BK Modi group firm Spice Mobiles on Monday launched a Windows-enabled dual-SIM handset 'Spice D-1111' priced at Rs 18,499.
Telecom regulator TRAI has raised the need to look at the option of auctioning, as followed in Europe, to price the 3G spectrum -- a move that has been opposed by the operators as it could cost a mind-boggling Rs 10,000 crore.
The mobile value added services are poised to grow by over 65 per cent to touch Rs 8,200 crore (Rs 82 billion) by the end of this fiscal from Rs 4,950 crore (Rs 49.50 billion) in the last fiscal, according to an estimate by industry body Assocham.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
If the deal goes through this will be second deal for Ebix in seven months, having bought Centrum group's forex and travel business Centrum Direct for a reported Rs 1,2000 crore valuation last August.
Foreign investors made a significant turnaround and injected over Rs 1,500 crore into Indian equities in February, reversing the massive outflows seen in the preceding month, primarily due to robust corporate earnings and positive economic growth. Additionally, Foreign Portfolio Investors (FPIs) continued to be bullish on the debt markets as they put in over Rs 22,419 crore during the month under review, data with the depositories showed. Looking ahead to March, the outlook for FPI flow appears promising, provided the current economic trajectory and corporate performance sustain their positive momentum, potentially continuing to attract foreign investment into Indian equities, Mayank Mehraa, smallcase manager and principal partner at Craving Alpha, said.
Price Waterhouse Chartered Accountants (PwC India) has resigned as the auditor of Paytm Payments Services, the fintech major said in a regulatory filing on Monday. "...we wish to inform you that M/s. Price Waterhouse Chartered Accountants LLP ... statutory auditors of material subsidiary i.e. Paytm Payments Services Limited (PPSL) have resigned with effect from August 7, 2023," the company added. Paytm said that the statutory auditors had not raised any concerns or issues and that the company had noted PwC's resignation.
The retail broking industry's top line could more than double over the next five years, according to the estimates of consultancy firm Bain & Company. The industry, which facilitates stock market trading for investors, has already witnessed its revenues double from Rs 14,000 crore during 2018-19 (FY19) to Rs 27,000 crore in 2022-23 (FY23), reflecting an annualised growth rate of 17 per cent. "This growth has been fuelled by the emergence of India's mass-affluent and affluent segments, coupled with increasing financial literacy.
Essar Telecom Retail Ltd will be introducing a pan-Indian network of retail telecom outlets called TheMobileStore, which will offer state-of-the-art technology in telecom solutions besides several value-added services.
The Noida-based company, which filed the draft prospectus in May this year, is awaiting approval from the market regulator Securities and Exchange Board of India.
The CEO or the leader must definitely reap benefits proportionate to the benefits derived by the company.
Reliance Communications announced a new rate plan - Simply Unlimited Pack - with unlimited talk time on a single monthly recharge for its CDMA pre-paid customers.
Uber Chief Executive Officer (CEO) Dara Khosrowshahi sees India as one of the toughest markets and a standard to succeed in any other part of the world. One of the biggest challenges for the ride-hailing firm, according to Khosrowshahi, is the expectation of Indian consumers for more services at lower spending. "India is one of the toughest markets out there.
Addressing a press conference, Sunil Dutt, country head, Samsung Telecommunications, said, "We plan to double our turnover. We will focus on product innovation, and value-added services like internet experience on mobile and long battery life." Even Finnish handset biggie Nokia lost market share in India from 72.3 per cent to 69.5 per cent between January and March.
"We have tied up with a technology partner, who is carrying out the field trials. We would provide 21 channels," MTNL Executive Director J Gopal told PTI. The company launched on Thursday Express alert, a value-added service for its Dolphin and Trump mobile subscribers. Subscribing to Express alert would give MTNL customers updates on astrology, cricket scores, news and stock.
Tata Motors on Monday launched the country's first CNG truck in the medium and heavy commercial (M&HCV) vehicle segment in the 28- and 19-tonne nodes. Most truck makers, including Tata Motors, currently offer CNG only in the small and light commercial vehicle segments. The company also launched a fleet of seven trucks in the intermediary and light commercial vehicle (I&LCV) segment, meant for varied applications.
