Unitech tanks on loan default notice - The New Indian Express

Unitech tanks on loan default notice

Published: 04th December 2013 05:19 PM

Last Updated: 04th December 2013 05:19 PM

Unitech, real estate developer in India, plunged on Wednesday after the media reports statedthe company received a default notice from LIC Housing Finance.The developertook Rs 3 billion loanin 2007 against its property in Noida. Shares ofthe companysettled at Rs 15.65, down Rs 1.65, or 9.54% at the Bombay Stock Exchange (BSE) on Wednesday.The scrip has touched an intra-day high of Rs 17.60 and low of Rs 14.80. The total volume of shares traded at the BSE is 16,933,464.In the earlier session, the shares gained 4.53%, or Rs 0.75, at Rs 17.30. Currently, the stock is trading down 61.74% from its 52-week high of Rs 40.90 and above 6.83% over the 52-week low of Rs 14.65.

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