Unitech Limited
BOM:507878 ISIN:INE694A01020
Unitech Limited is a real estate developer in India. The Company operates in three segments: real estate, construction and telecom, while there are some other smaller related businesses like consultancy, hospitality and electrical transmission. The Company has a diverse portfolio within the real estate segment that includes residential, commercial, retail, entertainment, hospitality and special economic zones’ developments. The Company’s operations started initially as provider of consultancy services and then it entered into the business of third-party construction work. The project portfolio mainly covers highways, including roads and bridges and industrial projects, including civil structures, power plant chimneys and transmission towers. In February 2008, Unitech was allotted by the Department of Telecommunication, Government of India, Unified Access Services Licenses (UASL) for all 22 telecom circles across India.
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Most Asian stocks tumbled massively yesterday as the Obama government suggested a bankruptcy for the struggling US car makers. Most major indices in Asia opened higher on Tuesday despite sharp loss on Wall Street, largely due to optimism of the local economy and corporate performance.
Asian markets opened broadly firmer today after the Wall Street rally boosted by the unexpectedly good housing data in the US. Japan's Nikkei share average rose above the psychologically key 8,000 level in early trade.
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