Revenue was also boosted by robust growth in retail business which recorded a 73.6 per cent increase to Rs 11,571 crore
The Supreme Court on Wednesday deferred the Board of Control for Cricket in India elections till the end of January even as the cricket body opposed the constitution of an external high-powered committee to propose punishment on the Mudgal Committee's findings in the betting and spot-fixing scam in the Indian Premier League.
Markets were left high and dry last week, as the 'Monsoon Effect' played havoc on trader sentiment.
Sensex, Nifty end the day in red on unfavourable cues from global markets.
The Cabinet approved giving Bharti Airtel, Vodafone Idea Ltd and Reliance Jio an option to avail of a two-year moratorium on payments they were supposed to make in yearly installments for the spectrum bought in auctions.
Telecommunication companies buying airwaves in an Indian auction next month will pay 5 per cent of their revenue as an annual fee.
VCs have been especially bullish about India.
Those scheduled to attend the five-day WEF Annual meeting, beginning January 21, include more than 40 heads of state or government, including those from the UK, Australia, Japan, Iran, Israel, Pakistan, Brazil, Italy, Mauritius, Republic of Korea and Switzerland, WEF announced on Wednesday at a press conference in Geneva.
'The much-awaited decision could be a welcome change at a time when the Indian armed forces are crying for self-reliance and the defence industry is looking forward to more indigenisation,' notes Nitin A Gokhale.
There were apprehensions in the SII about rival Bharat Biotech's 'indigenous' tag, opening up shortcuts for it. One senior person, who was very familiar with the sector, told me, 'The message has gone out from the very top. Somani (V G Somani -- drug controller general of India) has told me "Bharat ka karna hai".' A fascinating excerpt from Abantika Ghosh's Billions Under Lockdown: The Inside Story Of India's Fight Against COVID-19.
Although the industry is disappointed with the government decision not to lower spectrum prices at a time telcos are saddled with over Rs 4-trillion debt and an estimated Rs 1.43-trillion licence fee dues, the DCC has relaxed the payment structure to offer some relief to the financially stressed sector.
You will lose out on discounts and have to pay a higher premium.
Lt Governor says discoms must cooperate or face cancellation of licences. Ficci cries interference.
'Rahul is only making a pathetic public spectacle of his lack of judgment and good sense by hallucinating that somehow, the Congress, or whatever political combine is cobbled together, will displace the BJP at the coming Lok Sabha election by constantly harping on the Rafale deal,' argues retired civil servant B S Raghavan.
As record stock market rally continues, the value of shares directly owned by next-generation business leaders at 20 major corporate houses has soared over 18 per cent to Rs 17,000 crore.
The defence minister has 20 months to learn the military's ethos, culture and to publicly bat for an organisation that feels increasingly marginalised and underappreciated.
SBI comes second and Bharti Airtel is third
At 11:37 am, the S&P BSE Sensex was up 28 points at 27,037 and the Nifty50 was up 2 points at 8,268
News of all that's transpired on and off the football field
Sunil Bharti Mittal, bottom, left, says he is fond of Bill Gates' famous quote: "Success is a lousy teacher." Back from a long foreign business trip, the founder-chairman of Bharti Enterprises talks to Malini Bhupta and Kiran Rathee about the challenges posed by Reliance Jio and how he is determined to come out on top once again. Mittal says , today, Airtel is as ready as Jio in pure-play 4G operations.
India Inc has few leaders who are likely to grab headlines in 2015.
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore (Rs 110 billion) received in 2013.
There could be significant announcements about India's purchase of Kamov-226T helicopters, S-400 air defence missile systems, and the long-delayed contract for joint development of the Fifth Generation Fighter Aircraft.
Summary of sports events and persons who made news on Thursday
'The finance minister and the government have met the immediate challenge. The wine this time is new and also in a new bottle, which, though not full, is less than half empty.'
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RBI's forex swap window for oil marketing companies addresses an urgent issue but what happens when the dollars have to be returned?
'Let me talk about young Indian startups with their hearts in the right place and how they are proving that innovations that represent 'affordable excellence' -- breaking the myth that 'affordability' and 'excellence' cannot go together -- is indeed possible!' says Dr R A Mashelkar, the eminent scientist, in this fascinating feature.
"The poor will not suffer disproportionately due to bouts of sharp inflation, and the middle class will not see its savings eroded," Raghuram Rajan said.
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