Textile and telecom shares have gained ahead of the Cabinet meet later today which is likely to announce new measures for both the sectors.
Investors indulged in profit booking at attractive and higher valuations
Uninor added 8.53 lakh subscribers to take its base to 4.01 crore during the reported period.
Markets ended lower for the third straight day on Tuesday weighed down by profit taking in rate sensitives with bank shares leading the decline after hopes of rate cut by the central bank faded.
Rise in crude oil price and rally in global equities aided the sentiment
The BSE Midcap and the BSE Smallcap indices pared all intraday gains to end 0.3% and 0.5% lower
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
Most of the session's gains for both the indices were wiped out as investors rushed to book profits ahead of F&O expiry on Thursday and also due to concerns over stretched valuations.
As per data, call drop situation in Delhi has improved.
The third round of spectrum auction continued to witness aggressive bidding even after completion of seventeen rounds on Wednesday with demands for both bands of airwaves on offer continuing to pour in.
Life Insurance Corporation of India has over Rs 7,000 crore in tax demand pending against it, the biggest across various categories.
Banking and telecom will see the highest impact of this transition.
The 30-share Sensex ended up 204 points at 27,215 and the 50-share Nifty ended up 59 points at 8,238.
Most public sector banks, flush with deposits now, offer 3-4% interest on savings deposits, while a few private sector banks go up to 6%.
Sensex remained volatile through the day.
Firm makes Rs 4,858-crore loss on Rs 10,799-crore income.
The broader markets were also in top gear, with the BSE midcap index surging by 2.1% at 11,431 and the smallcap index gaining 1.4% at 11,735.
Licence winners are expected to be announced by the first quarter of 2014.
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Instead of tinkering with roaming, the circle system should be ended.
Sensex ends belowe 26,800 on domestic concerns.
HDFC twins, Axis Bank, ICICI Bank and SBI from the financial space gained between 1-2.7%.
Brokerages expect revenue growth at a 7-quarter high but profitability may disappoint.
While the draft M&A policy for the telecom sector has been revised a few times over the past few months, DoT has not made any major changes to guidelines.
However, the government is readying a relief package and it could include a cut in the licence fee to 5 per cent, two years' moratorium on paying spectrum charges with interest, and referring the GST tax refund issue to the Council.
The 30-share Sensex ended up 8 points at 27,508 and the 50-share Nifty closed 1 point higher at 8,284.
The S&P BSE Sensex surged 160 points to close at 25,262.
The S&P BSE Sensex gained 57 points to end at 26,064 and the Nifty50 climbed 17 points.
Vodafone had contended in its plea that DoT instead of signing and executing the ULs had at the last moment informed them that their request for deletion of 'restrictive' clauses in licence pertaining to roaming cannot be accepted.
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices added 0.6% and 1.3%, respectively to touch their fresh lifetime highs.
Bank shares were the top gainers led by ICICI Bank.
RCom may get around Rs 4,500 crore by trading its radiowaves to Reliance Jio.
Previous peak in 2010 crossed in first five-and-a-half months this year.
From Rafale relief to heat on realtors, 10 landmark Supreme Court judgments in 2018.
The telecom industry is moving towards a five-plus one model.
Telecom stocks fell after Mukesh Ambani extended Reliance Jio's free offers till March 2017.
Sources say companies will have to keep the market share of merged entities below 50% in all circles
Cellular service provider Idea has announced a new STD (standard trunk dialing) tariff of 99 paise a minute for its customers of Delhi and national capital region for calls made to any private GSM mobiles anywhere in the country.\n\n
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