Unitech declined 9.6% to 266.20 rupees, Parsvnath Developers lost 8.5% to 207 rupees and Indiabulls Real Estate plunged 10.2% to 510 rupees.

Metal shares declined. Hindalco Industries declined 9.7% 173.15 rupees, Tata Steel dropped 9.1% to 697 rupees and Steel Authority of India fell 11.6% to 192.80 rupees.

ICICI Bank declined 5.7% to 830 rupees and State Bank of India declined 6.8% to 1,685 rupees.

Bajaj Auto gained 1.5% to 2,124 rupees. All existing futures & options contracts on the stock expired today and new contracts will be introduced on, March 14 2008, after the company splits according to a court ruling.

As per the demerger scheme, the company''s various business units including auto manufacturing and other strategic businesses including wind energy, insurance and financial services, would be demerged into two newly incorporated subsidiaries Bajaj Holdings and Investments and Bajaj Finserv.

TCS dropped 7.3% to 765 rupees, Satyam Computers dropped 5.1% to 359.90 rupees and Wipro fell 6.8% to 363.55 rupees.

Bharat Heavy Electricals plunged 6.5% to 1,885 rupees.

Reliance Update

Reliance Industries declined 5.2% to 2,252 rupees and Reliance Capital declined 13.3% to 1,250 rupees.

Reliance Energy was down 11% to 1,183 rupees and Reliance Communications fell 7.8% to 497.50 rupees.

Corporate News

Bharti Airtel Lanka, a subsidiary of Indian telecom giant Bharti Airtel has signed a $100 million investment agreement with the Board of Investment of Sri Lanka to begin Lankan operation by this year.

The agreement is the second phase of the company''s commitment to invest $200 million in Sri Lanka over the next 5 years.

With mobile penetration in Sri Lanka estimated at around 30% growing at annual rate of 2 million mobile subscribers, Bharti hopes to expand its market share in five years.