Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI's interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts. The trading activity of foreign investors and the movement of global oil benchmark Brent crude would also dictate trends in equities. "On the domestic front, the MPC (Monetary Policy Committee) meeting is scheduled from February 6-8.
The country's largest telecom player Bharti Airtel sees 3G as a major growth propeller and says the journey of 3G to 4G and to LTE (long-term evolution) would take place much faster in India.
The company said in a statement on Monday 'it has retired equivalent debt from the proceeds (Rs 6,796 crore) of the preferential allotment in June 2013 of 5 per cent equity shares in Bharti Airtel at the rate of Rs 340 per share to Qatar Foundation Endowment'.
Airtel African customers already avail this facility across the company's mobile network in 17 African countries, not having to pay roaming charges on incoming calls while travelling across these countries.
In India, there are 22 services area, or circles, for 2G telecom services and both the companies operate in all the circles.
Nokia Life services, where the information is customised and designed to meet customer needs in areas such as education, agriculture, healthcare, livelihood and even spirituality, are delivered as SMS messages to the consumers.
Indian Telecom giant Bharti Airtel is looking to establish itself as a major player in the Island nation's mobile telephony space as it prepares to launch its $200 million operation in Colombo early next year. Mobile penetration in Sri Lanka is pegged at around 30 per cent, with approximately 2 million mobile users being added each year.
Equity benchmark indices Sensex and Nifty hit their fresh record levels on Thursday after lower inflation numbers raised hopes of an interest rate cut by the RBI. Besides, heavy buying in capital goods, consumer durable and industrial stocks also helped the indices, traders said. Retail inflation continued its downward slide to reach a one-year low of 4.75 per cent in May due to a marginal decline of prices in the food basket and remained within the Reserve Bank's comfort zone of below 6 per cent, according to government data released on Wednesday.
The company, which on March 11 raised $1 billion through a 10-year bond issue, raised $500 million through senior notes.
The Department of Telecommunications has suggested forfeiture of the performance bank guarantee given by Hutchison-Essar and imposed a penalty of Rs 50 crore
This move gives Airtel and Chinese major immense benefits.
Singapore based telecom firm SingTel, which holds over 30 per cent stake in Bharti Airtel, on Wednesday said it has full faith in the company's corporate governance standards under the leadership of company's chairman Sunil Bharti Mittal.
The awards, presented by the online community Outsourcing Centre, are given for the world's best outsourcing arrangements.
Average data usage on Airtel India network grew about three fold to 2611 megabyte (about 2.5 GB) per customer from 904 MB on YoY basis. But the average revenue from the data services per customer declined by 22.7 per cent during the period.
Bharti Airtel (Singapore) Pte Ltd, a subsidiary of Bharti Airtel, said on Monday it has been awarded the facility-based operator licence in Singapore, which will enable it to operate international carrier facilities from there.
The Supreme Court on Friday dismissed the applications filed by telecom majors, including Vodafone Idea and Bharti Airtel, seeking rectification of the alleged errors in calculation of Adjusted Gross Revenue (AGR) related dues payable by them. "All the miscellaneous applications are dismissed," a bench headed by Justice L Nageswara Rao said while pronouncing the order. The telecom companies had submitted before the apex court that arithmetical errors in the calculation be rectified and there are cases of duplication of entries.
Under another plan, it will offer unlimited voice calling along with 100 SMS per day, 5GB 3G/4G data and free subscription to Wynk Music and Wynk Movies for Rs 1,599
Bharti Airtel has sought quashing of the government's September 28 decision directing the service providers to stop providing intra-circle roaming services.
From the Sensex basket, NTPC, Power Grid, IndusInd Bank, Tata Steel, Tata Motors, JSW Steel, Tech Mahindra and Larsen & Toubro were the biggest gainers. Bharti Airtel, Maruti, ICICI Bank and Asian Paints were the laggards.
Airtel announced complete acquisition of WBSPL in October last year for an estimated Rs 2,000 crore (Rs 20 billion).
The company claimed it has also become the tenth telecom operator in the world to have more than 40 million subscribers in a single country, Bharti Airtel said in a statement in New Delhi on Wednesday.
Bharti Airtel, India's largest private cellular operator, on Thursday announced an investment of over $2 billion (Rs 9,000 crore) in 2007-08 to expand network.
Among the Sensex firms, Power Grid, IndusInd Bank, Maruti, Wipro, Tata Steel, JSW Steel, Asian Paints, Mahindra & Mahindra, Reliance Industries and UltraTech Cement were the biggest laggards. Hindustan Unilever, Infosys and Tata Consultancy Services and Bharti Airtel were the gainers.
The revenue, which will come through the billing of recharge vouchers, will be shared in the ratio of 75 : 25 by Airtel and MSRTC respectively.
The Supreme Court on Friday issued notices to Bharti Airtel and Vodafone on a BSNL petition, seeking that the private telecom operators pay interconnection charges, along with penalty, for transferring to its network their calls that did not identify phone numbers.
'India's top companies currently lack the organisational wherewithal to hire and train 2 million interns annually, given their current scale of operations and existing employee base.'
Telecom operators Vodafone and Idea Cellular on Monday said they will resume 3G services in circles where they don't have spectrum through intra-circle roaming (ICR) pacts with other operators.
IT and interest rate-sensitive bank, realty, and auto stocks ended with sharp gains.
From the Sensex basket, Bajaj Finance, Mahindra & Mahindra, HDFC Bank, JSW Steel, Maruti, Wipro, Bharti Airtel, Bajaj Finserv, ICICI Bank and ITC were the major gainers. Nestle India, HCL Technologies, Larsen & Toubro, Tata Consultancy Services, Tata Motors and Infosys were among the laggards.
The DoT report is expected by the end of the month.
Airtel Digital TV, the DTH arm of Bharti Airtel, is launching its High Definition service, with set top boxes (STBs) priced at Rs 2,840, further fuelling the price war in the sector.
The operator was directed to pay the spectrum charges based on the combined GSM and CDMA spectrum allocated, which otherwise were to be charged separately, it argued.
Among the Sensex firms, NTPC, Power Grid, Reliance Industries, Bajaj Finserv, Axis Bank, Tech Mahindra, ICICI Bank, Bharti Airtel and IndusInd Bank were the biggest gainers. JSW Steel, Mahindra & Mahindra, Tata Steel, UltraTech Cement, Infosys and Titan were among the laggards.
Anant Arora, CEO Bharti Airtel, Gujarat, and India and England captains M S Dhoni and Alastair Cook unveil the trophy for the Airtel India-England Test series.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
It would not produce any content, but market and cater to an array of users like animation and gaming firms, news channels, cinemas and banking institutions.
Telecom market leader Bharti Airtel on Thursday said the industry will need to raise tariffs as margins of operators are getting hurt at the current rate but ruleditself out to be the first to take the step.
Qualcomm launched its new affordable, India-designed chipset, the Snapdragon 4s Gen 2, on Tuesday. This chipset will enable mobile device makers to sell 5G smartphones operating on a standalone (SA) network for Rs 8,300 or less.
The market capitalisation of listed companies on the NSE surpassed $5 trillion (Rs 416.57 trillion) on Thursday on a day when the Nifty 50 index touched an all-time high of 22,993.60. The Nifty 500 index also touched an all-time high of 21,505.25 on Thursday indicating that growth in the equity market is not restricted to only the large capitalised stocks, a statement by NSE said.
Bharti Airtel on Monday announced a tie-up with US-based Apple Inc to bring the popular GSM-based iPhone in the country.
