Telcos fight shifts to 500 mn feature phone customers

Telcos owe govt Rs 54,828 cr in licence, spectrum fee: Ravi Shankar Prasad

Latest News – After slugging it out in metros and big cities, the fight for customers among operators has now shifted to rural and small towns as telecoms target to get a pie of the 500 million strong customer base, which currently uses feature phones but aspires to own a smartphone.

Reliance Jio was the first one to tap the feature phone customer base with the launch of Rs 1,500 4G-enabled feature phone in July this year. The Mukesh Ambani-owned company, which had already (Read More)

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TeamLease to buy Evolve Technologies for telecom sector hiring

Telecom, Towers, Mobile, Trai, IUC

Latest News – Staffing agency TeamLease said it would acquire 100 stake in Evolve Technologies and Services Pvt Ltd to make an inroad into telecom sector hiring.

“The transaction, which will be immediately accretive to TeamLease’s earnings per share, will be financed through existing financial resources,” said the company in a filing to the National Stock Exchange.

After the acquisition, Evolve will continue to operate as a separate and independent entity (Read More)

HCL Technologies shareholders approve Shiv Nadar’s reappointment as MD

Shiv Nadar

Latest News – Shareholders of HCL Technologies have approved the re-appointment of Shiv Nadar as the Managing Director of the company for 5 years, up to January 2022, the software services firm today said.

Nadar will be eligible for salary, perquisites and allowances of Rs 5 crore per annum along with other benefits, HCL Technologies said in a BSE filing on the outcome of the company’s Annual General Meeting held on September 21.

As many as 95.93 per cent of the total votes cast were in favour of the special resolution on (Read More)

Bharti Airtel shares continue to move up, jump over 5%

Airtel

Latest News – Shares of Bharti Airtel continued to rally for the second straight session today, gaining over 5 per cent as the company announced acquisition of Tata group’s loss-making mobile telephony business, almost for free, boosting its spectrum holding and user base.

The stock advanced by 4.96 per cent to settle at Rs 453 on BSE. During the day, it jumped 5.97 per cent to Rs 457.40 — its 52-week high.

On NSE, shares of the company climbed (Read More)

Godrej Agrovet makes strong debut on bourses, shares jump 37%

Godrej Agrovet bets on Astec, innovation to improve topline

Latest News – Animal feed producer Godrej Agrovet Ltd’s shares surged as much as 37 percent on market debut on Monday after an initial public offering of about $179 million.

Godrej Agrovet stock jumped to as much as 630 rupees from its IPO price of 460 rupees after raising 11.6 billion rupees in the IPO that was subscribed over 95 times earlier this month.

Analysts at Angel Broking have given the stock a “subscribe” rating, considering the company’s diversified business profile, decent margins, (Read More)