State-owned BSNL will start 5G services in 2024, Union Telecom Minister Ashwini Vaishnaw said on Thursday. BSNL has shortlisted a TCS and C-DOT led consortium for rolling out 4G network, which will be upgraded to 5G in about a year of placing the order under the contract. "BSNL will start 5G services in 2024," Vaishnaw said while speaking to reporters in New Delhi.
The information and technology (IT) sector, which has been going through a rough patch lately, was among the top draws for equity mutual funds (MFs) in July. MF schemes together invested a net of Rs 1,800 crores in IT stocks last month after pulling out around Rs 700 crore from the sector in June, according to a report by ICICI Securities.
The decline in demand and rise in raw material prices due to high transportation costs are the major problems faced by micro, small and medium enterprises in the last 27 months, according to a survey. The report by Bhartiya Yuva Shakti Trust (BYST) also said that though markets have stabilised, about 57 per cent of the units that participated in the survey are struggling to get new orders for their merchandise. "Lesser purchasing power of consumers lead to reduced demand and increased raw material cost due to higher transportation cost with increase in fuel prices have been cited among key problems faced by entrepreneurs during the last 27 months," Lakshmi Venkataraman Venkatesan, founding and managing trustee, BYST, said.
The overall market breadth remained firm as 1,673 stocks are advancing while 1,303 are declining.
Air India on Monday announced a new compensation structure for its pilots and cabin crew, with a guaranteed flying allowance of 40 hours per month for both categories of staff. While the flying allowance has been doubled for pilots, it has been introduced for flight attendants as part of the new compensation structure. Pilots will earn an additional amount as a reward based on the number of years of service with the airline and get an allowance while undergoing training for command or conversion to another aircraft type.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
Capital markets regulator Sebi on Tuesday barred five brokerage houses for up to six months from making fresh applications seeking registration as commodity brokers as they failed to meet 'fit and proper' criteria in the NSEL case. The affected brokerage houses include India Infoline Commodities, Anand Rathi Commodities and Geofin Comtrade (banned for 6 months each), and Phillip Commodities and Motilal Oswal Commodities Broker (for 3 months each). "There were enough red flags for a reasonable person to come to conclude that what was being offered as paired contracts on NSEL were not spot contract in commodities," Sebi said in five separate orders.
UltraTech Cement's results for the fourth quarter results of the 2022-23 financial year (Q4FY23) were broadly in line with the Street estimates. The consolidated revenue, operating profit and net profit stood at Rs 18,700 crore, Rs 3,300 crore and Rs 1,670 crore, respectively, which were up 18 per cent, 8 per cent and 13 per cent YoY, respectively.
Bhupesh Chaubey from Robertsganj constituency in Sonbhadra district secured 84,496 (or 40.29 per cent) of the total votes counted, defeating his nearest rival, Avinash Kushwaha of the Samajwadi Party by over 5,600 votes, according to the Election Commission website.
All the action from the World Athletics Championships on Tuesday...
Tamil Nadu Health Minister Ma Subramanian on Wednesday attributed the mushrooming of COVID-19 clusters in the state and spike in cases in the city to students coming from other states, particularly North.
With the Adanis submitting an earnest money deposit (EMD) of just Rs 100 crore on Monday for the upcoming 5G spectrum auction, the apprehension among the rivals that the group is nursing ambitions of being an all-India mobile player has been allayed at least for now. Based on its EMD, analysts say it can buy spectrum worth just Rs 900 crore, whose use will be limited to enterprises and captive networks -- that too is likely only in a few circles where it has its infrastructure like ports, airports, and power stations. While getting all-India millimetre band spectrum of 400 MHz (which costs Rs 2,800 crore) is ruled out, it might choose circles like Gujarat and Mumbai to start with.
Rediff reader Raunak Singh, 30 from Noida tells us about his first job and salary.
'We were number one in commodity, currency, electricity, bonds, spot and everything. 'The purpose was to create an accident and then exploit it to eliminate the group. There were so many vested interests and therefore they did this," said Shah.
Kolkata-based billionaire Sanjiv Goenka, who bought the Lucknow franchise for a whopping Rs 7,090 crore during the IPL bidding in Dubai on Monday, said the team's valuation 'would be a multiple of a few times' over the next 10 years.
On the mathematical model which predicts 42,000 cases in the state by April end, the minister said, "The model is based on some scientific ground but it has taken the state's doubling rate of COVID-19 cases at 3.8.
