With competitive pressures increasing at home, Bharti is making a third attempt to gain a foothold in the African market.
Warid Telecom, a wholly-owned subsidiary of the Dhabi Group, offers mobile telecom services with a user base of over 2.9 million in Bangladesh.
Mobile applications will now take centre-stage as Bharti Airtel grows its business.
Telecom major Bharti Airtel on Wednesday said its net profit dipped nearly 28 per cent to Rs 1,215.2 crore (Rs 12.15 billion) in the quarter ended June 30, 2011.
Cellular major Airtel would be offering its services in Jammu and Kashmir by June next year thus becoming the first private sector operator to enter the militancy-affected state.
Bharti Airtel has received financing commitments of up to $2.5 billion from top Chinese banks.
Of the top 10 valued firms, eight including Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Hindustan Unilever Ltd, HDFC and ITC witnessed gains in their market valuation. From the top-10 pack, the valuation of HDFC Bank jumped Rs 31,553.45 crore to Rs 929,752.54 crore.
Firstsource will provide a suite of BPO services covering both voice and back-office in areas such as customer accounting, VAS provisioning, fraud and credit monitoring, the company said on Wednesday. The company will also set up centres in Vashi and Chennai for Airtel and expects to have over 1,000 employees in the first year focussed on providing services in English and eight other regional languages to Airtel's customers.
UK telecom giant Vodafone has offloaded its 5.6 per cent direct stake in India's mobile leader Bharti Airtel to promoter Sunil Mittal's group for $1.6 billion, coinciding its acquisition of controlling stake in Hutch-Essar.
Profit taking in Bajaj Finance, Nestle, Kotak Bank, SBI, Bharti Airtel L&T and Asian Paints also weighed on the benchmark index. Maruti bucked the trend by gaining 1.73 per cent after strong retails sales in September. Power Grid, M&M. JSW Steel and Tata Steel also advanced.
Eight of the 10 most valued firms faced a combined erosion of Rs 1,17,493.78 crore in market valuation in an overall weak trend in equities last week, with Infosys taking the biggest hit. Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank and ICICI Bank were among the eight companies that suffered a decline in their valuation. ITC and State Bank of India were the only gainers. Last week, the 30-share BSE Sensex fell by 775.94 points or 1.28 per cent.
IndusInd Bank was the biggest gainer in the Sensex pack, rising 3.25 per cent, followed by Tech Mahindra, Wipro, Bharti Airtel, HCL Technologies, Axis Bank, HDFC Bank, RIL, TCS, L&T and Infosys. State Bank of India, NTPC, Maruti, Bajaj Finserv, Tata Motors and Power Grid were among the laggards, slipping up to 2.94 per cent.
Telecom major Bharti Airtel on Wednesday reported over two-fold jump in consolidated net profit at Rs 1,436.5 crore in the third quarter of 2014-15 on the back of continued growth in mobile data revenue.
Analysts say the next phase of growth for telecom operators would be driven by data businesses, as voice call rates have stabilised and growth in subscriber numbers has reached a point of stagnation.
Bajaj Finance was the biggest gainer in the Sensex pack, rising 2.70 per cent, followed by Power Grid, IndusInd Bank, NTPC, Bharti Airtel, ITC, Bajaj Finserv, Infosys, Nestle, Tata Steel, Tata Consultancy Services, Titan and Axis Bank. Reliance Industries, Mahindra & Mahindra, Maruti and State Bank of India were among the laggards.
Domestic cellular major Bharti Airtel on Friday entered into the elite league of corporate entities with a market value of over Rs 1 trillion, joining ranks with giants like Reliance Industries, Infosys, ONGC, NTPC and TCS.
Airtel became the first private telecom operator to launch mobile phone services in Jammu and Kashmir and said that it would invest Rs 125 crore\n\nin the state by the end of this fiscal.
Bharti Airtel said on Wednesday the government has alloted additional spectrum to the company in five telecom circles in the country. The five circles are West Bengal, Gujarat, Uttar Pradesh (west), Assam and Haryana.
The Minister was talking to media on sidelines of a function organised by Department of Telecommunication for new version of Internet addresses, IPv6.
