Equity Alert: Akruti City down 16%; support seen at 780 rupees
MUMBAI--2:24PM--Akruti City shares plunged 16% to 826 rupees as
traders
sold shares amid weak outlook for the sector, dealers said.
The share had touched a 52-week high of 1,395 rupees on Jan 21.
Dealers and analysts have a negative bias on the share, as
sentiment for
the sector is cautious amid demand pressures and firm interest rates.
They have a wait-and-watch outlook on the sector and do not
recommend
buying the share.
The share is seen finding intraday support at 800 rupees and then
at 780
rupees, technical analysts said.
So far today, over 1 mln shares of Akruti City have been traded on
NSE.
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