Housing sales have jumped over two-fold during July-September period at 62,800 units across seven major cities on better demand driven by low mortgage rates and hiring in IT/ITeS sector, according to property consultant Anarock. Sales of residential properties stood at 29,520 units in the year-ago period and 24,560 units in the previous quarter. The seven cities tracked by Anarock are Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune.
Murmu's vote share is now likely to go past 61 per cent, while it was earlier estimated to be around 50 per cent at the time of her nomination.
Tentatively, watch for a rise beyond 5,820 to a new 52-week high, or a drop below 5,600.
The country's two top telcos, Reliance Jio and Airtel, are working overnight to undertake one of the fastest global roll-outs of 5G services in any country just a month down the line. India might be late in the game (already 70 countries have some kind of 5G and there are 698 million 5G subscribers across the world), but it's moving at breakneck speed. In his speech at the Reliance Industries AGM, Mukesh Ambani unveiled his plan to roll out the fastest 5G network in the world, starting from four metros in October but hitting every town taluka and tehsil - there are some 5,600 of them - in the country in 18 months.
Crisis-hit National Spot Exchange Ltd (NSEL) on Tuesday failed to pay investors any of the Rs 174.72 crore (Rs 1.74 billion) installment due to them, defaulting for the 13th straight time.
In his capacity as an member of Parliament from South Mumbai, Minister of State for Telecom and Shipping Milind Deora today wrote to Prime Minister Manmohan Singh and sought his intervention to resolve the settlement crisis facing the National Spot Exchange Ltd.
'People will say a lot of things -- ignore the noise.'
Crisis-ridden bourse NSEL defaulted for the 12th straight time today as it could pay only Rs 11 crore to investors against a scheduled payment amount of Rs 174.72 crore (Rs 1.74 billion).
The NSEL scam, involving Rs 5,600 crore, came to light after the now defunct exchange, promoted by Financial Technologies, failed to pay its investors.
Crisis-ridden bourse NSEL defaulted for the 11th straight time on Tuesday as it could pay only Rs 29 crore to investors against a scheduled payment amount of Rs 174.72 crore.
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The government asked the NSEL to become a responsible guarantor to the Rs 5,600-crore (Rs 56-billion) dues to investors and meet its commitments.
The 2020 Nobel Peace Prize has been awarded to the United Nations World Food Programme for its efforts to combat hunger. The Norwegian Nobel Committee said the WFP had acted "as a driving force in efforts to prevent the use of hunger as a weapon of war and conflict". Here's what you need to know about the Rome-based organisation:
The teams carried out a helicopter survey of the area on Tuesday to find clues as to what led to the massive flash floods that swept everything on the way.
Indian Oil Corporation (IOC), the nation's largest oil firm, has renewed a deal to buy up to 2 million tonnes of crude oil in 2022 from Russia's Rosneft, the Russian oil producer said. IOC had in February 2020 signed a deal with Rosneft Oil Company to import up to 2 million tonnes of oil via the port of Novorossiysk. In 2021, the deal envisaged supply of up to 1.7 million tonnes of crude oil but IOC bought just on parcel or shipload as the cost of transporting the oil made it uneconomical, when compared to alternatives. For 2022, the deal is for the supply of up to 2 million tonnes of oil from the Black Sea port of Novorossiysk.
The fate of India's upcoming tour of South Africa amid the trepidation triggered by new COVID-19 variant Omicron will be addressed when the Board of Control for Cricket in India holds its 90th Annual General Meeting in Kolkata on Saturday.
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
According to official figures released by the Delhi Transport Corporation (DTC) on Wednesday, over 4.77 lakh women availed pink tickets for free ride on the first day of the scheme on Tuesday.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Leading stock exchanges BSE and NSE have barred three entities from trading on their platform after they defaulted on dues in connection with Rs 5,600 crore (Rs 56 billion) payment crisis at National Spot Exchange Ltd (NSEL).
The investigators have already served summons to Shah and others directing them to appear before them for questioning.
Rajneesh Gupta presents all the numbers you need to know about Virat Kohli in Test cricket.
Jignesh Shah, who is fighting legal cases in the NSEL's Rs 5,600-crore scam, has resigned as the Managing Director of Financial Technologies India, a company set up by him, and will become its Chairman-Emeritus.
He also said the Forward Contracts (Regulation) Act would be amended to strengthen the regulatory framework of the commodity derivatives market.
India's corporate sector sees big ticket deals in 2013.
