Unitech is currently trading at Rs. 28.90, up by 2.90 points or 11.15% from its previous closing of Rs. 26.00 on the BSE.
The scrip opened at Rs. 26.45 and has touched a high and low of Rs. 29.25 and Rs. 26.35 respectively. So far 77,18,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 48.80 on 07-Apr-2011 and a 52 week low of Rs. 17.45 on 20-Dec-2011.
Last one week high and low of the scrip stood at Rs. 29.25 and Rs. 23.20 respectively. The current market cap of the company is Rs. 7,555.00 crore.
The promoters holding in the company stood at 48.57% while Institutions and Non-Institutions held 33.84% and 17.59% respectively.
Unitech has lowered its gross debt significantly by 40% from over Rs 9,000 crore in March, 2009 to about Rs 5,500 crore now and would further reduce the borrowing in coming quarters from operational cash flows.
Besides gradual reduction in debt, the company would infuse more funds on construction of ongoing projects for fast execution of about 80 projects across the country. It invested Rs 1,300 crore on construction last fiscal.
The company’s debt-equity ratio was in a comfortable position at 0.46% and is very low compared to peer groups. Unitech has cut debt by nearly Rs 400 crore in the first half of this fiscal.
In 2009-10 fiscal, the company had raised about Rs 4,500 crore from qualified institutional placement of equity shares, out of which about Rs 2,200 crore was utilised to cut debt.
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