Telecom shares rallied on hopes that they would hike tariffs after huge investments to acquire spectrum.
Spectrum was sold at about 68 per cent premium.
The Telecom Regulatory Authority of India (Trai) has given its recommendations on the much-awaited issue of spectrum sharing.
A crown of thorns awaits the next telecom minister at Sanchar Bhawan as the new incumbent will have to address a host of tricky issues like industry infighting, tariffs and improving financial health of the Rs 2.3 lakh crore industry.
Some leading Indian companies are likely to see their earnings declining if the Indian currency depreciates further, analysts and finance heads say.
The company is to act as an ISP across rural areas for local entrepreneurs.
In the capital goods space, Punj Lloyd and KEC International could be in limelight for the expected turnround
Eight Sensex biggies such as Reliance, L&T, BHEL, SBI and ICICI Bank are among the worst hit.
BSE Bankex and Telecom indices led the fall.
Sources say companies will have to keep the market share of merged entities below 50% in all circles
Decision to build or buy a platform is a function of price but buyouts are helping large investors create a medium and influence outcomes.
Bharti Airtel, Vodafone, Reliance Jio Infocomm and five other telecom firms will battle it out at the spectrum auction tomorrow, from which the government expects to garner at least Rs 11,300 crore (Rs 113 billion).
Flipkart may walk away from ongoing discussions with telecom service provider Airtel for their platform 'Airtel Zero'.
More than 10% (40 of 498 companies) have lost at least half their market value.
The Bangalore-headquartered firm had posted a net profit of Rs 1,623.3 crore (Rs 16.23 billion) in the year-ago period, it said in a BSE filing.
The company will use the proceeds to part-repay its debt, which stands at Rs 34,000 crore (Rs 340 billion) even after the recent qualified institutional placement of its shares. An RCom board committee recently approved the sale of these assets.
T N Ninan lists a few David-Goliath encounters in the Indian markets, all of which make life interesting, though difficult if you are an investor looking for the next multi-bagger.
The one common theme across companies that have rewarded shareholders is consumption.
DoT decides not to scrap dual-technology telecom licences
A daily ceiling of Rs 3 translates into maximum annual penalty of Rs 1,095 for every subscriber.
As record stock market rally continues, the value of shares directly owned by next-generation business leaders at 20 major corporate houses has soared over 18 per cent to Rs 17,000 crore.
Growth in the eight core sectors jumped to 8.5% in April, due to a sharp pick-up in refinery products and a commensurate rise in electricity generation.
TRAI said that Internet service providers would not be allowed to discriminate on pricing of data access for different web services.
Spectrum auction took off on Wednesday from Rs 58,980.29 crore (Rs 589.80 billion) mark with demand for the premium 900 Mhz band seemingly tapering off at the end of 56 rounds.
IndiGo Airlines signs $2.6-billion leasing and financing MoU with Industrial and Commercial Bank of China.
Top 5 losers include Infosys, TCS, ITC, M&M and HUL.
The broader markets, however, outperformed their larger peers.
'If you look at voice and data realisations in India, they are the lowest in the world.'
The 4G service may use Reliance Retail, with a surging customer base, as the launch pad
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Prime Minister Narendra Modi, on his first trip to New York as leader of the world's most populous democracy, will draw perhaps the largest crowd ever by a foreign leader on US soil when he takes the stage on Sunday in Madison Square Garden before a crowd forecast to total more than 18,000 people.
