Gains were led by index heavyweights with Reliance Industries contributing the most.
In terms of market capitalisation, Zee alone has a market cap of Rs 24,000 crore compared to Rs 15,000 crore of the merged Reliance entity.
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.
Pointing out to the 133-acre Dhirubhai Ambani Knowledge City on the outskirts of the financial capital, he said there is huge realty play opportunity that RCom's erstwhile corporate headquarters possesses, and pegged the potential value creation at the site at Rs 25,000 crore.
Surprisingly, RIL scrip also fell by 2.73 per cent to 1,029.15, becoming the second biggest loser in the index
Big retailers are openly talking of plans to harness the power of big data, even reporting those in annual reports as part of a long-term strategy.
IT majors weakened ahead of the September US jobs data and telecom stocks ended lower
A 15 per cent corporate tax rate for services companies in SEZs, setting up a fund for deep-tech startups and establishing clusters to demonstrate design-to-manufacturing capabilities of tech firms were some of the key demands made by the IT sector at the pre-Budget consultation on Monday. The participants shared their views and suggestions regarding Big Data, incentives for encouraging setting up of data centres, fiscal incentives for data localisation, incentives for pushing digital penetration in rural areas, and corporate guarantee to startups for competing with other nations.
'Vodafone Idea has losses running over Rs 10,000 crore in the last four quarters.' 'It has long-term debt of about Rs 1.15 trillion.' 'Even post-issue, the debt service numbers won't be good,' points out Devangshu Datta.
Globally, the focus has moved back to India, especially in terms of telecom assets. Vodafone Idea, with some 300 million customers, continues to be attractive with shares available at a low price.
RJio will further add bottomline pressures on the already struggling telcos that will ultimately be forced to consolidate
Trai's move is seen as a relief for the debt ridden sector and the industry body COAI expects that continuing with six paise mobile call termination charge will not have any impact on consumers as operators have already absorbed this charge in their recently increased mobile call and data rates.
Bharti Airtel's total revenue for the December 2018 quarter stood at Rs 20,519 crore, just one per cent higher than the Rs 20,319 crore in the corresponding period of the previous year.
The BSE Midcap and the BSE Smallcap indices pared all intraday gains to end 0.3% and 0.5% lower
Airtel, Vodafone-Idea and other telecom operators may have to pay the government a whopping Rs 1.42 lakh crore following the Supreme Court order last week that sent shock waves through an industry already grappling with billions of dollars in debt and an intense tariff war to retain customers.
VCs have been especially bullish about India.
While moving towards the new technology is compelling and inevitable, powering 5G would also mean massive initial investments for telcos, says Surajeet Das Gupta.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
Mukesh Ambani said the Digital India initiative has the potential to transform the lives of 1.2 billion Indians using the power of digital technology.
Upfront payment of Rs 32,000 cr just half of Budget estimate; no takers for 700 & 900 megahertz bands
Banks have Rs 10 trillion in stressed assets - Rs 7.8 trillion of bad loans and Rs 2.2 trillion of restructured ones.
RJio is targeting the existing base of high-value customers.
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.
Reliance announced energy asset sales worth around $ 16 billion; end of the investment cycle in telecom; bringing net-debt to zero in 18 months; value-unlocking options for real estate and financial assets; listing of telecom and retail in five years; and focus on dividends.
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
Financial shares were the top losers.
Monsoon is expected to be normal in June.
Norton report says Indians putting themselves at risk over Wi-Fi usage
ONGC was the top performer while private banking major ICICI Bank extended gains
Inflation is down, growth is headed for recovery. RIL and subsidiary Jio are on an upswing. However, stressed loans and impending job losses are the dark clouds, says Devangshu Datta.
In the not too distant future, you could see 5G technology being used for functions such as remotely-performed robotic surgeries, mine equipment operated remotely or cars driven by someone sitting hundreds of miles away. While these ideas will certainly find application globally, the urgent need for them in India could spur swifter adoption here than elsewhere.
Investing in special situations can help you tap opportunities that arise during adverse conditions, advises Joydeep Sen.
While UltraTech Cement has been the biggest value creator adding nearly Rs 99,000 crore to its market capitalisation, Grasim Industries has added around Rs 27,000 crore to its market cap.
China had been trying hard to enter the Indian market, without opening its own to Indian products. There is an economic crisis in India-China relations that the Chennai Connect barely scratched the surface, points out Srikanth Kondapalli.
On a weekly basis, the Sensex climbed 749.86 points or 2.69 per cent and the NSE Nifty soared 237.10 points or 2.76 per cent
Bankers said as part of its debt reduction plan, Canada's Brookfield-sponsored India Infrastructure Trust acquired a pipeline for Rs 13,000 crore from East West Pipeline Ltd, an arm of Reliance Industries Holding Private Ltd, and all the liabilities are now off the subsidiary's books.
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
Airtel has pitched for a hike in mobile and data tariffs.
'The recent US jobs report has eased fears of a hike in the Fed meeting.'
Stock specific action is seen with some of the prominent companies posting their quarterly numbers.
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