Unitech shares recover 5% in early trade

Feb 13 2013, 14:33 IST
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SummaryThe shares opened on a weak note but soon witnessed some buying at lower levels

Shares of Unitech today recovered more than five per cent in early trade on the bourses, after losing nearly 18 per cent yesterday.

The shares opened on a weak note but soon witnessed some buying at lower levels and accordingly the stock was an early high of Rs 30.25, up 5.21 per cent from its last close on the BSE.

A similar trend was witnessed on the National Stock Exchange as well, where the stock opened at Rs 29 and rose to Rs 30.25, higher by 5.21 per cent from its previous closing price.

Unitech, had tanked 17.86 per cent yesterday, after the CBI removed a public prosecutor from the 2G spectrum case to verify his alleged discussions on prosecution strategy with the realty firm's MD and an accused in the case, Sanjay

Chandra, in a taped conversation

Meanwhile, the CBI has taken voice samples of sacked public prosecutor A K Singh and Managing Director of Unitech Sanjay Chandra for identification.

The tapes purportedly containing voice of Singh and Chandra had been sent for forensic examination, CBI officials said, adding that the voice samples of the two had also been taken but would be handed over only after the examination of

the tapes was completed.

Unitech had, however, issued a statement rejecting the allegations saying Chandra has never met the prosecutor in the 2G case outside the court or had any phone conversation with him.

Unitech also denied that Chandra's voice was on any alleged recording and said it appeared a fabricated voice recording had been sent anonymously to CBI.

"It is nothing but an attempt to malign him and prejudice his defence in the 2G case," the company's statement had said.

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