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.
The two independent brands Vodafone and Idea will be phased out, and the legacy of the two companies will reflect in the common brand -- Vi.
People familiar with the proceedings said independent cybersecurity experts from a private consulting firm, technology lawyers, government officials and WhatsApp representatives were asked questions about the Pegasus spyware and the larger issues surrounding surveillance, hacking and remedial measures.
Tier-II and tier-III towns have a reason to rejoice.
The ones who came more recently were clutching the green cards that gave them an escape hatch through which to return to green pastures: Arvind Panagariya, Raghuram Rajan, Arvind Subramanian and other perfectly honourable gentlemen like them, points out T N Ninan.
Among the lot, Rallis India, Escorts, Jubilant Life Sciences, and Crisil added half of the total gains made in the ace stock-picker's portfolio.
On the Sensex chart, Bajaj Finance, Bajaj Finserv, HCL Tech, Tech Mahindra, Infosys, HDFC Bank and ICICI Bank were among the prominent gainers.
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.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
While it was technically not possible to block the deal, the tax department could resort to arm-twisting.
The big beneficiaries of this move will be the big three -- Bharti, Vodafone and Idea.
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.
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.
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.
Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M, SBI and Bharti Airtel.
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.
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
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.
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).
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.
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.
Of late, net neutrality has generated much debate.
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.
Bharti Airtel said net sales rose 7.9 per cent
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.
RIL has been talking to groups including Gionee, Huawei and Xiaomi
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.
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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.
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.
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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.
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.
SC raised questions over the government's decision ordering mandatory seeding of mobile numbers with Aadhaar.
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.
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.
On Monday, Ambani had said the Reliance group was open to join hands with Bharti Airtel for improving telecom network for 4G services in Punjab.
