Unitech surges on proposed Greater Noida exit policy

NEW DELHI: Shares of Unitech ended higher by 16 per cent on Monday amid reports that the authorities in Greater Noida may soon implement an exit policy to allow builders to surrender surplus land.

Reacting to the development, the scrip gained 20.1 per cent to hit a high of Rs 4.90 on the BSE. The scrip has slumped 30 per cent in the year so far through June 12.

Authorities of Noida, Greater Noida and Yamuna Expressway will soon firm up a proposal on this and send it to the Uttar Pradesh government for approval, said Arun Vir Singh, CEO of Yamuna Expressway Industrial Development Authority (YEIDA), an ETRealty.com report said.