Unitech in top-30 BSE club

Real estate major Unitech entered the elite club of 30 scrips with highest market capitalisation on the Bombay Stock Exchange, as its share price jumped another 5 per cent on Wednesday while shrugging off the overall sluggish trend in the market.

The company's share price rose by Rs 639.15 to hit its upper circuit limit for the day at Rs 13,422.80, while taking its market cap to Rs 16,765.08 crore (Rs 16.76 billion).

Unitech's share price has jumped more than 30 times from its 52-week low of Rs 428 hit on June 21, 2005.

Unitech was placed at 30th place in the list, while Grasim Industries, which is present in the 30-share benchmark Sensex moved out of the list.

Grasim's market-cap stood at Rs 15,761.51 crore (Rs 157.61 billion) on the back of a plunge of more than 8 per cent by mid-afternoon trade, down from Rs 17,198.89 crore (Rs 171.98 billion) before the market opened on Wednesday.

After opening at its intraday high of Rs 13,422.80, the stock had slipped to as low as Rs 12,144.50 while reflecting the sharp weakness in the broader market movements. However, the stock soon recovered from its low and once again surged to its day's high.