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Ackruti City, the Mumbai-based real estate company, saw the price of its scrip rise by 3.57 per cent, on a day that saw the broader index, the Sensex, fall by 1.43 per cent.
On Monday, the stock price of Ackruti City went up to Rs. 225.05 a piece, up Rs. 7.75 from its previous close of Rs. 217.30 on the BSE. On the NSE, the scrip moved up by Rs. 5.95 to close the day at Rs 222.50 from its previous close of Rs 216.55. The lowest it touched in the day was Rs. 216.75.
The spike in the stock price came after the company released a statement on the Web sites of both BSE and NSE, clarifying its position on the unusual price movements that the company scrip has experienced. “During the period from March 1, 2011 till date, the company did not possess any price sensitive information or made any announcement which could have bearing on the price / volume behaviour of the company's scrip,” said a statement put up on the BSE Web site.
Since March 1, 2011, the company scrip price has moved up by about Rs 15, which is an increase of around 7 per cent. On March 1, 2011, the scrip closed at Rs. 210.30. On March 3, it went up to Rs 218.15 and then slipped to Rs 217.30 on March 4. As on March 7 (Monday), the scrip closed at Rs. 225.05. The markets were closed on March 2on account of Maha Shivraathri.
On Monday, the BSE Sensex closed at 18,222.67, while the NSE saw its benchmark index, S&P CNX Nifty, end the day at 5,463.15. The Sensex slipped down by 263.78 points and the Nifty by 75.60 points.
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