Unitech closes at lower circuit after hitting a new high

Unitech Ltd closed at the lower circuit at Rs.9391.35, down by 5% after hitting a new all-time high of Rs.10379.9. The stock is on a roll since January 2006. The stock was trading at Rs.1086.75 on January 2, 2006. Since then the stock has surged to hit a new high of Rs.10379.9 today.

The company has very little floating stock which has led to this steep rise. The company has announced a 12:1 bonus issue and a stock split in the ration of 1:5.

Today is the first day the stock is closing lower compared to its previous close since 5 April, 2006. The stock was trading at Rs.2918.95 on 5 April, 2006.

88572 shares were traded during the day. The turnover stood at Rs.8881.37 Lakhs.

The stock hit an intraday high of Rs.10379.9 and low of Rs.9391.35.

Source : Equity Bulls

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