Unitech

For a company that has been hit the hardest in a sector that has borne the brunt of the most dramatic bear market in the last fifty years, Unitech has found a lifeline. The real estate giant today announced that it had successfully negotiated a deal with telecom giant Telenor to sell Sixty percent of its stake in its mobile telecom enterprise Unitech Wireless. The deal is significant because the 60% stake sale will bring in 6,250 Crore rupees or $1.3 billion for Unitech and for the Norwegian company Telenor, it grants an entry point into India’s rapidly growing telecom market.

Move over Donald Trump, India has embraced the celebrity endorsed real estate phenomenon and early word is that Indian celebrities increase purchase prices by 10-15%. The India Street has examined a number of the most prominent celebrity endorsements for real estate builders and projects and has rated them accordingly. The rating is not a statement of the project quality, but a statement on the suitability of the brand ambassador.

The Bombay Stock Exchange (BSE), founded in 1875 with 318 members, is the barometer of the Indian stock market. Located at Dalal Street in the central business district of Mumbai, the stock exchange accounts for a market capitalization of nearly USD 1 trillion.

Mumbai, India: DLF Ltd has said it would invest Rs 3,500 crore - roughly a third of its planned initial public offering (IPO) - in building up its land reserves. This is significantly lower than its earlier plan of investing Rs 6,500 crore for the purpose.

Announcing its plans here today, DLF said it hoped to raise Rs 9,625 crore through a public issue of 1.75 crore shares in the price band of Rs 500-550 between June 11 and 14.