Telecom Commission approves high base price of Rs 11,485 cr per Mhz for 700-Mhz frequency; no decision taken on proposed standard spectrum usage charges of 4.5%
Government expects to fetch at least Rs 64,840 crore
With inflation under control, the Monetary Policy Committee's (MPC's) job is to support growth because the economy had recovered well from the lows in the initial months of the pandemic, according to the panel's members, who met in the first week of this month. The minutes of the meeting show the Reserve Bank of India (RBI) governor in his statement said: "Given the sharp moderation in inflation along with a stable near-term outlook, monetary policy needs to continue with the accommodative stance to ensure that the recovery gains greater traction and becomes broad-based." Ashima Goyal, external member of the MPC, said: "The current macroeconomic configuration and its expected future evolution imply there is space for the MPC to continue to support the revival of the economy with inflation remaining in the target band."
Oil and select auto heavyweights bore the brunt of selling pressure; ONGC, RIL, Tata Motors, M&M key losers.
India's largest-ever spectrum auction kicked off on Saturday with major telecom operators placing bids worth Rs 53,531 crore across bands, even as the premium 700 Mhz and 900 Mhz frequencies did not find any buyer.
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Investment bankers said retail investors were pulling back, while institutions were being pickier
Telecom companies put in bids worth a total of about Rs 45,000 crore (Rs 450 billion) on the second day of the auction on Tuesday, with premium 900 Mhz band in Delhi, Mumbai and Kolkata witnessing continuing demand.
Indian IT players, over the past few years, have pressed the paddle on re-training of their employees as new technologies take centre-stage.
IndiGo had debt of Rs 3,912 crore at end of the June quarter.
Headline inflation will come down under the 6 per cent mark in July itself but will stay at an elevated level of over 5 per cent for some time, Chief Economic Advisor K V Subramanian said on Thursday. Such an outcome will get the price rise back into the upper-end of the target band given to RBI, he said, adding that consumer price inflation had breached the mark for three consecutive quarters last fiscal because of supply side issues like challenges in movement of goods. "With reasonable probability, I expect this month the (inflation) print to come less than 6 per cent," Subramanian told a conference organised by industry lobby Ficci. Right after data for May showing inflation at 6.4 per cent had come out, Subramanian said he had predicted it will cool down in internal meetings and also during "deliberations with the regulator".
Das said that global economic activity has remained fragile and the surge in COVID-19 cases has subdued early signs of revival.
Sebi has asked exchanges to appoint independent auditors to conduct forensic audit of these firms for verification, including their credentials/financials.
Surajeet Das Gupta explains why Mukesh Ambani's target is by no means impossible.
The Moto G6 has a modern screen, a front-facing fingerprint sensor, dual cameras on the rear, a glass build, a USB type-C port and water resistance that could save it from accidental splashes, says Khalid Anzar.
Upfront payment of Rs 32,000 cr just half of Budget estimate; no takers for 700 & 900 megahertz bands
Earlier this month, market regulator Sebi had given go- ahead to the disinvestment department's proposal to give preference in share allotment to those PSUs located in states in which Neyveli's generating units were located.
The wait for the new iPhone is over as the tech giant Apple officially launched its new iPhone 13 and iPhone 13 Pro on September 14.
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Based on a feedback, the exchange could cap a sector's weight at 25 per cent, or align with the broader market.
Spectrum auction took off on Wednesday from Rs 58,980.29 crore (Rs 589.80 billion) mark with demand for the premium 900 Mhz band seemingly tapering off at the end of 56 rounds.
Gandhi in a tweet wrote, "Mehngi gas, mehnga ration, band karo khokhla bhashan, daam bandho, kaam do, varna khali karo singhasan."
Bharti Airtel called the prices exorbitant while Vodafone Idea wants the auctions take place in 2020. The auctions need to happen when the infrastructure is ready for the roll out, be it in terms of fiberisation levels, or optimisation of equipment and software etc. Spending a hefty amount on a technology (airwaves) that at present offers limited returns is not going to be a priority for the incumbent telcos.
The telecom spectrum auction entered the 33rd round of bidding today after starting off from the Rs 52,689 crore (Rs 526. 89 billion) mark this morning.
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Coffee Day Enterprises Ltd is backed by KKR & Co.
If Reliance Jio resets the rules of the game with low voice and data tariffs, most incumbents will find themselves back to square one.
High-networth individuals and domestic funds from India are eyeing a slice of the much-touted mega IPO of Chinese e-commerce giant Alibaba, which looking to raise an eye-popping $21.1 billion.
It said that fixing reserve price of 800 MHz band at low levels benefits a certain set of operators.
The Chanakya, a plush mall in central Delhi, is the city's latest magnet for luxury-lovers. Oozing with opulence, it is now also home to one of America's oldest luxury brands, one that helped make New York's Fifth Avenue an iconic thoroughfare. Tiffany and Co, the American jewellery giant that has been around since 1837, made its India debut here.
After unseasonal rains, supply disruptions and pandemic-induced woes pushed retail inflation well over the Reserve Bank's comfort zone in 2020, the scenario is likely to stay that way at least in the short term as economic recovery slowly gains foothold. For most part of this year, pricier food items pushed the retail inflation, based on Consumer Price Index (CPI), higher in the range of 6.58-7.61 per cent, except for March when the reading was 5.91 per cent. Experts believe retail inflation is likely to average around 6.3 per cent this fiscal and mostly will remain sticky going forward owing to pick-up in demand across sectors.
The second round of spectrum auction will begin in March after the Cabinet decides on reducing reserve price of 800 MHz band, used for offering CDMA-based mobile services.
Reliance Jio bought spectrum in the 1800 MHz band last February.
In the broader market, BSE Midcap and BSE Smallcap indices mirrored the gains in headline indices and rose 1% and 0.9% respectively.
While the BSE's asking valuation is reasonable, compared to peers, there are some factors that long-term investors need to consider before investing.
Extended rounds of negotiations having failed, farm leaders now reckon that their best chance to pressure the government lay in defeating the BJP in the coming assembly poll, particularly in UP, observes Virendra Kapoor.
Operators continued aggressive bidding in 900 MHz band
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Private sector lender Axis Bank on Wednesday launched the country's first contactless wearable payment devices to allow customers make on-the-go transactions more conveniently. Announcing the 'Wear N Pay' wearable devices brand, Axis Bank said it is the first bank in India to offer such a service. The bank has partnered with Thales and Tappy Technologies to design and create these products, which are exclusively available on the Mastercard platform, it said in a release.
The amount generated so far is about 86 per cent of what the 3G auction fetched in 2010.
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