India's second largest IT services company Infosys on Thursday reported a 3.1 per cent year-on-year rise in net profit to Rs 6,215 crore for the September 2023 quarter. The earnings (before minority interest) of the Bengaluru-based company stood at Rs 6,026 crore in the year-ago period. The company - which competes in the IT services market with TCS, Wipro, HCL Technologies and others - saw its revenue rising 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.
Meet the CEOs for South Africa's MTN and India's Bharti Airtel. They're the men behind what would be India Inc's largest-ever overseas transaction, at $23 billion.
'We suggest an equity strategy of 5% to 10% exposure to cash, 5% to Gold ETF, close to 50% to Sensex/Nifty/large mid-cap stocks.'
They should keep themselves out of the race for the time being and wait for a better time, suggests a recent report by research firm Strategy Analytics. Foreign operators like AT&T, Deutsche Telecom, NTT Docomo and others who have been eyeing the domestic market for a long time now finally got a chance to enter world's fastest growing telecom market but looking at the current 3G auction policy, it is advisable for them not to participate in the race, it said.
IT, telecom market in Asia-Pacific region to grow 11% in 2003: IDC
Trinamool Congress leader Mahua Moitra was expelled on Friday from the Lok Sabha after the House adopted the report of its Ethics Committee that held her guilty of accepting gifts and illegal gratification from a businessman to further his interest.
Chinese equipment contracts had been given by many public sector undertakings and government companies for their networks, even in sensitive places such as the north east.
It is the most potent symbol of India's soft power -- more perhaps than the IT industry and our managerial skill, notes Vanita Kohli-Khandekar
The government is considering withdrawing legal cases against telecom companies, involving disputes of about Rs 40,000 crore, a source said on Tuesday. In line with this, the Department of Telecom has already filed an affidavit before the Supreme Court in a case against Anil Ambani-promoted Reliance Communications to take an informed decision whether to proceed with the present appeal or not, the source said. DoT has said the telecom sector is passing through a financial stress due to various circumstances and telecom services providers are making losses.
If Indian storytelling can deliver, it can make the entertainment industry an engine of economic growth and a substantial contributor to GDP, says Vanita Kohli-Khandekar.
The company claimed it has also become the tenth telecom operator in the world to have more than 40 million subscribers in a single country, Bharti Airtel said in a statement in New Delhi on Wednesday.
At market close, the oil-to-telecom conglomerate's market capitalisation (m-cap) zoomed to Rs 10,01,555.42 crore on BSE.
The government on Friday said guidelines for 3G services will be issued next month and foreign players will be allowed to offer this service in the country whether they come through open auction route or via the existing law, which allows 74 per cent FDI in telecom companies.
The United States has accused Tata group company VSNL (Videsh Sanchar Nigam Ltd) of impeding competition for American companies in the bandwidth market by resorting to unacceptable pricing mechanism.
Job postings declined on an annual basis in September but witnessed a marginal uptick compared to August this year, a report said on Tuesday. There was a fall in job postings in various sectors, including media and entertainment, home appliances, shipping and marine, IT and BPO/ITES compared to September 2021. For September 2022, the Monster Employment Index (MEI) showed that there was a 4 per cent decline in hiring activities on an annual basis but a 1 per cent rise on a month-on-month basis.
Earlier, RBI had allowed domestic entities to invest in overseas unincorporated entities in the oil sector, up to 400 per cent of the net worth of the Indian company, under the automatic route.
Gautam Adani's alleged proximity to Narendra Modi may dent the latter's self-styled image of incorruptibility, points out Kanika Datta.
Anil Ambani-led Reliance Communications on Monday announced the launch of Braille Bill service for providing postpaid bills to the visually impaired.
The move will help curb the attrition rate in the company, Huawei that employs over 6,000 people in India said.
"Look at the policies of world around, we are far less protectionist than any other country in the world. There is no question of India becoming protectionist," Indian Telecom Minister Kapil Sibal said here on Monday.
Suicide car bombers today attacked the offices of a Nigerian subsidiary of Indian telecom major Bharti Airtel in the volatile city of Kano besides that of South African firm MTN, killing at least four.
Strong macroeconomic headwinds causing turbulence in the $245-billion Indian IT industry are yet to calm down. Top Indian IT services companies are likely to post a decline or just marginal growth in sequential revenue in Q1FY24 because of a soft discretionary spending environment. Though the first quarter is seasonally strong for IT firms, "June 2023 will be an exception", according to analysts at Kotak Institutional Equities.
