.24 and Rs 5.02 respectively. A total of 14332742(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 1323.85 crore.
The BSE group 'A' stock of face value Rs 2 touched a 52 week high of Rs 9.05 on 18-Jul-2016 and a 52 week low of Rs 3.89 on 29-Dec-2016. Last one week high and low of the scrip stood at Rs 5.44 and Rs 4.98 respectively.
The promoters holding in the company stood at 20.6 % while Institutions and Non-Institutions held 13.94 % and 65.47 % respectively.
The stock traded below its 100 DMA.
Unitech Ltd :-
BSE 5.06 [0.18] ([3.44]%)
NSE 5.05 [0.15] ([2.88]%)
Comments
Post a Comment