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."

India's leading realty play

The second largest realty firm of the country, Unitech Ltd would raise Rs 5,000 crore from the market through issuances of debt, equity and semi-equity. The plan is approved by the company's board after its meeting on January 19, 2009 following the approval of the stake holders. The funds would be used to repay debts of over Rs 8,000 crore. However, it would cause significant dilution of promoter's share in the company.  
 

Indian real estate firms demanded more monetary measures by government to increase demand in reality sector. Developers urged government to restructure debt and cut in interest rates to push growth rate of home segment. A team of reality firms, headed by National Real Estate development Council (NAREDCO) President, Rohtas Goel met Planning Commission Deputy Chairman, Montek Singh Ahluwalia and apprised him about the demands of developers.