Bharti Retail has started offering facility to pay shopping bills through mobile phones
The move by three major telecom service providers - Bharti Airtel, Vodafone Essar and Idea Cellular - to set up a consortium for passive infrastructure is gaining ground, but independent telecom infrastructure providers are yet to be convinced.
The company said in a statement that 'it has entered into a binding agreement with Qatar Foundation Endowment, under which Bharti will issue 199,870,006 of its new shares to QFE representing a shareholding of 5 per cent in the Company, post issuance of the new shares."
India's largest cellular service company Bharti Airtel will invest $600 million in Nigeria's mobile market following its take over of Zain Telecom's African business for around SUD 10.7 billion.
In a disclosure on the National Stock Exchange, Airtel said Kohli sold 70,000 shares in the company on March 9.
Telecom as a market is heading towards saturation and Airtel, the industry leader, is strongly impacted. The company needs to do nothing short of re-inventing itself if it wants to keep its earlier growth momentum going.
Bharti Airtel was the biggest gainer in the Sensex pack, rising 2.37 per cent, followed by Mahindra & Mahindra, HCL Tech, Tata Motors, Tech Mahindra, HDFC Bank, Wipro, Tata Consultancy Services, Axis Bank and Nestle. Asian Paints, Hindustan Unilever, Bajaj Finserv and NTPC were among the laggards.
The company, which has 3G licences for 13 circles, is also in talks with other service providers to roll out the services in the remaining 10 circles as part of its roaming offerings.
Sunil Mittal is confident that Airtel will retain its numero uno position, inspite of Vodafone's competition.
The IPO boom in 2023 added four new promoters to the billionaires' list.
From the Sensex pack, State Bank of India, HDFC, Axis Bank, HDFC Bank, Bharti Airtel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, NTPC and Bajaj Finserv were the major gainers.
Total expenses of the company increased by 11.76 per cent at Rs 9,816.3 crore (Rs 98.16 billion) during the reported quarter from Rs 8,782.9 crore (Rs 87.82 billion) in the corresponding period of previous fiscal, the company said in a BSE filing.
From the Sensex pack, Bharti Airtel, HDFC Bank, Titan, UltraTech Cement, ITC, Sun Pharma, Bajaj Finserv, Bajaj Finance, Hindustan Unilever and Kotak Mahindra Bank were among the major gainers. Tata Steel, Axis Bank, NTPC, ICICI Bank and IndusInd Bank were the major laggards.
iPhone 3G combines all the features of iPhone with 3G networking, which is said to be two times faster than the first generation iPhone. It has built-in GPS for expanded location based mobile services, a joint press release said. It also has iPhone 2.0 software, which includes support for Microsoft Exchange ActiveSync and runs hundreds of third party applications already built with the recently released iPhone SDK.
From the Sensex pack, Tata Steel declined 3.45 per cent, followed by Tata Motors which fell by 3.19 per cent. Bajaj Finserv, NTPC, JSW Steel, State Bank of India, Larsen & Toubro and Bharti Airtel were among the other major laggards. Nestle, Asian Paints, Hindustan Unilever and Tech Mahindra were the gainers.
Shares of HDFC Bank will witness massive inflows totalling $600 million from passive trackers this week, predict analysts. This influx is attributed to the rebalancing activities in the S&B BSE Sensex and the Financial Times Stock Exchange (FTSE) indices. The Sensex is set for its quarterly rebalancing act on September 15 (date of adjustment), resulting in inflows of $102 million (approximately Rs 850 crore).
From the Sensex pack, NTPC jumped nearly 4 per cent after the company posted over 23 per cent rise in consolidated net profit in the April-June quarter of 2023-24. Power Grid, Tech Mahindra, Tata Steel, Tata Consultancy Services, Wipro, Maruti and JSW Steel were among the other major gainers.
Capital expenditure by Indian companies is likely to see an uptick in the upcoming quarters as capacity utilisation has surpassed the critical threshold of 75 per cent, and numerous companies have deleveraged their balance sheets, according to analysts. The first quarter of the current financial year has shown improved profitability, driven by a decrease in input prices. This, according to analysts at Care Ratings, should stimulate a revival in the private capex cycle.
If he bets big, billionaire Mukesh Ambani will emerge from this week's airwave auction armed with spectrum that could make his Reliance Industries Ltd a formidable rival to market leaders Bharti Airtel Ltd and Vodafone Group.
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