The Central Bureau of Investigation on Saturday carried out searches at the Vodafone office in Mumbai and Airtel office in Gurgaon after registering a case against ex-Telecom Secretary Shyamal Ghosh and the two telecom service providers for alleged irregularities in spectrum allocation during tenure of Pramod Mahajan as Telecom Minister.
The country's largest private telecom company, Bharti Airtel, on Friday posted a 13 per cent rise in net profit at Rs 2,321 crore (Rs 23.21 billion) for the second quarter ended September 30, 2009.
Seventeen firms had originally applied for the licence but the figure has since come down to 12, with several big players in the mix.
Mumbai has fastest 4G speed, Ahmedabad most consistent, says wireless coverage mapping firm OpenSignal
Among the Sensex firms, HCL Technologies, Tata Motors, Hindustan Unilever, NTPC, IndusInd Bank, Bajaj Finserv, Bajaj Finance and Mahindra & Mahindra were the major gainers. Bharti Airtel, Reliance Industries, ICICI Bank and Asian Paints were the laggards.
Two days after Bharti Airtel announced the launch of its fourth-generation (4G) wireless broadband services in Kolkata, it is tough to miss the mark of the campaign in the city's key locations.
From the Sensex pack, Hindustan Unilever, Asian Paints, Bajaj Finance, Nestle, Bajaj Finserv, Reliance Industries, Larsen & Toubro, Maruti, Infosys and Bharti Airtel were the major laggards.
In the Sensex pack, Mahindra & Mahindra, Tata Steel, Tata Motors, Maruti, Larsen & Toubro, HDFC, HDFC Bank, Tech Mahindra and Bharti Airtel were the major laggards. Asian Paints, Bajaj Finserv, Power Grid, Reliance Industries, NTPC and UltraTech Cement were among the gainers.
Spectrum auction on Thursday entered the 10th day of bidding and started off from Rs 61,091.83 crore (Rs 610.91 billion) in terms of value.
The users of 5G-enabled Apple iPhones will be able to try 5G telecom services - wherever available publicly in the country - from next week, both on standalone (Reliance Jio) and non-standalone networks (Bharti Airtel). Airtel and Jio customers who download the iOS 16 Beta software update as part of its 'Apple Beta Software Program' can try the service and send their feedback to the company. The final updated software will become available sometime in December.
The number of mobile phone subscribers in India decreased by 3.66 million in September to 1.17 billion, representing the first fall in seven months, according to the latest data released by the Telecom Regulatory Authority of India (Trai). The number of subscribers had last fallen by 3.7 million back in February. In recent months, it rose by 1.08 million in August, 0.64 million in July, and 1.89 million in June.
Sector experts have, however, indicated that a large part of the airwaves in the upcoming auction will remain unsold.
Equity benchmark indices ended lower on Thursday in line with weak global market trends. The 30-share BSE Sensex declined 230.12 points or 0.37 per cent to settle at 61,750.60. During the day, it fell 337.45 points or 0.54 per cent to 61,643.27.
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.
Kotak Mahindra Bank was the biggest loser from the Sensex pack, skidding 1.83 per cent, followed by Axis Bank, NTPC, Hindustan Unilever, ICICI Bank, Bharti Airtel, Reliance Industries, HCL Technologies, IndusInd Bank and Nestle. In contrast, Bajaj Finance, Bajaj Finserv, Tech Mahindra, Tata Consultancy Services, Titan, Infosys, HDFC Bank, HDFC and ITC were the gainers.
ITC was the biggest gainer in the Sensex pack, rising nearly 3 per cent, followed by Kotak Mahindra Bank, ICICI Bank, Maruti, Bharti Airtel, State Bank of India, Sun Pharmaceutical Industries, Axis Bank, Reliance Industries, Hindustan Unilever and JSW Steel. On the other hand, Infosys, UltraTech Cement, HCL Technologies, Bajaj Finserv, Larsen & Toubro, Titan, Tata Consultancy Services and Wipro were the laggards.
India's leading private sector telecom services provider, Bharti Airtel on Friday reported a whopping 98 per cent net profit at Rs 1,353 crore (Rs 13.53 billion) for the fourth quarter ended March 31, compared to the same period last year.
