In a major relief to Tata Tele Services, state-owned BSNL on Wednesday decided not to disconnect interconnection with the private telecom operators and also asked its officials not to encash the bank guarantee to recover dues.
Tata Sons Ltd, the holding company of the $150 billion Tata group, may be forced to infuse fresh capital into its loss-making telecom arm, Tata Teleservices Ltd (TTSL). This is because TTSL has to pay Rs 19,256 crore adjusted gross revenue (AGR) along with other dues to the central government by March 2026.
Docomo is looking to expand its reach beyond Japan and sees India and Africa as key emerging markets.
Tata Teleservices MD, Charles Anthony, has called it quits.
TTSL is now behind only Bharti Airtel, Reliance Communications and Vodafone, the company said in a statement.
The deal between Bharti group and Tata Teleservices is yet another example of how swiftly things can change in business.
Kishore A Chaukar has been appointed as non-executive director and chairman on the board of TTML, with effect from March 24, the filing said.
Tata Teleservices Maharashtra Ltd said on Friday that Ratan N Tata has been elected as the company's chairman. \n
Global communications major Motorola said on Wednesday that it has bagged a $43 million contract from basic operator Tata Teleservices for deployment of Code Division Multiple Access network in Maharashtra, Mumbai and Goa.
Confirming this, Chief Financial Officer S Venkatesan said that the company has passed an enabling resolution to raise around $200 million from foreign investors either through an FCCB or a private placement.
After Vodafone Idea, Tata Teleservices (Maharashtra) on Tuesday said it will opt for conversion of the interest amount on AGR dues into equity and post conversion, the government's holding in the company is expected to be around 9.5 per cent. The announcement of Tata Teleservices (Maharashtra) came within hours of Voda Idea also deciding to opt for converting the interest amount on AGR dues into government equity. In a filing to the BSE, Tata Teleservices (Maharashtra) said Net Present Value or NPV of interest is expected to be nearly Rs 850 crore as per the company's estimates, subject to confirmation by the Department of Telecom (DoT).
In what can be termed as the biggest write-off by an Indian firm, CDMA service provider Tata Teleservices is planning to restructure the company to offset losses of around Rs 5,141 crore (Rs 51.41 billion) by way of capital revamp.
Tata Teleservices (Maharashtra) on Friday said Japanese telecom major NTT DoCoMo's open offer for a 20 per cent stake in the company has been deferred following a delay in approval from market regulator Securities and Exchange Board of India.
RCom and Aircel have permits for 3G services in 13 out of 22 service areas while Tata Teleservices has permit in 9 circles.
Tata Teleservices on Wednesday announced outsourcing of its entire IT infrastructure management to group company Tata Consultancy Services, a deal estimated at over Rs 1,000 crore (Rs10 billion) over five years.
Tata Teleservices Ltd plans to make a total investment of Rs 10,000 crore (Rs 100 billion) over a five-year period ending in 2007, a top executive of the company said on Monday.
The results of the Maharashtra Board HSC exam will be declared on May 25, 2010 at 11 am. Get your results online, via SMS.
Leverage ratio falls to under 1; but group heavily dependent on TCS & Tata Motors.
Typically these are high-beta stocks and earnings are volatile
No one is right all the times. Recognising the market signals is a very important part of your portfolio creation, says P V Subramanyam
These firms reported a combined operating profit of Rs 26,077 crore (Rs 260.77 billion).
Inflation is down, growth is headed for recovery. RIL and subsidiary Jio are on an upswing. However, stressed loans and impending job losses are the dark clouds, says Devangshu Datta.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The strike, however, had no impact on production of auto majors Maruti Suzuki India, Hero MotoCorp, Honda Cars India, Mahindra & Mahindra, Tata Motors and Hyundai Motors India as their plants in various parts of the country functioned normally.
Chinese telcos hold 60-100 MHz of spectrum, while Indian companies hold 13-15 MHz of spectrum.
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