Russia pressed for "proper treatment" of its companies operating in India, voicing concern over problems faced by its Sistema company which invested about USD three billion in Indian telecom sector but lost its licence under the Supreme Court in the 2G case.
The total income of the group increased 46.38 per cent to Rs 6,386.73 crore (Rs 63.87 billion) for the quarter ended September 30, from Rs 4,363.03 crore (Rs 43.63 billion) for the corresponding quarter a year ago, the company said in a statement. The standalone net profit of Bharti Airtel jumped 82.26 per cent to Rs 1,619.15 crore (Rs 16.19 billion) for the September quarter, from Rs 888.35 crore (Rs 8.88 billion) for the corresponding quarter last year.
Modi said this 'special invitation' from President Joseph Biden and First Lady Jill Biden for a state visit is a reflection of the vigour and vitality of the partnership between the democracies.
Centre mulls strategy to ensure powers given to the agencies are not misused.
British telecom giant Vodafone is in discussions to sell its about 5 per cent stake in telecom infrastructure company Indus Towers to Bharti Airtel, according to industry sources. The deal, if it goes through, could be worth over Rs 3,300 crore, they said. When contacted, Vodafone refused to comment on the matter. An e-mail sent to Bharti Airtel did not elicit any response.
Welcoming the concept of uniform call rates across India, proposed by Communication and IT Minister Dayanidhi Maran, Telecom regulator TRAI on Tuesday said this was a progressive step forward and it would take Indian telecom sector to new highs.
From the Sensex pack, Infosys, HCL Technologies, Infosys, NTPC, Mahindra & Mahindra, Tata Consultancy Services, Nestle, Tech Mahindra and Bajaj Finance were the major gainers. Power Grid, Larsen & Toubro, Maruti, Titan, HDFC Bank, Wipro, HDFC and ITC were among the laggards.
Almost all service providers, including BSNL and MTNL, are in various process of pilot or otherwise on IPTV deployment, which will change the way users watch TV.
Idea Cellular Ltd has achieved financial closure of over Rs 2,225 crore for its telecom venture with a project cost of around Rs 5,000 crore from IDBI Ltd and Rabo India Finance Pvt Ltd.
The government's ambitious vision document that aims at achieving electronics manufacturing with a value of $300 billion by FY26 (including exports of $105-130 billion) could end up far lower than the target, according to a reality check this month. The reality check came from the Indian Cellular and Electronics Association (ICEA), which partnered with the government in preparing the document. The members of the ICEA are mobile and electronics companies, and its assessment, based on current trends, indicates that the total electronics production in FY26 will be around $225 billion.
Reliance Industries (RIL's) annual report released on Sunday highlighted the company's focus on new energy solutions, with chairman and managing director (MD) Mukesh Ambani stating that the age of fossil fuels will not continue much longer. RIL has sought shareholders' approval to give Ambani another five-year term as MD till 2029 at nil salary. The recently demerged Jio Financial Services, which "will leverage the prowess of digital and retail businesses", was expected to be listed soon.
The O2 Xda Atom Life's size does not hamper the use of this feature-packed smart phone.
Can we make high speed 4G Internet available at 10 cents per GB, and make all voice calls free of cost -- that too in a large and diverse country like India? Can we make high-quality but simple breast cancer screening available to every woman, that too at the extremely affordable cost of $1 per scan? Can we make a portable, high-tech ECG machine which can provide reports immediately and that too at the cost of 8 cents a test? Can we make an eye imaging device that is portable, non-invasive and costs 3 times less that conventional devices? Can we make a robust test for mosquito-borne dengue, which can detect the disease on day 1, and that too at the cost of $2 per test? Amazingly, says Dr R A Mashelkar, the eminent scientist, all this has been achieved in India, not only by using technological innovation but also non-technological innovation.
The Intelligence Bureau and the Research and Analysis Wing are at loggerheads with the Home Ministry for its proposal to allow international roaming for Pakistanis on Indian soil as they believe it will be misused. Vicky Nanjappa reports
The Economic Survey 2009-10 tabled in Parliament on Thursday said that ". . . This (launch of 3G technology) will provide existing operators a good opportunity as also foreign players to make an entry into the Indian market and bring in new technology and innovation."
