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Monday, 11 December 2017

Unitech shares rise 20% as NCLT allows govt to appoint 10 directors

Stocks, Unitech stocks, Best Trading advisory, Money Maker Research, Top Advisory
Shares of Unitech Limited rose 20 percent in morning trade Monday, after the NCLT authorized the government to appoint its 10 nominees on the board of the realty firm. 

Shares of Unitech Limited opened on a bullish note today at Rs 8.40, and subsequently rose to a high of Rs 8.70, clocking a jump of 19.34 percent over its previous closing price on the BSE. Similar progress was also registered on the NSE, where the stock opened at Rs. 8.40 and touched a high of Rs 8.70, up by 19.47 percent over its last close.

The NCLT (National Co. Law Tribunal) on Friday dismissed the board of Unitech Limited while hearing the central govt’s plea to take control of the real estate company and directed the ministry of corporate affairs to nominate ten directors to the board.


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