Unitech , fast growing real estate & construction company in India has reported quarterly profit of Rs 410 crore which is 298 % higher than the September quarter of the last year. This good result is due to increased business and better price realization in the industry. Stock movement of construction has not had its due to interest rate fluctuation. When the interest rate comes down in next few quarters construction stocks will see new heights.
Morgan Stanley has bought 1.25 cr shares at Rs 321.1/sh (0.8% stake)
Quantum sells 1.24 cr shares at Rs 321.1/sh on 24, October 2007.
Recommendation : good investment in medium to long term.
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