France Telecom is close to buying the IT business of communication infrastructure provider GTL in the next few days for about $70 million, intended to enter the fast growing Indian telecom space.
The Telecom Commission, the policy-making wing of the DoT, will soon take up the issue of divestment in state-run BSNL, Telecom Minister A Raja said on Wednesday.
The public issue of 39,56,808 equity shares would open on December 4 and close on December 7. The company has fixed a price band of Rs 125 to Rs 150 per equity shares to be decided through book building.
A department of telecommunication official said the regulator has already put questions relating to uniform licence fee to the stakeholder in its consultation paper 'Overall Spectrum Management and Review of License Terms and Conditions'.
Reports by CAG earlier on the 2008 telecom licence scam had resulted in the cancellation of 122 licences.
The country's largest private telecom operator, Bharti Airtel, paid the highest revenue, both in terms of spectrum charges and licence fees, to the government for the quarter ending December 2009.
The UAE-based Etisalat issued proceedings on Monday towards winding up its Indian joint venture Etisalat DB Telecom, earlier called Swan Telecom. The company was doing it "so that there can be a proper and orderly end to the business of Etisalat DB Telecom that is supervised by the Indian Courts", it said in a statement.
Idea tops list of companies with high percentage of active subscribers.
TIA said it is very concerned over the discriminatory policy proposals that India is contemplating.
Former telecom secretary Siddharth Behura, arrested for his alleged role in the 2G spectrum allocation scam along with former telecom minister A Raja on February 2, was denied bail by the Delhi high court on Friday.
The Union Cabinet on Thursday approved the extension by four months, the deadline for telecom companies to comply with guidelines on Foreign Direct Investment.
Reliance Industries Ltd on Friday reported a 27 per cent jump in its September quarter net profit as earnings from the oil and gas business rebounded, and a pick-up in fashion and grocery helped boost retail revenues. The oil-to-retail-to-telecom conglomerate's consolidated net profit of Rs 17,394 crore, or Rs 25.71 per share, in July-September - the second quarter of the current 2023-24 fiscal - was 27.3 per cent higher than Rs 13,656 crore, or Rs 19.92 a share, earning a year back, the company said in a statement. The net profit was also higher quarter-on-quarter compared to Rs 16,011 crore earnings in the preceding three months ended June 30.
India Inc's net profit as a percentage of the country's gross domestic product (GDP) is just shy of reaching 5 per cent, bolstered by strong earnings growth in the second quarter of 2023-24. Analysts interpret this as an indication that a corporate profit upcycle is in progress, with projections suggesting that this share could exceed 8 per cent within the next five years, driven by bullish earnings growth expectations. "We believe we are only halfway through a profit cycle, with the profit share in GDP rising from a low of 2 per cent in 2020 to about 5 per cent currently, and likely heading to 8 per cent in the coming four to five years. "This implies about 20 per cent compounding of earnings growth. "Underscoring this forecast is the start of a new private capex cycle, under-geared balance sheets, a healthy banking system, lower corporate tax rates, improving terms of trade, and structural consumption demand outlook albeit somewhat offset by likely consolidation in government deficit," said Ridham Desai, managing director, head of research, Morgan Stanley India in a note.
If completed, the 50-50 joint venture would value Reliance Communications' cable assets at $1 billion, the newspaper said, adding Citic Telecom beat out two other bidders from West Asia earlier this month.
The 'Pran Pratishtha' of the idol of Ram Lalla -- the childhood form of Lord Ram -- will be attended by people from all walks of life, including representatives of major spiritual and religious sects of the country and of various tribal communities and prominent personalities.
Reports that the government is considering seeking a review of that judgment are worrying.
The Indian telecom market size of over Rs 400 billion is expected to treble itself by year 2011-2012, according to Ernst & Young.\n\n\n\n
The Telecom Disputes Settlement and Appellate Tribunal has decided to charge commission on the petitions, claims and suits for recovery of money or an outstanding amount.
DoT, has decided that it will not cancel the GSM licences of dual-technology companies.
The absence of a transparent telecom regulatory environment not only makes life difficult for service providers, but also impacts investors' confidence in the sector, a senior Bharti Airtel official said.
Expressing concern over frequent internet shutdown without any empirical study, a Parliamentary panel has pulled up the Department of Telecommunications for not maintaining the record of incidents and inaction on several of its recommendations. The Standing Committee on Communications and Information Technology on 'Suspension of Telecom Services and Internet and its impact' tabled in Lok Sabha on Thursday, the panel has asked the Department of Telecom (DoT) to lay down a clear cut principle of proportionality and procedure for lifting of shutdown in coordination with the home ministry to prevent any misuse of the suspension rules. The panel rejected the logic of the DoT and Ministry of Home Affairs (MHA) for not maintaining the record of the shutdown, saying it cannot simply take the plea that police and public order are essentially state subjects and suspension of the internet does not actually come under the ambit of crimes.
The penetration levels in rural and semi urban areas can be significantly enhanced, and government can help in this mission through reduction and rationalization of levies.
Reliance Industries Ltd on Friday reported an 11 per cent drop in its June quarter net profit largely due to weak oil-to-chemical (O2C) vertical and higher interest and depreciation cost. Net profit was Rs 16,011 crore, or Rs 23.66 per share, in April-June - the first quarter of current 2023-24 fiscal year - compared with Rs 17,955 crore, or Rs 26.54 a share, earning a year back, according to a company's stock exchange filing.
The price hikes during Covid were more because of supply chain and logistics disruptions caused by the pandemic and the Ukraine war rather than firms increasing prices because of higher pricing power, a report by State Bank of India (SBI) said. "It is thus incorrect to infer that concentration power dictated pricing capacity of firms, thus resulting in unyielding core inflation," the report authored by Soumya Kanti Ghosh, group chief economic adviser, SBI, said. A recent research article by former Reserve Bank of India (RBI) deputy governor Viral Acharya had observed that persistence of core inflation in India is due to purchasing power of top-five corporate houses.
There are 10 million new subscribers each month, but they're not adding much value - telecom revenues are flat as a chapatti.
Sun Microsystems India Pvt Ltd, a wholly-owned subsidiary of US-based Sun Microsystems Inc., is eyeing the telecom and banking sectors for driving growth in the high-end server market in the country.
Operators say 10-paisa, 25-paisa calls not possible.
One reason why mobile subscribers haven't shifted companies is that the service is uniformly bad. But now, with new players coming in, the picture could be different, says Sunil Jain.
Tower Tube is a self-contained fully-encapsulated site with a five-metre diameter room at the base to house all equipment. Ericsson claims that Tower Tube consumes 40 per cent less electricity and produces 30 per cent less carbon emission when compared with traditional towers.
The industry expects faster finalisation of 2G spectrum bidding process, more clarity on the spectrum prices and related issues.
The policy was earlier expected to be unveiled by December this year, but delays in receiving recommendations have pushed the date to next year.
The number of mobile phone connections in India rose by 1.96 million in March, after reducing by 1.06 million in February, latest data from the Telecom Regulatory Authority of India (Trai) showed. The number of new connections have hit a 9-month high. In these past 9-months, the total number of wireless (mobile phone) subscriptions had reduced on 5 occasions, the data shows.
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