Telecom Industry
Profit booking subdues indices; telecom stocks down
Profit booking subdued India's key equity indices "S&P BSE Sensex and NSE Nifty50" during Friday's post-noon trade session. Accordingly, the recent upsurges in the market triggered a bout of profit booking.Amongst sectors, Metals, Capital Goods have risen the most, while Telecom and Healthcare have lost the most.
Ericsson to acquire global Cloud firm Vonage for $6.2 bn
The Cloud-based Vonage Communications Platform (VCP) -- accounting for approximately 80 per cent of Vonage's current revenues -- serves over 1,20,000 customers and more than one million registered developers globally. The merger agreement is expected to complete in the first half of 2022, the company said in a statement.
Cabinet approves telecom infra plan for over 7K aspirational villages
Accordingly, the Central government aims to cover 7,287 "uncovered villages" of 44 aspirational districts with 4G services, with an estimated cost of about Rs 6,466 crore. The estimated outlay also includes operational expenses for five years.
Bharti Airtel posts 13% rise in quarterly revenue
The company on Tuesday said that its net profit for the July-September quarter of FY22 stood at Rs 1,134 crore, compared with a net loss of Rs 763 crore in the same period of previous year. Profit from its mobile services in India more than doubled to Rs 1,612.5 crore from Rs 685 crore a year earlier, and profit from its mobile services in Africa increased 40 per cent to Rs 2,809 crore.
Telecom reforms: DoT lowers bank guarantee for telcos
The cabinet last month approved a relief package for the telecom sector that includes a four-year moratorium on payment of statutory dues by telecom companies as well as allowing 100 per cent foreign investment through the automatic route. As part of the measures, it also proposed reduction of bank guarantee requirement of telcos by 80 per cent.
Centre notifies 100% FDI in telecom sector via automatic route
Accordingly, Department for Promotion of Industry and Internal Trade, via 'Press Note No 4 (2021 Series)' said the Centre reviewed the extant of FDI policy on telecom sector and made amendment under the Consolidated FDI Policy Circular of 2020. Under the amendment, 100 per cent FDI via the automatic route will be allowed into telecom services including telecom infrastructure providers 'Category-I'.
Relief for telcos as DoT willing to review appeal in one-time spectrum charge case
In a short affidavit, the Department of Telecommunication (DoT) under the Ministry of Communication, said the amount involved, which is the subject matter of adjudication, would be imposition of financial liability on various telecom service providers (TSPs)to the tune of Rs 40,000 crore approximately.
Tejas Network set to become India's own Huawei, bags Airtel order for optical network expansion
Tejas Networks on Friday announced that telecom giant Bharti Airtel chose Tejas to expand Airtel’s optical network in key metropolitan cities. In a statement, Airtel said that the tie-up with Tejas networks comes as a part of the 5G roadmap that the telecom giant is planning for India.
Data Led: Telecom players' ARPU to grow even without tariffs hikes
As per India Ratings and Research (Ind-Ra): "The sliding voice tariffs, growing data tariffs, increasing data usage per subscriber and increasing data subscribers in the overall subscriber base over the last one year indicate that the average revenue per user of the industry could grow even without tariffs hikes."
Industry hails 'path breaking' telecom reforms
Cellular Operators Association of India Director General S.P. Kochhar said the measures show the government's intent for the much-needed structural reforms in the telecommunications sector, in scripting the success of Digital India, and in accelerating the journey to meet Digital India goals which will ultimately deliver ample benefit to the individual consumers.
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