Subrata Roy appears in Supreme Court, Sahara Group stocks post surprise gains

PTI Posted online: Tuesday, Mar 04, 2014 at 0000 hrs
Mumbai : Shares of two listed Sahara entities today posted surprise gains in the stock market, even as the group chief Subrata Roy was presented before the Supreme Court.

Shares of Sahara Housing Fina Corporation Ltd erased their initial losses and climbed 4.95 per cent to close at Rs 41.35 apiece on the BSE.

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Besides, scrips of Sahara One Media and Entertainment Ltd surged as much as four per cent to settle at Rs 65 apiece on the BSE.

The rise in Sahara's stocks is in line with a gain in the BSE's benchmark index, Sensex, which ended at 21,209.73 points, an increase of 1.26 per cent.

On the volume front, as many as 4,516 shares of Sahara Housing Fina were traded on the exchange, while 120 Sahara One Media & Entertainment shares got changed hands on the bourse.

At the end of today's trade, the market capitalisation of Sahara Housing Fina Corp was at Rs 28 crore, while that of Sahara One Media & Entertainment stood at Rs 139 crore.

Sahara chief, who was arrested on Friday, appeared in the Supreme Court today.

The apex court today said Roy will remain in custody.

The arrest warrant was issued against Roy in connection with the case in which his two companies -- Sahara India Real Estate Corp Ltd and Sahara India Housing Investment Corp Ltd - have been directed to refund Rs 20,000 crore to investors.