Short covering also took place in RNRL (futures up 22 per cent, OI down by 51.48 lakh shares), Reliance Energy (futures up 18.6 per cent, OI down by 57,750 shares) and NTPC (futures up 13.3 per cent, OI down by 25.11 lakh shares).
Tata Teleservices MD, Charles Anthony, has called it quits.
The market wide open interest declined by 15 per cent and is 25-30 per cent below the peak levels, indicating covering of long positions. The Nifty futures OI declined further by 19.5 per cent or 74.45 lakh shares. The current Nifty January OI of 30.97 million shares is the lowest for the current month series.
In a desperate attempt to grab spectrum and start operations in new circles ahead of rivals, leading GSM operators have informed the government that they are willing to start services with less than 4.4 MHz spectrum. Vodafone Essar has intimated its willingness to start operations in new circles where the availability of spectrum is less than 4.4 MHz.
You can now pay all your bills with your phone.
They have increased their holdings in Infosys Technologies, TCS and Wipro between two and four per cent, going by the shareholding data for the quarter ended December 31, 2007.
The company has launched a new card, the India One Pre-paid, under which users can make STD calls at a flat rate of Re 1 per minute. SMSes to any destination in the country would also be charged at a flat rate of Re 1 per message, BPL Mobile director and CEO S Subramaniam told Business Standard in an interview.
Global IT companies will add around 1.08 lakh employees in India by 2010, by increasing the headcount to 2.73 lakh. This would be a 65.25 per cent increase from the 1.65 lakh employed by the end of 2007.
The Essar group of Shashi and Ravi Ruia was the biggest overseas borrowers, mobilising $4.67 billion for Essar Global ($3.59 billion) and Essar Oil ($1.08 billion). AV Metal mobilised $3.1 billion followed by Reliance Industries ($2.7 billion), OP Jindal group ($2.40 billion), Tata Steel ($2.38 billion), Guru Gobindsingh Refineries ($1.95 billion), Suzlon Energy ($1.87 billion) and ICICI Bank ($1.8 billion).
DoT opposes the auction of 2G spectrum as anti-consumer and warns PMO that such a move can result in monopolising of mobile services in India.
The Anil Ambani group has already readied a war chest for the new initiative.
Company targets sale of one million handsets a year.
The BSE Small-Cap Index (up 34 per cent) and the BSE Mid-Cap Index (up 28 per cent) have outperformed the Sensex (up 16 per cent) in the last two-and-a-half months, while the NSE Junior Nifty (up 25.4 per cent) and the NSE Mid-Cap Index (up 30.2 per cent) have beaten the S&P CNX Nifty (up 20.4 per cent) during the same period.
In a move that will result in further snowballing of the spectrum issue, British telecom major Vodafone has termed the Reliance Communications' (RCom) allegations "as false and inconsistent with the facts".
The move by three major telecom service providers - Bharti Airtel, Vodafone Essar and Idea Cellular - to set up a consortium for passive infrastructure is gaining ground, but independent telecom infrastructure providers are yet to be convinced.
The Telecom Regulatory Authority of India has authorised service providers to either penalise errant telemarketers with a fine of Rs 500 per unsolicited call or disconnect their lines following subscriber complaints.
Reliance Communications chairman Anil Ambani has proposed that the government should make it mandatory for telecom service providers to surrender additional spectrum that they are not utilising. Putting his proposal into practice, Ambani has also conveyed his willingness to surrender the extra 1.8 MHz spectrum that his group has in the Bihar circle.
Upping the ante in the ongoing spectrum war, Reliance Communications chairman Anil Ambani has shot off a missive to the Department of Telecommunications (DoT), accusing GSM operators of having cornered spectrum under the valuable 900 MHz.
Chennai-based Indowind Energy is in advanced stages of negotiations to acquire a wind energy company in Europe for an estimated price of around $100 million (Rs 400 crore). The acquisition, if successful, will help the wind energy and farming company to expand its footprint both in domestic and global markets.
Vodafone-Essar, the leading GSM operator is raising around $500 million (Rs 2,000 crore) through overseas borrowing. This is the first fund raising by the telecom major after British telecom major Vodafone acquired a majority stake.
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