From the Sensex firms, Bajaj Finance, HDFC, HDFC Bank, Bajaj Finserv, Asian Paint, State Bank of India, Tata Consultancy Services, Bharti Airtel, Reliance Industries and Tata Steel were the biggest gainers. HDFC climbed 2.59 per cent after the housing finance major on Thursday reported a 20 per cent growth in standalone net profit to Rs 4,425 crore for the quarter ending March 2023 on the back of higher interest income. IndusInd Bank, Nestle, Power Grid, ITC, Tata Motors and Mahindra & Mahindra were the major laggards.
Benchmark stock indices Sensex and Nifty closed with losses in a choppy trade on Thursday as investors preferred a cautious approach ahead of inflation and industrial production data to be released later in the day. Unabated foreign fund outflows also hit the investor sentiment. The 30-share BSE Sensex declined by 147.47 points or 0.25 per cent to settle at 59,958.03.
Telecom major Bharti Airtel on Wednesday reduced roaming tariffs by up to 56 per cent and also scrapped the rental for roaming services as per the telecom regulator TRAI's guidelines issued last month.
Equity benchmarks bounced back to end in the positive territory after trading lower for most part of the session on Thursday. The 30-share BSE Sensex climbed 223.60 points or 0.37 per cent to settle at 61,133.88. During the day, it had declined 431.22 points or 0.70 per cent to 60,479.06.
Reliance Jio's decision to acquire 700 MHz in combination with the possible use of an advanced standalone (SA) 5G network could give it an edge over its rivals, according to most analysts. The dissenters argue that the stiff price tag touching Rs 40,000 crore to grab 10 MHz of spectrum in 700 to provide coverage for its SA 5G network which offers ultra-low latency (unlike non-standalone or NSA), has a long way to go in India in terms of finding use cases that can be monetised. Globally, 700 MHz is a pivotal band which provides huge coverage, indoor penetration (especially useful in India where walls are thick) and is already considered by the European Union to be the 'pioneer band' for 5G, with 3.5 GHz and 26 GHz, both of which were auctioned in India recently.
Domestic stock markets would be driven by inflation numbers, global trends, and the last batch of Q4 earnings this week, analysts said. Markets will also react to industrial production data and consumer inflation numbers that were released after market hours on Friday. "Participants will react to macroeconomic data viz. IIP and CPI first, which were released post-market hours on Friday.
The government has proposed a penalty of over Rs 41 crore (Rs 410 million) on Tatas, Rs 31 crore (Rs 310 million) on Airtel and Rs 19.65 crore (Rs 196.5 million) on RCom and others, totalling Rs 135.60 crore (Rs 1.35 billion), for not rolling out network on time
Over half, or 269 NSE 500 stocks, have given over 10-fold (10x) returns in the last two decades, finds a recent report by Goldman Sachs that analysed 10 major markets across emerging and developed markets (EM/DM) that covered 6,700 stocks. The report examined '10-baggers' - stocks that have generated at least 10x total returns within a rolling 5-year period over the past two decades. Some of the prominent ones that comprise these 269 stocks in the Indian context stocks that delivered over 10x total returns over a 5-year rolling period since 2000 as per Goldman Sachs includes Westlife Foodworld, Bharti Airtel, Adani Total Gas, Patanjali Foods, Larsen & Toubro, BEML, Blue Star, Shree Cement, Lupin, Godrej Industries, Astral, Adani Enterprises, Hindustan Petroleum and Deepak Fertilisers.
Equity benchmarks ended higher on Wednesday amid buying in banking counters and a firm trend in global markets. Continuing its previous day rally, the 30-share BSE Sensex climbed 91.62 points or 0.15 per cent to settle at 61,510.58. During the day, it jumped 361.94 points or 0.58 per cent to 61,780.90. The broader NSE Nifty gained 23.05 points or 0.13 per cent to end at 18,267.25.
Market benchmarks fell for third day running on Monday and ended nearly 1 per cent lower amid weak trend in global equities. The 30-share BSE Sensex declined 518.64 points or 0.84 per cent to settle at 61,144.84. During the day, it tumbled 604.15 points or 0.97 per cent to 61,059.33.
Equity benchmark Sensex gained 37 points on Thursday, tracking gains in index majors Kotak Bank, L&T and Bharti Airtel amid a largely negative trend in global markets. After a largely choppy session, the 30-share BSE index ended 37.87 points or 0.06 per cent higher at 60,298 after starting the trade on a weak note. During the day, it hit a high of 60,341.41 and a low of 59,946.44.
