Maytas Properties, the realty division of Maytas Infra, has decided to shut down its four arms including hospitality, warehousing, affordable housing and retirement communities.

It is also learnt that the above decision has also resulted in the company issuing “pink slips” to about 80% of the 500 strong staff even as Maytas Properties has ceased most of its projects.

Hindustan Construction Company (HCC), one of the leading construction and civil engineering firm, has signed two MoUs with Gujarat Government for a total investment of Rs 41,500 cr.

The company stated in an official release that it has signed the first MoU with the Gujarat Government Infrastructure Board, to develop a water front city with a total investment of Rs 40,000 crore.

Sources revealed that the proposed new city will be on the lines of Lavasa, India's first hill city being built by the company near Pune, Maharastra.

The Union Ministry of Communications & Information Technology has provided 4.4 MHz of Spectrum in 1800 MHz GSM band to Unitech Ltd for the West Bengal telecom circle. The company has announced that it would soon start telecom services in the West Bengal Service Area.

The company has already been allotted spectrum in 21 service areas. The telecom arm of real estate major Unitech Ltd, Unitech Wireless is also planning to launch 3G services in near future. State run MTNL has already launched 3G services in national Capital Region.

Stock market analysts have maintained ‘buy’ rating on DLF stock with an intraday target of Rs 293.

According to them, interested traders can purchase the stock above Rs 279 with a strict stop loss of Rs 270. If the stock market remains positive, the stock pricing becomes more attractive, and reach above Rs 298.

Shares of the company, on Wednesday (Dec 31), closed at Rs 281.90 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 5232748. Current EPS & P/E ratio stood at 15.16 and 18.89 respectively. The share price has seen a 52-week high of Rs 1225 and a low of Rs 158 on BSE.

Unitech Ltd, India's second-largest listed property firm, has notified that its telecom subsidiary has received start up spectrum in four more service areas.

The allotment has been made for Assam, Rajasthan, North East and Jammu & Kashmir service areas.

Till date, out of the total 22 services areas in the country, the realty major has received spectrum in 20 circles to start its services.

Recently, Unitech has agreed to sell 60 per cent stake in the telecom business to Norway's Telenor, for Rs 6,120 crore.

Rajesh Exports Ltd, the country's largest manufacturer of Gold & Diamond Jewelry has postponed its real estate development plans by at least 18-24 months on concerns over slowdown in property demand.

A top company official said, "This is not a wise time to get into real estate business. We will not get into construction activities for the next one-and-a-half to two years."