Bharti Airtel's fund raising is expected to strengthen its competitive positioning in the market and provide the telco with the necessary ammunition for aggressive 5G rollout, analysts said. The capital raising announcement, though unexpected and surprising, would enable Airtel to enhance its market share and provides it wherewithal to make faster investment in a scenario India moves to a two-player market earlier than expected, some analysts felt. Bharti Airtel's board on Sunday approved raising up to Rs 21,000 crore by way of rights issue at a price of Rs 535 per share.
El Nino is often associated with below average warmer, dry weather across Asia Pacific region.
India's exports rose marginally to $27.15 billion in December 2020, while imports surged 7.56 per cent to $42.59 billion, official data showed on Friday. The merchandise exports were valued at $27.11 billion in December 2019 while imports had totalled $39.59 billion.
Southwest monsoon hit Kerala on Friday marking the start of the rainy season, four days after its normal onset date.
Six consecutive profitable quarters after an equal number of losses - for Bharti Airtel, the turnaround has been quick. But it is not a result of higher tariffs or absence of exceptional items alone. Execution and strategy are playing a part, too. Bharti Airtel's chief executive officer Gopal Vittal summed it up in a post-result conference call last month. "We track the profit in each of our 237,500 (cell) sites.
While initially, the claim amount was high, it has now moderated with many states prescribing a standard treatment rate for Covid-19. Of the total claims received, nearly 66,000 claims amounting to Rs 628.95 crore have been settled so far.
After recording positive growth in September, India's exports declined 5.4 per cent to $24.82 billion in October on account of dip in shipments of petroleum products, gems and jewellery, leather, and engineering goods. Trade deficit in October narrowed to $8.78 billion as against $11.76 billion, as imports also fell 11.56 per cent to $33.6 billion during the month under review.
Going by the current market cap of Rs 83,451.15 crore, 7.33 per cent stake in BPCL is expected to be valued around Rs 6,117 crore.
Here's a recap of moments captured in India in the last week.
Catch up on all the big news of the week gone by, in images.
Kerala Tourism has drawn up God's Own Country 2.0 and the department is going all out to repair the state's image and infrastructure. Apart from being a damage control exercise, it is also an opportunity to reimagine the state as a tourism brand.
Be careful what you use your office computer for.
With a 40-year-old man succumbing to injuries at a hospital in Thiruvananthapuram on Thursday, the toll in the temple firework tragedy in Kollam rose to 114.
The fishermen along with their two mechanised boats had been taken to Kankesanthurai Port in northern Sri Lanka.
All that happened in India in the past week, in photos.
Conflicting versions are emerging on permission being granted for conduct of fireworks display at the 100-year-old Puttingal Devi temple complex where at least 102 lives were lost in a major fire on Sunday.
India's second-largest telecom operator Bharti Airtel on Tuesday posted more than twofold year-on-year jump in its consolidated net profit for the March quarter to Rs 2,008 crore, buoyed by a lift in average revenue per user and an exceptional gain. The telco said its Q4 scorecard was backed by strong performance delivery across the portfolio and its CEO Gopal Vittal, in a statement, exuded optimism about opportunities in the coming years and Airtel being "well-poised" as a company. Airtel, which competes in the market with Reliance Jio and Vodafone Idea, as well as state-owned BSNL/MTNL, promised to maintain razor sharp focus on financial flexibility, optimising the capital structure and finance cost.
'If many start-ups lose in this environment, there will be less number of people willing to start new businesses.'
Remind yourself that if you follow the rules and take care, you will be safe, says Dr Vivek Chandel.
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Thursday said it has no intention to sell a part of its stake in Petronet LNG Ltd and Indraprastha Gas Ltd (IGL) to help its new owner avoid making an open offer for the two gas companies. BPCL holds 12.5 per cent of the shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions.
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
Trade deficit during the month narrowed to $17.4 billion as against $12.72 billion in the same month last year
The Supreme Court on Tuesday granted 10-year time to telecom firms like Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the Adjusted Gross Revenue (AGR)-related dues to the department of telecommunications with certain conditions.
Cinemas, stadiums, town squares and other public gathering places are devoid of people as the coronavirus spreads to at least 118 countries around the world. As of Thursday, the Johns Hopkins University tracker says 1,26,258 people have contracted the disease and 4,638 have died across the globe. The vast majority of the victims have been in China but the country said on Thursday that it had only 15 new cases. The outbreak also claimed its most high-profile victim so far when Hollywood star Tom Hanks announced he and his wife, Rita Wilson, had tested positive. The couple, who are in Australia where Hanks is making a film about Elvis, said they had felt "a bit tired, like we had colds" before being "found to be positive" Take a look.
Twelve of the 36 meteorological subdivisions recorded deficient rainfall, while the rest witnessed normal to excess rain. In total, 38 per cent of the 662 districts received below-normal rain.
The business would also not be allowed to claim any un-availed input tax credit for "goods lost" or "destroyed".
More than 50 startups have graduated from Startup Village's Physical and Virtual Incubation Programme and eight startups from Digital Incubation
801 cases have been registered in connection with violent protests which were witnessed during the dawn-to-dusk hartal called by pro-Hindu outfits on Thursday, police said, adding that 717 people are now in preventive custody.
Here's how Ganesh Pillai got his card back from the ATM machine.
Maharashtra is the worst affected state with 56,948 cases.
While the Union Cabinet had in November last year approved the sale of the government's entire 52.98 per cent stake in BPCL, offers seeking expression of interest (EoI), or bids showing interest in buying its stake, were invited only on March 7. The EoI submission deadline was May 2, but on March 31 it was extended up to June 13. On Wednesday, the government said this deadline is further being extended up to July 31.
'Sukh Pal Singh is not very rich where money is concerned, but his heart is rich.'
Hadiya said she had no contact with her husband for the last few months as she did not have a mobile phone and the only people she spoke to were her parents.
India's second-largest telecom firm Bharti Airtel on Tuesday reported a net profit of Rs 1,134 crore for the September 2021 quarter, and said it is witnessing strong business momentum with growth in 4G customers and increase in mobile ARPU. This is against a loss (attributable to owners of the parent) of 763.2 crore during the year-ago quarter, the company said in a statement. Its consolidated revenues for the second quarter of FY21 stood at Rs 28,326.4 crore, up 18.8 per cent year-on-year (on a comparable basis) and 13 per cent y-o-y on a reported basis, it added.
Nearly 20 lakh jobs will be up for grabs for those having skill such as IoT, mobility solutions, telecom infrastructure, network architectures, sales among others.
Giving major relief to budding entrepreneurs, the government on Thursday allowed startups to avail tax concession only if total investment including funding from angel investors does not exceed Rs 10 crore.
The company has made payment in compliance with Telecom Department's instructions for self assessment, Mittal said, adding that the Supreme Court had not mentioned specific amounts.
She was hit on her head by her mother-in-law. She is reportedly stable and has been referred for further tests in the hospital.
Temple priest performed a 'purification' ritual for an hour before the doors were opened again.
The cyclone on Tuesday passed the Mumbai coast and much to the relief of the people in Maharashtra's capital, just brought rains and there was no loss of life or damage to property
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