The auction of radio waves used for mobile services saw a muted opening on Tuesday, with five rounds attracting bids worth about Rs 11,000 crore from telecom companies. The government has put over 10,500 Mhz spectrum in eight frequency bands -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction.
Investors became richer by nearly Rs 8 lakh crore on Wednesday as benchmark BSE Sensex surged by 740 points amid value buying in utilities and power shares and a strong trend in global markets. The 30-share BSE Sensex surged by 740.30 points or 1.01 per cent to close at 73,730.23.
Bharti Airtel on Monday posted a 54 per cent jump in consolidated net profit to Rs 2,442.2 crore in the December quarter, mainly on account of growth in high value customers. Airtel prepaid mobile customers are required to pay at least Rs 155 for about a month-long service as the company had raised rates by 56 per cent in January 2023. Bharti Airtel managing director Gopal Vittal has indicated a need for further increase in mobile services rates.
Consolidated EBITDA came in at Rs 8,265 crore.
From the 30 Sensex firms, Mahindra & Mahindra, Infosys, Kotak Mahindra Bank, JSW Steel, Adani Ports, Tata Motors, Adani Ports, ITC and Titan were the major laggards. HDFC Bank, Bharti Airtel, Reliance Industries, Asian Paints and State Bank of India were the gainers.
Number of operators per circle falling from 11 to 8 would lead to price recovery.
After subdued earnings in the first half amid global headwinds, India Inc is taking a cautious approach on their capital expenditure (capex) for the second half of the financial year ending March 2025, according to management commentary. Minutes from the October monetary policy meeting show the Reserve Bank of India's (RBI's) optimism about private investments picking up.
RBI's interest rate decision, quarterly earnings and global cues would be the major driving factors for equity markets this week, analysts said adding that the impact of the Union Budget could linger on this week. Trading activity of foreign investors will also be a key driver for the markets, experts noted. "US and India's manufacturing PMI for January to be released on Monday, will be the key macro data to watch out for.
The loans in rupees would cover any associated transaction costs. Standard Chartered Bank, State Bank of India and Barclays are the major contributors to this debt portfolio.
During 2023-24, while the BJP received over Rs 723 crore worth of donations from Prudent Electoral Trust, it also got over Rs 127 crore from Triumph Electoral Trust and over Rs 17 lakh from Einzigartig Electoral Trust.
The income tax department has slapped a Rs 1,067-crore (Rs 10.67 billion) demand notice on telecom giant Bharti Airtel for alleged non-payment of Tax Deducted at Source (TDS) dues in the past four financial years in connection with its operations abroad.
Losing subscribers for the fourth straight month, Reliance Jio witnessed 3.76 million users leave the telecom operator in October, data from the Telecom Regulatory Authority of India (Trai) showed on Monday. Meanwhile, Bharti Airtel reversed three months of decline, and added 1.92 million users, indicating it has overcome the impact of the broad-based tariff hikes imposed by private sector telcos in July.
Among the 30-share Sensex blue-chip pack, Bharti Airtel, ITC, Kotak Mahindra Bank, Hindustan Unilever, Titan, UltraTech Cement, HCL Technologies, and Power Grid, were the biggest gainers. Tata Steel, IndusInd Bank, JSW Steel and Bajaj Finserv were the laggards.
Net flows from domestic institutional investors crossed Rs 5 trillion for the first time during a calendar year.
Continuing to push back against the stringent quality of service (QoS) norms brought in by the Telecom Regulatory Authority of India (Trai), telcos have informed the Department of Telecommunications (DoT) that collection and submission of monthly and site-to-cell-level data should be eased, officials and industry sources said. In place since October last year, the QoS norms call for data for network availability, call drop, voice packet drop rate in uplink and downlink, among other parameters, to be collected at the cell level.
