DoT committee rejects most Trai suggestions for freeing airwaves for sale.
A new board has been constituted for the merged entity 'Vodafone Idea Ltd' with 12 directors (including six independent directors) and Kumar Mangalam Birla as its Chairman. The board has appointed Balesh Sharma as the CEO, the companies said in a joint statement. The combination will have an all-India revenue market share of 32.2 per cent and take the numero uno slot in nine telecom circles, it said adding that both Vodafone and Idea brands will continue.
Telecom regulator Trai on Monday recommended about 39 per cent reduction in the reserve or floor price for the sale of spectrum for mobile services, including the latest 5G offering, as it looked to match revenue expectations with the industry's paying capacity. With large swathes of spectrum remaining unsold in the last two auctions, the Telecom Regulatory Authority of India (Trai) recommended to the government for selling airwaves in all existing bands of 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz and new slots of 600 MHz, 3300-3670 MHz and 24.25-28.5 GHz. It has suggested a lower reserve price for all bands, compared to the prices proposed in the previous recommendations in 2018.
'In the next five years both online and TV viewership will grow and complement each other.'
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Sun Pharma was the biggest loser among Sensex components, plunging 3.94 per cent, followed by Tata Steel falling 3.12 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
India's first auction of spectrum in five years attracted Rs 77,146 crore of bids on the opening day on Monday with Reliance Jio, Bharti Airtel, and Vodafone Idea participating in the bidding process - a response that the government said was better than expected. There were, however, no takers for spectrum in 700 MHz and 2500 MHz bands on the first day, and the auctions will continue and conclude on Tuesday. About 2,308.80 MHz of spectrum, that carry telecom signals, in seven bands worth nearly Rs 4 lakh crore at the reserve or start price, was offered for bidding in the auction that began on Monday. Communications Minister Ravi Shankar Prasad said Rs 77,146 crore worth of spectrum was bid on the first day but there were no takers for the airwaves in the premium 700 MHz as also 2500 MHz bands.
Both benchmark indices were driven by strong gains in IT, teck, oil and gas, pharma and banking shares amid earnings optimism.
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
Maruti Suzuki, Asian Paints, L&T, ONGC and Infosys have gained between 1%-1.5%.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Auto stocks led the rally with Tata Motors, Hero MotoCorp and Maruti Suzuki leading the gains.
The NSE Nifty after shuttling between 10,397.60 and 10,279.35 points, ended 47 points, or 0.45 per cent lower at 10,301.05.
Companies are playing the price game to woo customers.
A large team led by Kumar Mangalam Birla has taken charge of the integration process.
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
Availability of Wi-Fi is also expected to provide local airlines an additional source of revenues amid stiff competition in the fast growing Indian aviation market.
The freebies are now over, but Jio will need to notch up subscriber numbers and margins to prove its sceptics wrong.
The broader NSE Nifty moved between 10,705 and 10,785.55, before ending 25.15 points, or 0.23 per cent down at 10,716.55.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
Taking advantage of the RBI's different accounting year, the Centre had started demanding an interim dividend till the time the latter's final balance sheet is prepared (usually in August). To address this anomaly, an expert committee led by former RBI governor Bimal Jalan had recommended aligning the RBI's financial year with that of the government.
The Sensex ended 229 points down at 27,602 and the Nifty ended down 63 points at 8,293.
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
The 50-issue Nifty fell 29.60 points or 0.34 per cent to close at 8,642.55
The Nifty50 slipped 33 points to close the session at 8,509 after hitting an intra-day high of 8,587.
A declining rupee, elevated crude oil prices and sustained foreign fund outflows added to the gloom
The BSE Sensex moved up 103 points to 35,319.35, while the wider NSE Nifty finished at 10,741.70, up 23.90 points.
In August, RBI allowed 11 business houses to start a payments bank.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
At the heart of one of the biggest transformations in India's corporate history lies a plan to offer super-fast broadband services.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The 30-share Sensex ended down by 59 points at 27,027 and the 50-share Nifty slipped 7 points at 8,087.
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