Unitech rises as telecom arms get 4.4 MHz spectrum

DALAL STREET SPIKES

Shares of Unitech rose by 5.12 per cent to close at Rs 37.95, after the company announced that its telecom subsidiaries have received 4.4 MHz of spectrum in the 1,800 MHz GSM bandwidth in four service areas. They are Assam, Rajasthan, North East and Jammu & Kashmir.

With this, the company has been allotted spectrum in 20 of the total 22 service areas in the country. The stock made an intraday high of 38.55 and a low of Rs 33.9 with trading volumes of around 2.73 crore shares. The stock gained around 65 per cent in the past one month.