Significant movement in price has been observed in Unitech Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. Unitech Limited has submitted their response.
UNITECH · price
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The exchanges (NSE and BSE) wrote to Unitech Limited seeking clarification on significant price movement in the company's stock. In response, the company stated it has not withheld any material information required under SEBI regulations. The company highlighted that it is being run by an independent Board of Directors appointed by the Central Government with Hon'ble Supreme Court approval (orders dated 20.01.2020, 13.10.2022, and 25.02.2026). Under Supreme Court direction, the company has started awarding contracts for completion of various pan-India projects that had been stalled for 6-7 years, with construction activities already commenced on some projects. The company attributed the price and volume increase to market conditions and stakeholder positivity, stating it has no control over market factors.
The company denies any undisclosed material information, attributing the stock movement to market conditions and positive developments around project resumption. The ongoing Supreme Court-supervised restructuring and restarting of stalled projects may provide some confidence to stakeholders, though the company maintains no new material disclosure.