Benchmark indices failed to sustain gains and retreated from day's high dragged primarily by the losses in metals, information technology and bank shares as investors started to book profits in late noon deals. Earlier, markets had scaled fresh all-time highs on the surprise post-budget rate cut by Reserve Bank of India (RBI). The 30-share Sensex ended down 213 points at 29,380 and the 50-share Nifty closed down 74 points at 8,922. Intra-day, Sensex reached the all-time high mark of 30,024.74 while Nifty touched the life-time high level of 9,119.20. In the broader market, both the BSE Midcap index and Smallcap indices, down 1% and 1.2% each underperformed the front-liners. Market breadth in BSE ended negative with 1,882 declines against 1,010 advances. A day after signing an agreement with Finance Ministry on inflation targeting, RBI surprised the markets with an early post-budget repo rate cut of 25 bps (basis points) to 7.5% from 7.75% which was again outside of central bank's scheduled policy review meetings as the earlier rate cut effected on January 15. "RBI's latest rate cut of 25 basis points, while a surprise in its timing is in-line with our expectations of a sharp rate-cutting cycle over the coming quarters. With inflation sustainably lower by 500bps, the RBI has in recent months acknowledged the scope for rate cuts and was only waiting for additional comfort that the government's fiscal policy would not play spoil-sport," said Dinesh Thakkar, chairman and managing director at Angel Broking in a note. Analysts at Karvy believe that further monetary policy action will depend on number of factors including easing of supply constraints, improved availability of power, land, minerals and infrastructure, fiscal consolidation, the pass through of rate cuts by banks and the expected monsoon. Citing weakness in some sectors of the economy and the overall global trend towards monetary easing as rationale for the rate cut the central bank also exuded confidence in the road map for fiscal consolidation as laid out in the Union Budget, 2015. Commenting on how the markets reacted to RBI's surprise move, K Subramanyam assistant vice-president (institutional research), Asit C. Mehta Securities said, "The unexpected cut did take the market by surprise .However, credit off-take is not dependant only on interest rates. A gradual revival in the economy would be of more help which would trigger credit off-take. Hopefully this will follow and RBI's action would prove helpful. From market point of view this is bullish as equity becomes more attractive vis-a-vis falling interest rates." On the macro-economic front, the HSBC services PMI rose to an eight-month high of 53.9 in February up from 52.4 in January indicating strong expansion in output across the sector. Respondents cited robust growth of new business as the principle factor for the increase in activity. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 773 crore on Tuesday, as per provisional data. Buzzing Stocks 9 out of the 12 sectoral indices of BSE ended in red. BSE Metal index, down 2.4% was the top loser followed by BSE Oil & Gas and Power indices, down 1.3% each. BSE Healthcare index, up 1.2% and BSE FMCG index, up 0.9% were the top losers. Bank stocks came under during late noon trades as traders booked profits at higher levels. However, RBI rate cut may encourage large lenders to cut their lending rates boosting demand for home and auto loans and provide funds for various stalled and new projects. Many stalled projects across the country are waiting for cash to restart work. The stock of stalled projects at the end of December 2014 stood at Rs 8.8 lakh crore or 7% of GDP. ICICI Bank ended down 0.1%, Axis Bank and SBI declined over 3% and HDFC Bank shed 1.5%. Sun Pharma gained over 6% on approval granted to Sun Pharma Advanced Research Company (SPARC) by US FDA for an antiepileptic drug. The product will be manufactured by Sun Pharmaceutical Industries at its Halol (Gujarat) facility in India. SPARC was formed in 2007 when Sun Pharma separated out its active projects in drug discovery and innovation into a new company. Dr Reddys Lab and Cipla have gained over 1% each. ITC gained over 1% after consecutive sessions of losses on the proposed larger-than-expected hike in excise duty on cigarettes in the Union Budget. The biggest ever auction of spectrum by the Department of Telecommunications (DoT) started on Wednesday in the morning where government expects to garner Rs 80,000-1lakh crore from the sale of spectrum. Idea Cellular gained over 2%, Reliance Communication gained around 1% and Bharti Airtel closed 0.5% higher. Metal stocks were under pressure in today's session. Hindalco declined over 3%, Sesa Sterliteended down over 4% and Tata Steel closed down 2%. Profit-taking in IT stocks led to Wipro losing around 1.8%, Infosys declining 0.7% and TCS losing 1.5%.
For 2100-MHz, 2300-MHz and 2500-MHz bands across circles; aim to offer these with 3G and 4G in February
After 3 weeks of consecutive rally, this week was a breather for the index, which corrected by almost 1.5%.
Sensex ends 134.91 pts down at 28,709.87; Nifty falls 44.70 pts at 8,712.05.
Sensex rises, Nifty holds 8,900; FMCG, Pharma shares lead.
Over 1,42,000 people have been rescued from the flood-ravaged parts of Jammu and Kashmir so far, as the relief operations launched by the Armed forces entered the 12th day on Saturday.
The 30-share Sensex ended down 414 points at 25,481 and the 50-share Nifty slipped 119 points at 7,603.
RCom is expected to have a 50% stake, Aircel 40% and MTS 10%
While lower gas output led to earnings cuts, price rises with regular ramp-ups in output will lead to earnings upgrades
After initial success, data use is stagnating and getting consumers to spend additional money for high-speed internet is proving to be difficult for telcos.
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