Unitech gains as Citigroup purchases bulk shares

Unitech rose 3.11% to Rs 7.30 at 10:09 IST on BSE after Citigroup Global Markets Mauritius bought 1.45 crore shares of the company at an average price of Rs 6.99 per share in a bulk deal on the NSE yesterday, 30 November 2015.

Meanwhile, the S&P BSE Sensex was up 38.32 points or 0.15% at 26,183.99.

On BSE, so far 29.83 lakh shares were traded in the counter as against average daily volume of 83.58 lakh shares in the past one quarter.

The stock hit a high of Rs 7.40 and a low of Rs 7.15 so far during the day. The stock had hit a 52-week high of Rs 22.75 on 28 February 2015. The stock had hit a 52-week low of Rs 5.40 on 25 August 2015.

The stock had underperformed the market over the past one month till 30 November 2015, sliding 6.84% compared with Sensex's 1.92% fall. The scrip had, however, outperformed the market in past one quarter, jumping 16.83% as against Sensex's 0.93% fall.

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

On consolidated basis, Unitech reported net loss of Rs 65.83 crore in Q2 September 2015, higher than net loss of Rs 14.70 crore in Q2 September 2014. Net sales rose 77.1% to Rs 683.90 crore in Q2 September 2015 over Q2 September 2014.

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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