Rising for the second straight session, equity benchmark Sensex climbed 142 points on Thursday following buying in IT and finance stocks amid a higher opening in European markets. After a see-saw session, the 30-share BSE Sensex ended 142.43 points or 0.23 per cent higher at 60,806.22. During the day, the index witnessed a high of 60,863.63 and a low of 60,472.81.
Benchmark indices ended the day in the negative territory on Tuesday amid weak global market trends and rising crude prices. Falling for the third day running, the 30-share BSE benchmark ended 208.24 points or 0.33 per cent lower at 62,626.36. During the day, it tumbled 444.53 points or 0.70 per cent to 62,390.07.
The Department of Telecommunications (DoT) has asked Vodafone Idea (Vi) to come back to it with a business plan soon in light of its decision not to launch 5G services for now (unlike its competitors Reliance Jio and Bharti Airtel) and in view of its assessment of the possible impact of BSNL's impending launch of 4G in a few months and then 5G by August 15. "We are worried about Vi as we want to have three private players and one government player in the market. "The global trend now is to have two to three players.
Eight of the 10 most valued companies suffered a combined erosion of Rs 2,48,372.97 crore in their market valuation last week in line with a weak broader market trend, with Reliance Industries taking the biggest hit. Last week, Sensex lost 2,041.96 points or 3.72 per cent. While Reliance Industries, Tata Consultancy Services, HDFC Bank, Infosys, ICICI Bank, State Bank of India, HDFC and Bharti Airtel were the laggards, Hindustan Unilever Limited and Kotak Mahindra Bank emerged as gainers.
Equity benchmarks recovered most of their intra-day losses and ended marginally lower on Tuesday amid buying in index majors Reliance Industries and Tata Consultancy Services. Helped by last minute buying activity in some of the index heavyweights, the 30-share BSE benchmark Sensex managed to trim most of its early declines and ended lower by 103.90 points or 0.17 per cent at 61,702.29. During the day, it had tumbled 703.51 points or 1.13 per cent to 61,102.68.
Equity benchmark indices ended on a flat note on Monday, with the BSE Sensex falling nearly 34 points, recording its second day of decline after an eight-day rally. In a volatile trade, the 30-share BSE benchmark dipped 33.9 points or 0.05 per cent to settle at 62,834.60. During the day, it fell 360.62 points or 0.57 per cent to 62,507.88.
Vodafone Idea Ltd (VIL) CEO Ravinder Takkar did some plain speaking. In an analyst call after its quarterly results recently, Takkar said that the main stumbling block to raising fresh capital from investors is "pricing" - telecom tariffs, in other words. Nine months ago, the telecom company's board had cleared a proposal for raising Rs 25,000 crore from investors, after the promoters made it clear that they were not ready to pump in more money. But potential investors are concerned that without clarity on tariff hikes (there have been none for more than 18 months) they might just lose their money. The lack of visibility on raising tariffs has also impelled VIL to request the Department of Telecom (DoT) for a fresh reprieve by extending the two-year moratorium on paying its spectrum instalment of Rs 8,200 crore for another year till FY23.
Sunil Mittal-promoted Bharti Airtel on Wednesday said it has reported a 20.85 per cent increase in net profit at Rs 2,239.30 crore (Rs 22.39 billion) for the fourth quarter ended March 31, 2009.
Benchmark indices Sensex and Nifty closed down by half a per cent on Friday following losses in IT and banking shares amid overall weak global market trends. The BSE Sensex declined 316.94 points or 0.52 per cent to settle at 61,002.57. During the day, it fell 508.84 points or 0.82 per cent to 60,810.67.
Cash-strapped telco Vodafone Idea's proposal for investment of up to Rs 15,000 crore through foreign direct investment (FDI) has been approved by the Union government, according to officials. A top-level group, comprising representatives from the ministries of home affairs, external affairs, finance and commerce and industry, took the decision. The nod, which is an enabling provision, would help the financially-stressed company raise funds to pay up some of its dues linked to adjusted gross revenue (AGR), reduce debts and use the money for operational expenses.
State Bank of India was the biggest loser in the Sensex pack, shedding 1.69 per cent, followed by Asian Paints, Kotak Mahindra Bank, HCL Technologies, Reliance Industries, Wipro, IndusInd Bank, Infosys, Power Grid and HDFC twins. In contrast, Nestle, Maruti, Bharti Airtel, Tata Motors, ITC and Hindustan Unilever were among the gainers.
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