SBI was the top gainer in the Sensex pack, jumping around 3 per cent, followed by Kotak Bank, Axis Bank, Bajaj Auto, Tech Mahindra, UltraTech Cement and PowerGrid. NSE Nifty rose 36.40 points to 15,337.85.
TCS was the top gainer in the Sensex pack, rising around 4 per cent, followed by ONGC, ICICI Bank, HDFC Bank, Dr Reddy's, HDFC and HCL Tech. NSE Nifty advanced 76.65 points to 14,581.45.
It, however, remains to be seen how much money Softbank actually puts in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
India is ranked below Bhutan and Sri Lanka in terms of broadband penetration, says TRAI.
On the Sensex chart, Bajaj Finance, Bajaj Finserv, HCL Tech, Tech Mahindra, Infosys, HDFC Bank and ICICI Bank were among the prominent gainers.
FM has agreed to dump an ill-conceived plan to slap a retrospective 20% levy on overseas asset managers
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
The Sensex is on course to ending calendar year (CY) 2019 at a price-earnings (P/E) multiple of 29x, the highest in 25 years. Current valuations are, however, lower than those seen in the early 1990s. The Sensex has risen close to 14 per cent in the last 12 months, while the index underlying EPS dropped 6.7 per cent during the period.
Over the past one-and-half years, the number of stocks trading below their respective face value has increased 29 per cent after a sharp correction in stocks of small-cap companies.
Country accounts for 38% of telco's global user base, 10% of total revenue
As per the initial version of the Unified Licence on August 2, DoT had exempted Internet services revenue from adjusted gross revenue -- part of telecom company's earnings on which annual licence fee is levied.
Bajaj Finance was the top laggard in the Sensex pack, skidding over 2 per cent, followed by Kotak Bank, Nestle India, HDFC, M&M and ICICI Bank. ONGC was the top gainer, rallying around 8 per cent. NTPC, Asian Paints, Tech Mahindra, PowerGrid and IndusInd Bank were among the other winners.
The launch of Reliance Jio Infocomm Ltd last September, particularly the tariff war it has unleashed on its competitors, has deepened the crisis facing India's telecom sector. One offshoot of this is the major drop in earnings reported by industry leaders Bharti Airtel and Idea Cellular with each passing quarter. Aslam Hunani/Rediff.com tells the story in numbers.
The process of switching off the 3G network has already started with Kolkata in the recent-concluded June quarter. By September, the shutdown will be affected in 6-7 more circles and between December and March the entire 3G network would be shut down.
Benchmark stock indices Sensex and Nifty tumbled nearly 1 per cent on Wednesday due to profit booking in banking, financial and IT stocks after a recent rally. The 30-share BSE Sensex plunged 537.22 points or 0.94 per cent to end at 56,819.39 as 24 of its stocks declined. During the day, it tanked 772.57 points or 1.34 per cent to touch a low of 56,584.04. The broader NSE Nifty declined by 162.40 points or 0.94 per cent to 17,038.40 with 39 of its constituents ending in the red. Bajaj Finance was the biggest loser among Sensex stocks, dropping by 7.24 per cent.
According to the Icra report, earnings before interest, tax, depreciation and amortisation margin of its sample declined by 44 basis points on a YoY basis and 23 basis points on a quarter-on-quarter basis to 16.6 per cent.
A series of steps taken by the government to promote ease of doing business and liberalisation of foreign direct investment norms have helped India receive record FDI inflows so far this year, and implementation of measures like PM Gati Shakti, single window clearance and GIS-mapped land bank are expected to further push investments in 2022. Notwithstanding the global slowdown and the COVID-19 pandemic, total foreign direct investments into India rose to a record $81.72 billion in 2020-21. During April-July this fiscal, FDI (foreign direct investment) into the country increased by 62 per cent to $27.37 billion.
Together with its share buyback worth Rs 16,000 crore completed in January this year, TCS shareholders will receive a record Rs 30,250 crore from their company in FY21.
As per location-specific salary trends, IT capital Bangalore tops the chart as the highest paying city in the country, with an average annual CTC paid for talent across all levels and functions at Rs 14.6 lakh.
The Nifty Bank index has come off 15 per cent from its peak in February, underperforming the benchmark Nifty which is down 6%.
Chinese telcos hold 60-100 MHz of spectrum, while Indian companies hold 13-15 MHz of spectrum.
In the Sensex pack, Bharti Airtel was the top performer, surging 4.61%. Other gainers included ICICI Bank, IndusInd Bank, L&T, Sun Pharma, RIL, HDFC duo, Tata Motors and M&M -- climbing up to 3.69%.
The average estimate of 12 brokerage houses stands at Rs 6,994 crore for the June 2020 quarter. This is 30.8 per cent lower than the June 2019 quarter net profit of Rs 10,104 crore.
The strong correlation between its sales (revenue or turnover) and crude oil prices (average for the financial year) suggests that Ambani may be proved right.
The 24-hour delivery offer applies only to select postal codes and is not available across the country.
Telcos propose licence regime for apps like WhatsApp, Skype.
Reliance earned $11.50 for every barrel of crude that it processed during the last three months of the calendar year - almost 60 per cent more than a year earlier.
With telecom disruptor Reliance Jio not raising tariffs, incumbents Bharti Airtel and Vodafone Idea are focusing on the minimum monthly recharge and higher first recharge offers to ensure they retain only loyal and revenue-incremental subscribers, reports Romita Majumdar.
'In 2022, active management, long-short strategies, multi-asset strategies, and asset allocation strategies need to be considered to meet long-term investment goals.'
The optic fibre cable infra was with Jio Digital Fibre and the tower infra with Reliance Jio Infratel
The CAG report, tabled in Parliament, states the interest on the short payment stood at Rs 1,052.13 crore for the period up to March 2016.
The books of these companies had come under a cloud after it was alleged that many of them had not been paying the goverment's share of revenue by showing the revenue earned under other categories. Under a suggestion of the Telecom Regulatory Authority of India, a special audit of all the integrated telecom companies will be undertaken once in 3-5 years.
Reliance Industries Ltd on Thursday announced a Rs 75,000 crore investment in new energy business over the next three years as the operator of the world's largest oil refinery pivots towards a greener and cleaner version. Reliance will build solar manufacturing units, a battery factory for energy storage, a fuel cell-making plant and an electrolyzer unit to produce green hydrogen as a part of the business, chairman Mukesh Ambani said at the company's annual general meeting with shareholders on Thursday. It will also set up 100 gigawatts (GW) of solar power generation capacity by 2030 and invest in setting up a carbon fibre plant.
It is learnt that the defence ministry is refusing to let go of its 100 MHz spectrum, which was allotted earlier. In that case, the department of telecommunications (DoT) will be left with only 175 MW of 5G spectrum of the total 300 MHz.
What worked for Airtel was that its data traffic growth was 13 per cent sequentially and its average data usage was even higher than Jio's at 11.9 gigabyte per month per user.
'We are in the middle of an unprecedented SIP revolution.' 'Monthly inflow through SIPs will be Rs 15,000 crore to Rs 20,000 crore soon.' 'Traditional avenues of Indian savings like bank fixed deposits, gold or real estate are no longer attractive to invest.'
Says operating environment for Indian corporate sector has improved during FY15
Samsung's smartphone shipment to India may fall short of target by 4 million units in 2016, hit by global recall and halt in production of its flagship Note 7 smartphone, research firm CMR said on Friday.
Reliance was the top gainer in the Sensex pack, surging over 3 per cent, followed by ICICI Bank, Bharti Airtel, Dr Reddy, Maruti and ITC.
