Unitech has dipped 3% to Rs 13.30, its lowest level since March 2006, on the Bombay Stock Exchange (BSE).
The stock opened at Rs 13.85 and has seen a combined 18.35 million shares changing hands on the counter till noon deals on the BSE and NSE.
Since December 04, 2013, shares of the real estate developer have tanked 23% from Rs 17.30 amid reports that the company has received a default notice from LIC Housing Finance on a loan taken in 2007 for a luxury housing project in Noida.
The BSE Realty index has declined 1.6%, while the benchmark S&P BSE Sensex gained 1.8% during the same period.
On clarification, Unitech in a BSE filing said "With reference to the news story on CNBC-TV18 on 4th December 2013, we would like to clarify that due to our confidentiality agreement with the lender, we cannot comment on the specifics of these media report(s). However, our financial results for the relevant quarter will reflect no pendency with the said lender. Further please note that we do not have any exposure to LIC Housing Finance Ltd."
The stock opened at Rs 13.85 and has seen a combined 18.35 million shares changing hands on the counter till noon deals on the BSE and NSE.
Since December 04, 2013, shares of the real estate developer have tanked 23% from Rs 17.30 amid reports that the company has received a default notice from LIC Housing Finance on a loan taken in 2007 for a luxury housing project in Noida.
The BSE Realty index has declined 1.6%, while the benchmark S&P BSE Sensex gained 1.8% during the same period.
On clarification, Unitech in a BSE filing said "With reference to the news story on CNBC-TV18 on 4th December 2013, we would like to clarify that due to our confidentiality agreement with the lender, we cannot comment on the specifics of these media report(s). However, our financial results for the relevant quarter will reflect no pendency with the said lender. Further please note that we do not have any exposure to LIC Housing Finance Ltd."
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