Unitech bags spectrum in Gujarat and UP Service Areas
Unitech, India's second-biggest real estate developer, has informed that the Department of Telecommunications (DoT) has issued the letters to its telecom subsidiaries for the allotment of 4.4 MHz of spectrum in the 1800 MHz GSM band in Gujarat and Uttar Pradesh (West) Service Areas.
With this allotment, Unitech has been allotted intial spectrum in 12 service areas out of the 22 circles.
Earlier this month, the company received spectrum in Maharashtra, Mumbai, Punjab and Uttar Pradesh (East) service areas.
In February 2008, the company was allotted Unified Access Services Licences for all 22 telecom circles across India.
Unitech stock has melted down very badly in recent market fall. According to market experts, the counter has reached its potential bottom and the stock is attractively priced for investors having long term view.
During Friday's session, the scrip has touched 52-week-low of Rs 109.
Unitech is engaged in the business of construction, real estate development, consultancy in related areas, hotels, electrical transmission, development of amusement parks and information technology.