Unitech declines on profit booking

Unitech fell 3.48% to Rs 5.83 at 14:34 IST on BSE, with the stock sliding on profit booking after recent rally.

Meanwhile, the S&P Sensex was down 138.85 points, or 0.46% at 29,788.49. The S&P BSE Small-cap index was up 45.05 points, 0.31% at 14,796.02.

On the BSE, 34.06 lakh shares were traded on the counter so far as against the average daily volumes of 73.21 lakh shares in the past one quarter. The stock had hit a high of Rs 5.95 and a low of Rs 5.80 so far during the day.

The stock had hit a 52-week high of Rs 9.05 on 18 July 2016 and a 52-week low of Rs 3.69 on 24 May 2016. The stock had underperformed the market over the past one month till 6 April 2017, declining 1.31% compared with the Sensex's 3.03% rise. The scrip had, however, outperformed the market over the past one quarter advancing 30.17% as against the Sensex's 11.84% rise.

The small-cap company has equity capital of Rs 523.26 crore. Face Value per share is Rs 2.

Unitech had rallied 19.13% in the preceding two trading sessions to settle at Rs 6.04 yesterday, 6 April 2017, from its closing of Rs 5.07 on 3 April 2017.

Unitech reported consolidated net loss of Rs 17.13 crore in Q3 December 2016, as compared with net loss of Rs 12.26 crore in Q3 December 2015. Net sales rose 2.9% to Rs 401.60 crore in Q3 December 2016 over Q3 December 2015.

Unitech is one of India's leading real estate player. It has a diversified product mix in real estate comprising of commercial complexes, IT/ITes parks, special economic zones (SEZs), integrated residential developments, schools, hotels, malls, golf courses and amusement parks.

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