In an application filed with Trai, Videsh Sanchar Nigam Ltd has sought regulatory approval to reduce prices on one of its premium connectivity modes, DS3, citing an increase in bandwidth on a submarine cable system.
The government is likely to sell its residual stake in privatised firms like Videsh Sanchar Nigam Ltd and CMC to strategic acquirers soon, Divestment Minister Arun Shourie said on Monday.
VSNL Lanka Ltd, a wholly owned subsidiary of Videsh Sanchar Nigam Ltd on Tuesday said that it has been granted external gateway operator license by the Telecom Regulatory Commission of Sri Lanka.
Videsh Sanchar Nigam Ltd has inked a pact with ICICI Bank Ltd, whereby the private sector bank will distribute the former's Tata Indicom dial-up Internet services through its ATMs in the country.
The bottomline of Videsh Sanchar Nigam Ltd, a Tata group company, is under pressure due to a fall in long distance rates, according to VSNL managing director S K Gupta.\n\n\n\n
Feeling the heat turned on by private sector players who have slashed rates, Videsh Sanchar Nigam Ltd said on Monday that it will review National Long Distance plans despite having commenced services in around 10 stations.\n\n\n\n
Citi Group on Wednesday clarified that it owns 2.1 per cent equity stake in Tata-controlled Videsh Sanchar Nigam Ltd, which is less than 4.2 per cent that it had earlier reported with the US Securities and Exchange Commission.
Videsh Sanchar Nigam Ltd has decided to acquire the entire stake of Tata Power Broadband for Rs 239 crore (Rs 2.39 billion).
The Tatas-owned Videsh Sanchar Nigam Ltd, the Internet gateway and service provider, is likely to receive around Rs 786 crore ($169 million) from the sale of its 5.42 per cent stake in US satellite company, Intelsat Ltd.
The government has raised over Rs 11,356 crore (Rs 113.56 billion) from divestment of public enterprises during the past three years.
Videsh Sanchar Nigam Ltd has recorded 3.29 per cent growth in net profit at Rs 91 crore (Rs 910 million) for the second quarter ended September 30, 2005.
Videsh Sanchar Nigam has posted a 385 per cent increase in net profit at Rs 399.2 crore (Rs 3.99 billion) for the quarter ended March 31, 2005 as compared to Rs 82.2 crore (Rs 822 million) for the quarter ended March 31, 2004.
VSNL was taken over by a bout of volatility in early trades on Monday, losing 4.35% to Rs 80.15, but then picking up to make good much of the loss.
The service will cover areas where no network is available and will be provided by INMARSAT, which has 14 satellites.
Former Trai chief lashes out on CBI, ministers in 2G scam
In all, 25 Chairman-cum-Managing Director (CMD) posts, 8 MD posts and 2 Chairman posts are lying vacant, according to a written reply by Minister of State for Heavy Industries and Public Enterprises P Radhakrishnan in the Lok Sabha.
Index heavyweights ITC was the top gainer along with RIL and HDFC
R Venkataramanan, the managing trustee of the Sir Dorabji Tata Trust who is responsible for all Tata-run trusts, prefers to keep a low profile but has emerged as a power centre in the group - with more clout than many established CEOs, says Dev Chatterjee.
Modelled loosely around the National Highway System of the US, he in 2001 launched the Golden Quadrilateral and the North-South & East-West Corridor projects to build 4/6 lane highways between four top metropolitan cities of Delhi, Mumbai, Chennai and Kolkata as well as from Srinagar to Kanyakumari and Porbandar to Silchar.
No successive government thought of reviving the idea of an exit policy.
Vinod Kumar, Tata Communication CEO has amazing business strategies to enhance topline.
'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.
Mukund Rajan, who worked closely with Ratan Tata, recalls the unique experience of working with the corporate titan.
