On the Sensex chart, Bajaj Finance, Bajaj Finserv, HCL Tech, Tech Mahindra, Infosys, HDFC Bank and ICICI Bank were among the prominent gainers.
"I have repeatedly said I have done no wrong. A case related to this had come up before the Supreme Court last year and was heard by a bench headed by CJI T S Thakur, who had remarked that this case was made out because of political reasons," Maran, who was telecom minister between 2004 and 2007, said.
The old guard is still involved in broad corporate decision-making, but quite a few new business heads have started making their mark at the group
Revenue decline has left the operators with little money to service their mostly 3G and partly 4G infrastructure leading to poor data and voice quality.
Telecom operators Vodafone and Idea Cellular on Monday said they will resume 3G services in circles where they don't have spectrum through intra-circle roaming (ICR) pacts with other operators.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
Yes Bank was the top gainer in the Sensex pack rising 5.80 per cent, followed by Tata Motors, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Bank and Tata Steel.
The US is set for a geographically limited 5G rollout this Christmas, after a bumper $81 billion spectrum auction earlier this year. Just as the rollout date nears, the US Federal Aviation Administration (FAA) has sounded alarm bells over potentially fatal consequences of 5G interference on aircraft. Similar consequences could apply in India, where 5G spectrum auction is scheduled in January 2022, with the rollout beginning later next year (though reports suggest impending delays).
While it was technically not possible to block the deal, the tax department could resort to arm-twisting.
Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M, SBI and Bharti Airtel.
The big beneficiaries of this move will be the big three -- Bharti, Vodafone and Idea.
Whether one likes it or not, services constitute the value-addition sector that the country has to build on, using its comparative advantage in infotech and related skills, suggests T N Ninan.
A high-powered ministerial panel headed by Finance Minister P Chidambaram on Monday"tentatively resolved" all issues concerning a proposal to levy one-time fee on existing telecom operators, Communications Minister Kapil Sibal said.
ICICI Bank was the top laggard in the Sensex pack, sinking over 10 per cent, followed by Bajaj Finance, HDFC, IndusInd Bank, Axis Bank and Maruti. Bharti Airtel and Sun Pharma were the gainers in the BSE index. NSE Nifty suffered a heavy loss of 566.40 points, or 5.74 per cent, to settle at 9,293.50.
As per the initial version of the Unified Licence on August 2, DoT had exempted Internet services revenue from adjusted gross revenue -- part of telecom company's earnings on which annual licence fee is levied.
Not just mid- and small-sized firms, even big ones will either sell group companies or stakes in their listed entities to tide over crisis; more sell-offs seen in coming months.
Kotak Bank was the top laggard in the Sensex pack, shedding over 2 per cent, followed by ITC, PowerGrid, M&M, HDFC, Asian Paints and NTPC. On the other hand, Maruti rallied over 4 per cent. Bharti Airtel, Axis Bank, IndusInd Bank and Bajaj Finance were also among the gainers.
Define your North Star. Experiment in your 20s be adventurous and experiment and use these experiences to build your flywheel and compliment your IQ with EQ.
Market breadth turned negative with 1,779 declines over 884 advances on the BSE
Call drop problem to improve in 12-16 weeks in Delhi: Vodafone
Yes Bank was the top gainer in the Sensex pack, rallying 6.74 per cent, followed by TCS, Tata Motors, Bharti Airtel, M&M and RIL.
The biggest gainers in the Sensex pack in Friday's session were Yes Bank, Bharti Airtel, Tata Motors, Vedanta, SBI and Axis Bank, spurting up to 3.05 per cent. The losers included HCL Tech, TCS, Infosys, Hero MotoCorp, IndusInd Bank and Sun Pharma, falling up to 1.55 per cent.
Of late, net neutrality has generated much debate.
Bharti Airtel said net sales rose 7.9 per cent
Record equity divestment by the Reliance Group in its telecom and retail businesses garnering around $23 billion revved up the deal street in 2020, which otherwise would have gone down as one of the dullest on record, and dealmakers are seeing sunnier days in 2021 given the large scope for consolidation in a slew of sectors ravaged by the pandemic. With Jio Platforms alone garnering over $16 billion (Rs 1,18,318 crore) by selling 25.24 per cent stake and Reliance Retail notching up $6.4 billion (Rs 47,265 crore) by divesting around 9 per cent shareholding, the deal street signed off with $85 billion in the deal kitty across 1,270 transactions. This is higher by about 10 per cent over 2019. What is significant is that over a third of the total deal value came from Reliance transactions, say investment bankers.
Verdicts paving the way for construction of a Ram Temple at Ayodhya and India's multi-billion dollar Rafale fighter jet deal with France were 2019's landmark imprints of the Supreme Court, which also found itself at the centre of a controversy with then Chief Justice of India Ranjan Gogoi being accused of sexual harassment before getting the clean chit.
RIL has been talking to groups including Gionee, Huawei and Xiaomi
The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector.
There were reports of a mobile tower being impacted a few months ago in coastal area of Andhra Pradesh that was attributed to hacking by the company's engineers.
The Department of Telecom, Department of Industrial Policy and Promotion, Ministry of Home Affairs, Ministry of External Affairs and the Department of Economic Affairs had to give their comments on the proposal, sources said.
Tech Mahindra was the top loser in the Sensex pack, crashing over 9 per cent, followed by Kotak Bank, Axis Bank, TCS, Infosys and HUL. On the other hand, Hero MotoCorp, Bajaj Auto, Bajaj Finance and Titan were the gainers.
Invests $1.1 billion in 6 months, against $3.7 billion in 20 years
Telecom regulator Trai has asked operators not to present misleading advertisements of their tariff plans, while directing them to show recurring charges to consumers under single head.
The only feasible way to have a healthy banking sector could be making it mostly private, along with two or three large, better-run government banks, suggests T N Ninan.
SC raised questions over the government's decision ordering mandatory seeding of mobile numbers with Aadhaar.
Stating that the Centre's focus is on promoting the country's IT sector, he pointed out that this move follows the rising import of electronic as well as IT items, including software and hardware, which is expected to reach $292 billion by 2020.
Government's resolution on the contentious issue of spectrum usage fee seems to have found favour with telecom operators with none of them withdrawing their application from airways auction on the last day on Monday.
For some, he's a bully and probable 'blackmailer' who targeted the rich and famous, especially in Bollywood, for fame, and allegedly, ransom. For others, he's finally the one brave narc who decided to do his job, no matter how powerful his quarry, observes Shekhar Gupta.
Reliance has around 90,000 telecom towers now, half of which are operational and owned by the RIL and rest on lease.
