Markets are still in the negetive zone as selling pressure grew. Signals from the Asian markets are also not that promising, the Nikkei index and the Hang Seng are flat.

Unitech, a real estate major has been allotted 4.4 MHz of Spectrum in four states.
The Department of Telecommunications (DoT) has issued the letter to the company’s telecom subsidiaries for allocation of 4.4 MHz of spectrum in 1800 MHz GSM band in respect of the following service areas.

The financial end of telecom deal between Telenor and Unitech is likely in January 2009 instead of December 2008, Unitech stated in its announcement made to the BSE.

Unitech is presently trading at Rs 38.45, up by 1.35 points or 3.64% from its previous closing of Rs 37.10 on the BSE.

Unitech, real estate giant, which has been in the news lately, announced on Thursday that it will lessen its workforce as part of its cost cutting initiatives.

Unitech has gone up by 4% higher to Rs38.75.

Unitech promoter Ramesh Chandra and his family contemplate to offload their 25% stake in Orissa Sponge Iron & Steel.

Unitech has announced that the Board of Directors of the Company have sanctioned raising of additional long-term funds upto Rs50bn or equivalent thereto in other currencies, through issuance of further securities in the Company.

Unitech’s shares have rushed forward by over 5% to Rs34.5 after reports stated that the company plans to invest Rs25bn to develop 35 hotels over the next seven years.

Unified Access Services’ Unitech has received a letter from Department of Telecommunications (DoT) in the name of the company’s telecom subsidiaries