Unitech stock falls over 5% on BSE

Unitech stock falls over 5% on BSE

Mumbai: Shares of realty firm Unitech on Tuesday dropped by over 5% in morning trade on the Bombay Stock Exchange (BSE), hit by a dip in net profit for the third quarter ended 31 December, 2010.

On Monday, Unitech had reported a 36.73% decline in consolidated net profit for the quarter ended 31 December, at Rs111.36 crore due to losses incurred by disposal of a capital asset.

The scrips tumbled by 5.66% in early session on the BSE to touch a low of Rs34.15.

Profit booking dragged down shares of Unitech on the National Stock Exchange (NSE) as well, where it tumbled by 5.93% to a low of Rs34.10.

On the volume front, over 3 crore shares of the company were traded on the two bourses during the early trade.

Barring Monday’s gain of 3.87%, the shares had been on a downward spiral by shedding over 21% on the BSE for the last four trading sessions.

Meanwhile, the BSE 30-share barometer Sensex was trading lower by 132.19 points at 18,070.01 at 10:35 am.