Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
India's second-largest telecom operator Bharti Airtel on Tuesday posted more than twofold year-on-year jump in its consolidated net profit for the March quarter to Rs 2,008 crore, buoyed by a lift in average revenue per user and an exceptional gain. The telco said its Q4 scorecard was backed by strong performance delivery across the portfolio and its CEO Gopal Vittal, in a statement, exuded optimism about opportunities in the coming years and Airtel being "well-poised" as a company. Airtel, which competes in the market with Reliance Jio and Vodafone Idea, as well as state-owned BSNL/MTNL, promised to maintain razor sharp focus on financial flexibility, optimising the capital structure and finance cost.
Promoters' holding in private sector BSE 500 companies declined to 43.4% in Sept
The S&P BSE Sensex ended 80 points up at 23,789 while the Nifty50 closed at 7,235, up 24 points.
Sun Pharma dipped 2% to Rs 615 on the BSE, its lowest level since November 9, 2016
Leading microchip providers Qualcomm and Intel say the chip shortage might last anything between four months to a year, perhaps even two years, depending on the various product categories - mobile devices, ICE, electric vehicles, appliances, data centres. Prakash Mallya, MD, Intel India and vice president, sales and marketing and communications group, said the spike in demand was huge, and cut across segments from PCs, phones, appliances and auto leading to the shortage.
Among the many exits from the billionaire's club in 2022 are D Uday Kumar Reddy of Tanla Solutions (net worth down 66 per cent), Sushil Kanubhai Shah of Metropolis Healthcare (down 65.7 per cent), Vijay Shekhar Sharma of One97 Communications (down 66 per cent), and C K Birla (down 43.4 per cent).
Sensex ends 134.91 pts down at 28,709.87; Nifty falls 44.70 pts at 8,712.05.
"The amended second draft (known as DAP) has since been finalised by the review committee driven by tenets of defence reforms announced as part of the 'Atmanirbhar Bharat Abhiyan' and has been placed in the public domain," the ministry said.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
Market breadth was weak with 1239 losers and 1078 gainers on the BSE.
General Pande said the northern border region has been peaceful and steps have been taken to maintain peace through established protocol and existing mechanism.
'Unless India Inc's earnings offer promise in March 2017 quarter, sentiment may not reverse in a hurry.'
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.
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.
The words 'industry', 'industrial development', 'jobs', and 'employment' have been ringing with higher frequency since Mamata Banerjee stepped into her third term with landslide victory after a high-octane election last year. "Our government's next target is industrial development," the chief minister (CM) had been heard stating at different public meetings in the past few months - perhaps setting the tone for the sixth edition of the Bengal Global Business Summit (BGBS) slated for later this month. Investor summits by any state are about intent, big numbers, and tall claims. Yet in competitive federalism, its importance as a marketing tool is undeniable.
Rise in crude oil price and rally in global equities aided the sentiment
The S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.3% and 0.5%, respectively
The continuing stress faced by corporate India has weakened their debt-servicing capability and this is reflected in the banks' books, as yet-burgeoning bad loans.
Their startup investments number 13 so far, compared to 17 deals in 2020.
In effect, companies which put their money in telecom in India would have done much better to keep the cash in bank and earn interest.
After 3 weeks of consecutive rally, this week was a breather for the index, which corrected by almost 1.5%.
"I answer all your questions, whatever you ask me. Why don't you question Prime Minister Modi on the Rafale deal, on Amit Shah's son. Why don't you question the prime minister who changed the entire Rafale deal to help a businessman?" he asked.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
RIL's standalone net profit rose one per cent quarter-on-quarter
Licence winners are expected to be announced by the first quarter of 2014.
Investors brace up ahead of the key macrodata- IIP and CPI numbers due to be unveiled tomorrow.
In the capital goods space, Punj Lloyd and KEC International could be in limelight for the expected turnround
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
Muted quarterly earnings, mixed cues from global markets and unabated foreign fund outflows added to the volatility
The broad-based NSE Nifty rose 52.80 points, or 0.50 per cent, to end at 10,530.70
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
Banking and telecom will see the highest impact of this transition.
The circular says even a day's delay in servicing loans would be now taken as a 'default'. And once in default, for loans above Rs 2,000 crore, the banks will have to arrive at a resolution within 180 days, else lenders will have to file an application under the IBC within 15 days.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
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.
Jio and Ericsson tested the limits of 5G by demonstrating multi-gigabit speeds and super-low latency capabilities that are making new offerings such as remote control of machines and 360-degree 4K video streaming.
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.
Lt Governor says discoms must cooperate or face cancellation of licences. Ficci cries interference.
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