In the Sensex pack, Vedanta rallied 3.20 per cent, followed by Tata Steel, M&M, Tata Motors, ONGC, Hindustan Unilever, Maruti, Hero MotoCorp, HDFC, Bajaj Finance, SBI, HDFC Bank, HCL Tech, Coal India, Sun Pharma, Infosys, Reliance and Bharti Airtel, rising up to 2.69 per cent.
Just a few weeks ago, Communications Minister Ashwini Vaishnaw did some tough talking with the senior managers of Bharat Sanchar Nigam Ltd, the ailing state-owned telecom service provider. The message was clear: They had to perform, quit by taking the voluntary retirement package or be compulsorily retired from service. The terse message from an otherwise polite and soft-spoken minister came just days after he announced a second and bigger package of Rs 1.64 trillion as part of a four-year turnaround plan for BSNL.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The BSE market breadth was positive. Out of 3,004 stocks traded, 1,605 advanced while 1,277 declined.
The government is contemplating slapping penalty on four foreign telcos, including AT&T, MCI and BT, for allegedly circumventing licence norms that may have caused revenue loss to the government.
The depreciation in the yuan has led to a decline in all emerging market currencies
It goes without saying that the best performers are in the private sector, says TN Ninan.
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