Unitech soars 10.5% on warrant, security issue

The stock touched a day's high of Rs 74 and finally settled at Rs 71, up 10.6%.

The counter witnessed heavy volumes of trades of around 44 million shares. It is more than double the two-week daily average volume of 20 million shares.
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Updated at 1237 Hrs:

Unitech has soared 9% on news of issuance of warrants and security.

The stock opened at Rs 70. It slipped into the negative zone and touched a low of Rs 58.5.But it soon surged to a high of Rs 73, up 24%from the day's low. The stock is currently trading up 7% at Rs 70 on the BSE. The counter has clocked a volume of 23.36 million shares so far.

The company has informed the BSE that the board has approved plans to raise additional long-term funds by issuing further securities. It will also issue warrants to promoters on a preferential basis.