Fundraising via initial public offers (IPOs) dropped 52.2 per cent to $147.2 billion in the first eight months of calendar year 2023 (CY23), suggests a recent report by GlobalData, a London-based analytics and consulting company. At the country level, the report suggests, India topped the charts with 152 transactions worth $3.8 billion during this period, primarily due to a higher number of SME IPOs, followed by the US with 99 deals totaling $16 billion, while China ranked third with 88 transactions worth $32.3 billion. "An analysis of GlobalData's Deals Database reveals that there were 750 IPO listings registered with an aggregate deal value of $147.2 billion in the first eight months of 2023 on the stock exchanges worldwide.
Gadkari was speaking in Nagpur at the ground-breaking ceremony for the statue of Chhatrapati Shivaji Maharaj on the premises of the Rashtrasant Tukadoji Maharaj Nagpur University (RTMNU).
Indian IT-enabled services companies can attain high profitability in the long term and growth of such services will be highly sustainable, according to report by CRIS INFAC, subsidiary of CRISIL.
Bangalore-based OnMobile, a telecom value-added services provider, has acquired France-based Voxmobili, a software solutions provider, for an undisclosed amount.
Telecom major Bharti Airtel on Tuesday announced that it would provide 1 Mbps speed broadband at Rs 1,699 a month, and 512 Kbps speed at Rs 1,099. Data transfer limit in both cases in unlimited.
Six decades and more later, we are now captives of our identities. Every poll is based on elaborate calculations of electability of candidates on the basis of their castes and other narrow definers. That, along with voter promiscuity, is what defines our political culture, which remains stubbornly resistant to any change, asserts Shreekant Sambrani.
Faster connectivity, a host of value added services like internet TV, video-on-demand, audio-video calls and high-speed data exchange will soon be a reality in India as one of the biggest auctions begins today for 3G spectrum.
'Auto, pharma, and industrials have delivered well in the recent quarter, while businesses like quick-service restaurants, consumer staples, and durables have underperformed in volume growth.'
The country's exports edged up 1 per cent to $38.45 billion in December 2023 while the trade deficit narrowed to a three-month low of $19.8 billion, official data released on Monday showed. Imports declined by 4.85 per cent to $58.25 billion in December last year due to a dip in crude oil shipments. The previous low in trade deficit - the difference between imports and exports - was recorded in September at $19.37 billion.
State-run telecom operator BSNL on Tuesday said it expects to close the fiscal with 10 lakh 3G users from seven lakh at present.
Six of the top-10 most valued domestic firms added Rs 91,629.38 crore cumulatively in market valuation last week, with ICICI Bank and Tata Consultancy Services clocking maximum gains. During the last week, which was holiday-truncated, the Sensex rallied 929.83 points or 2.10 per cent. The list of gainers had Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS), Hindustan Unilever Ltd (HUL), Infosys, ICICI Bank and Bharti Airtel.
IMImobile, a provider of mobile content and value added services, found that Salman Khan, Hrithik Roshan, Akshay Kumar and Sanjay Dutt were most downloaded movie stars (male) in terms of mobile content in states like Delhi, Rajasthan, Karnataka, Andhra Pradesh, Punjab and Maharashtra. In the female category, Deepika Padukone, Priyanka Chopra, Lara Dutta and Aishwarya Rai were the top five names.
Bankers said the outlook of M&As in India in 2024, especially in the second half after the Lok Sabha election, seems relatively better.
It has mostly been a one-way street for smallcap stocks that have taken it on their chin thus far in February. The Nifty Smallcap 250 index has shed 3.2 per cent in the current month as compared to the 1.8 per cent decline in the Nifty Midcap 100 and the 0.5 per cent drop in the Nifty 50 index, data showed. Technically, the index has slipped below its 20-day moving average (DMA) placed at 14,800 levels on Monday, and is currently testing the 50-DMA, and is placed at 14,278 levels.
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