Among the 30 Sensex firms, Reliance Industries declined over 1 per cent. Tata Motors, Nestle, Bharti Airtel, Bajaj Finance, Larsen & Toubro, JSW Steel and Mahindra & Mahindra were other big laggards. In contrast, Titan, ITC, Infosys, HCL Technologies, Tata Steel and State Bank of India were among the biggest gainers.
India's largest private cellular operator Bharti Airtel on Tuesday posted a net profit of Rs 1,215 crore (Rs 12.15 billion) for the quarter ending December 31 -- a whopping 123 per cent increase from last year.
Bajaj Finserv, IndusInd Bank, Adani Ports, UltraTech Cement, Bajaj Finance, Tata Consultancy Services, Infosys, Bharti Airtel, Hindustan Unilever and JSW Steel were the other big laggards.
State Bank of India, Adani Ports, Tata Consultancy Services, ICICI Bank, Reliance Industries and PowerGrid were also among the laggards.
Telecom giant Bharti Airtel on Thursday posted a lower-than-expected consolidated net income of Rs 1,400.7 crore (Rs 14 billion) for the quarter ended March 31, 2011, down 31.48 per cent vis--vis the same period last year on account of higher cash outflow for its African operations.
Bharti Airtel's net profit plunged by 41 per cent to Rs 1,303.3 crore (Rs 13.033 billion) in the third quarter of current fiscal, compared to Rs 2,194.9 crore (Rs 21.949 billion) in the same quarter a year ago.
From the 30 Sensex firms, Power Grid, ICICI Bank, Bharti Airtel, HDFC Bank, Kotak Mahindra Bank, Larsen & Toubro, Adani Ports and UltraTech Cement were among the laggards. Sun Pharma, Reliance Industries, Titan, HCL Technologies and Bajaj Finserv were among the biggest gainers.
Benchmark Sensex advanced 110 points in a choppy trade on Wednesday, extending its gains to the fourth day in a row helped by buying in HDFC Bank, ICICI Bank and fresh foreign fund inflows. The 30-share barometer rose by 110.58 points or 0.14 per cent to settle at 80,956.33 with 14 of its constituents ending with gains and 16 stocks with losses. During the day, it jumped 399.64 points or 0.49 per cent to 81,245.39 and dipped to a low of 80,630.53.
India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now. A drastic reduction in tariff protection, other elements of sarkari wet-nursing will force entrepreneurial India to become competitive again, argues Shekhar Gupta.
After continuously bleeding subscribers for nearly two years, state-owned telecom services provider BSNL added 2.9 million users in July when its private-sector rivals raised tariffs by nearly 20 per cent. With BSNL keeping tariffs unchanged, many subscribers using entry-level plans shifted from Reliance Jio, Bharti Airtel, and Vodafone Idea (Vi), said analysts.
Bharti Airtel is expected to see its highest revenue growth, and subscriber addition during the third quarter (October-December) of FY25 among telcos, said analysts. The telco's top line in Q3 may see the fastest sequential growth at 5 per cent compared to 3 per cent for Reliance Jio and Vodafone Idea (Vi). Airtel's annual mobile revenue growth would rise to 16 per cent, IIFL Capital said in an analyst note.
Reliance Jio added 34.7 lakh mobile subscribers in September, cementing its lead in the competitive telecom market, while Airtel's wireless subscriber tally rose by 13.2 lakh, according to monthly data put out by Trai. Vodafone Idea lost 7.5 lakh mobile subscribers during September, dragging its wireless user tally to 22.75 crore. Reliance Jio gained 34.75 lakh wireless subscribers in September, and its user base climbed to 44.92 crore, as per data by Telecom Regulatory Authority of India (Trai).
The mobile data revenue at Rs 2,324 cr registered a growth of 70 per cent
Bharti Airtel may end up cumulatively bidding for more spectrum than market leader Reliance Jio in the upcoming auctions. This is owing to its need for spectrum renewal, and a requirement for 900 MHz in a few circles, analysts have said. Despite the muted bidding expected in the upcoming auctions, Airtel may end up making more bids than Jio, they added.
