Unitech shares fell more than 16 percent

Unitech on Wednesday slipped more than 16% after the Supreme Court stayed NCLT order allowing the Centre to take over the management of the embattled firm.The Supreme Court on Wednesday stayed the December 8 order of the company law tribunal NCLT in this respect.Following the development, Unitech stock fell to a low of Rs 6.43 on the BSE, down 16.38% over its previous closing price.On the NSE, a similar movement was seen where the stock opened at Rs 7.55, but fell to a low of Rs 6.40, down 16.33%.A bench comprising Chief Justice Dipak Misra and Justices A M Khanwilkar and DY Chandrachud considered the statement of attorney general KK Venugopal that the government should not have moved the National Company Law Tribunal (NCLT) when the apex court was seized of the matter.