The department of telecommunications, in the draft universal licence guidelines to be signed with telcos which recently won spectrum in the 1800 MHz auction of November, has included a new clause for foreign companies.
The government on Wednesday said the Mahanagar Telephone Nigam Ltd board has approved the bid for acquiring stake in Rwanda Telecom.
ontinuing its acquisition spree in the international market, Bharti Airtel on Wednesday said the company will acquire 100 per cent stake in Telecom Seychelles for $62 million (about Rs 288 crore).
Bharti Telecom stake in the company has been now been raised to 43.72 per cent, the company said in a BSE filing.
The other stressed sectors, according to Chidambaram, are infrastructure, steel, construction, textile and food processing.
The Street shrugged off a muted first quarter of financial year 2023-24 (Q1FY24) and a cautious near-term outlook by India's largest information technology (IT) services company, Tata Consultancy Services (TCS). The stock was the top Nifty50 and Sensex gainer on Thursday, rising 2.5 per cent, as investors took comfort from a robust order book and an encouraging pipeline. Like its larger peer, HCL Technologies' (HCL Tech), too fell short of the Street's expectations on the revenue and margin fronts given cuts in discretionary expenditure.
In the backdrop of intense competition in the sector, government on Tuesday asked telecom PSUs BSNL and MTNL to reinvent themselves to react faster on aspects like tender processes.
Two regional CDMA players - HFCL in Punjab and Shyam Telecom in Rajasthan - have deposited fee for their GSM spectrum as per the dual technology permitted by the government. HFCL deposited Rs 151.75 crore (Rs 1.51 billion) for Punjab circle, while Shyam gave about Rs 32 crore for the Rajasthan circle.
The RIL-RCOM deal is an indication of telecom sector's future. As the mobile subscriber numbers plateau, telcos need to look at alternate stream of revenues, and data services will be the key to their growth.
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