Among the 30 Sensex firms, Bajaj Finance, Infosys, Adani Ports, JSW Steel, HCL Tech, Bharti Airtel, IndusInd Bank and Tata Motors were the biggest laggards. ICICI Bank, Bajaj Finserv, Titan, Nestle and HDFC Bank were among the gainers.
VoIP services include communications applications such as Skype, Line and Viber
Corporate India's struggle with subdued revenue and earnings growth persisted in the October-December quarter of 2024-25 (Q3FY25). The combined net sales (gross interest earnings for lenders) of listed companies grew in single digits for the seventh consecutive quarter, while their combined net profit rose by a single digit for the third straight quarter.
Nestle surged 4.25 per cent after the FMCG major reported 4.94 per cent increase in net profit at Rs 688.01 crore for the quarter ended December 31, 2024. IndusInd Bank, Titan, Tata Motors, Tata Steel, ITC and Maruti were the other major gainers. ITC Hotels, Bharti Airtel, Bajaj Finserv, Bajaj Finance and ICICI Bank were among the laggards.
Bharti Airtel Ltd, India's top telecommunications carrier, said on Friday it had bought out Qualcomm Inc's stake from a fourth-generation (4G) broadband joint venture in the country, taking full ownership of the business more than a year earlier than planned.
From the 30-share pack, Hindustan Unilever, Tata Motors, Axis Bank, Nestle India, Asian Paints, ITC, Reliance Industries, Mahindra & Mahindra, IndusInd Bank and State Bank of India were among the laggards. Larsen & Toubro, Tata Steel, JSW Steel, HDFC Bank, Adani Ports, Kotak Mahindra Bank, Bharti Airtel and PowerGrid were among the gainers.
From the 30 Sensex firms, Mahindra & Mahindra, State Bank of India, Bharti Airtel, Hindustan Unilever, Kotak Mahindra Bank, UltraTech Cement, Adani Ports, and Tata Steel were the biggest gainers. ICICI Bank, IndusInd Bank, Asian Paints, Tech Mahindra, Infosys, HCL Technologies, Tata Consultancy Services, and Larsen & Toubro were among the laggards.
Bharti Airtel and Vodafone Idea will roll out revised mobile service tariffs increasing rates in the range of 10-24 per cent from the first week of July. Bharti Airtel announced a 10-21 per cent hike in prepaid and postpaid mobile tariffs from July 3, a day after larger rival Reliance Jio announced an increase in rates. Later in the day, loss-making telecom operator Vodafone Idea (Vi) also announced its plan to raise mobile tariffs by 11-24 per cent from July 4.
Adani Ports was the biggest loser in the Sensex pack, declining 1.37 per cent, followed by ITC, Bharti Airtel, NTPC, Maruti, Asian Paints, Sun Pharma, Power Grid, Hindustan Unilever and Larsen & Toubro. In contrast, Bajaj Finserv, Bajaj Finance, IndusInd Bank, Tata Steel, Axis Bank and Tech Mahindra were among the gainers.
Equity benchmark indices Sensex and Nifty settled lower for the sixth straight session on Monday due to heavy selling in bellwether stocks including HDFC Bank and Reliance Industries amid mixed trends in the global markets and outflow of foreign funds. Falling for the sixth consecutive session, the BSE Sensex tumbled 638.45 points or 0.78 per cent to settle at 81,050. During the day, it plummeted 962.39 points or 1.17 per cent to 80,726.06. The NSE Nifty slumped 218.85 points or 0.87 per cent to end at 24,795.75.
From the 30 Sensex firms, Mahindra & Mahindra, Bajaj Finance, Asian Paints, Nestle, Bharti Airtel, UltraTech Cement, Hindustan Unilever, ITC, and HDFC Bank were the major laggards. In contrast, Infosys, Tech Mahindra, Tata Motors, Axis Bank, Tata Consultancy Services and State Bank of India were among the gainers.
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