TCS, Bajaj Auto, Adani Ports and Cipla were the top gainers on BSE Sensex while Coal India, GAIL, Dr Reddy's and Infosys lost the most on the index.
Mukesh Ambani's Reliance Industries Ltd is preparing to apply for permission to set up a nation-wide broadband telecom network for internal (non-commercial) use.
Fresh buying by domestic institutional investors and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment
Just a few weeks ago, Communications Minister Ashwini Vaishnaw did some tough talking with the senior managers of Bharat Sanchar Nigam Ltd, the ailing state-owned telecom service provider. The message was clear: They had to perform, quit by taking the voluntary retirement package or be compulsorily retired from service. The terse message from an otherwise polite and soft-spoken minister came just days after he announced a second and bigger package of Rs 1.64 trillion as part of a four-year turnaround plan for BSNL.
In a move that could hot up the telecom war, Anil Ambani owned Reliance Infocomm has accused Videsh Sanchar Nigam Ltd of killing the competition in bandwidth market by creating both price and non-price barriers.\n\n
Amazon provided mere "lip service" and failed to provide any help to the debt-laden Future Group as the retail major suffered massive setback amid the COVID-induced lockdown and faced possible insolvency or debt restructuring, Future Group's promoters said in a letter to the e-commerce giant. This is the first time Future Group promoters have written to Amazon after the parties were embroiled in a legal battle over the sale of Future's retail assets to Reliance Industries. The letter from the promoters, including Kishore Biyani, was written on December 31. It alleged that Amazon's actions "lacked good faith" during the March to August period, when the group's retail business was severely hit by the lockdown.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
The 30-share Sensex ended up 8 points at 27,508 and the 50-share Nifty closed 1 point higher at 8,284.
Sebi has barred Allegro Capital and one of its senior executives from the securities market for one year in a case related to alleged insider trading activities in the shares of Biocon. Besides, the market watchdog has directed them to disgorge wrongful gains along with interest. The amount would be more than Rs 24 lakh. Allegro Capital and its director as well as major shareholder Kunal Ashok Kashyap have been fined Rs 10 lakh each, according to an order by Sebi dated July 8.
Bharti Airtel and Vodafone Idea have communicated to the telecom department that they will not pay AGR dues of Rs 88,624 crore, the deadline for which ended on Thursday, and will wait for the outcome of modification petition listed for hearing before the Supreme Court next week, according to official sources. Reliance Jio on Thursday paid Rs 195 crore to the telecom department to clear all adjusted gross revenue dues accounted till January 31, 2020, according to an official source.
The S&P BSE Sensex gained 57 points to end at 26,064 and the Nifty50 climbed 17 points.
The S&P BSE Sensex ended 80 points up at 23,789 while the Nifty50 closed at 7,235, up 24 points.
The intra-city cable leasing deal will give RCom Rs 1,200 crore, which will be used to clear some of its debt.
Justice Rajiv Shakdher, who was hearing a plea by Bollywood producers seeking to restrain them from making irresponsible remarks, listed the matter before the Joint registrar for January 18 for completion of pleadings and admission/denial of documents.
For 2100-MHz, 2300-MHz and 2500-MHz bands across circles; aim to offer these with 3G and 4G in February
The high court's order came on a plea by acquitted individual and Kusegaon Fruits and Vegetables Pvt Ltd director Asif Balwa that the CBI has not placed on record the mandatory authority under the provisions of the CrPC.
Beside RIL's Jio Switch and Jio Browser, smaller Indian app companies who have been overwhelmed by TikTok are again seeing a big rush - even though till the second week of June they might not have been even listed in the top 100 apps in the country.
'It's the brazen corruption involving politicians that makes you sit up years after the event,' notes Nivedita Mookerji after reading B K Syngal's Telecom Man.
Muted quarterly earnings, mixed cues from global markets and unabated foreign fund outflows added to the volatility
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
On the method of computation of its share value under the new dispensation for the purpose of taxation.
Following the October 24 Supreme Court order, the department of telecom estimated that the total liability of 15 telecom companies, including penalties and interest, would be Rs 1.47 lakh crore.
The broad-based NSE Nifty rose 52.80 points, or 0.50 per cent, to end at 10,530.70
Balwa, who is accused along with 16 others in the case, claimed that he cannot be prosecuted for pushing back Tata in the race as the firm was never in the race to get the 2G spectrum licence
The government on Wednesday approved a Rs 7,350-crore scheme to boost production of laptops, tablets, all-in-one PCs and servers in the country, as it sought to woo global and domestic players to take advantage of India's manufacturing prowess. Production worth Rs 3.26 lakh crore and exports of Rs 2.45 lakh crore are estimated over the next four years under the new scheme, which is expected to create 1.80 lakh jobs. Briefing reporters after a meeting of the Cabinet, Communications and IT Minister Ravi Shankar Prasad said the Production Linked Incentive (PLI) scheme has been approved for IT hardware products that would cover laptops, tablets, all-in-one PCs and servers.
IndiGo Airlines signs $2.6-billion leasing and financing MoU with Industrial and Commercial Bank of China.
Lt Governor says discoms must cooperate or face cancellation of licences. Ficci cries interference.
Licence winners are expected to be announced by the first quarter of 2014.
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
There was no word on whether or when Patel would be talking to the media about his priorities and plan of action as head of Mint Street
The move comes against the backdrop of the US and some of its allies banning the purchase of Chinese telecom gear over security concerns and pressuring other countries to follow suit.
The case relates to alleged wrong classification of mixed xylene
While lower gas output led to earnings cuts, price rises with regular ramp-ups in output will lead to earnings upgrades
Reaching out to present and former employees of the defence PSU at an interaction with them, Gandhi said, work done by HAL for the country was tremendous and the country owed debt to it for "protecting us" and creating a scientific vision.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
RIL's standalone net profit rose one per cent quarter-on-quarter
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
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