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Unitech shares down by 8 percent

By SiliconIndia   |   Thursday, April 28, 2011
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Bangalore: Unitech stock was among top losers after its price went down by nearly 8 percent. After opening the day at Rs.40.80, the stock touched its 52 week low of Rs.30.70, before closing the trade at Rs.40.45, with a loss of 7.54 percent. Through the day, 8996255 shares of Unitech were traded in the market with a PE ration of 16.55. Unitech is a real estate developer in India. It has six segments: real estate, construction, transmission towers, consultancy services, property management, hospitality and others. In Real estate the company has around 7,500 acres of geographically diversified land. Its real estate portfolio spreads across real estate segments including residential, retail, entertainment, hospitality, commercial and special economic zones (SEZs). The construction business includes operations in integrated engineering, procurement and services for civil construction and infrastructure projects. The company manufactures transmission towers and also undertakes projects for design and erection of towers, primarily for the power sector. Consultancy services include investment management and project management services. Hospitality includes operation and maintenance of clubs, which are a part of Unitech's townships. The company's consolidated net profit slumped 36.9 percent to Rs. 111.36 crore on 14.8 percent fall in total income to Rs. 659.79 crore in Q3 December 2010 over Q3 December 2009. Out of 31 analysts following the stock, 10 are recommending buying the stock and 7 are recommending outperform. The consensus recommendation is to hold the stock.
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