BSNL-MTNL merger: Cabinet to take a call on government’s plan
Posted on 31st July 2019 |
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| The government is working on a plan to merge state-run BSNL and MTNL as part of strategy to revive the ailing telecom companies. The Union Cabinet is expected to take a final call on the matter. According to sources, the merger plan is one of the many components of the revival package, which also includes reducing retirement age from 60 to 58, asset monetisation and allocation of 4G spectrum. As per an official in the department of telecommunications (DoT), the merger is one of the many components of the overall revival plan as MTNL cannot stand by itself. It is yet to be decided if MTNL will be delisted from the stock exchanges and then merged or will it be just made a subsidiary of BSNL while it continues to be listed. “Finally, the Cabinet has to take a view on that,” the official said. MTNL provides telephony services in Delhi and Mumbai, and BSNL is present in the rest of the circles. At present, MTNL is a listed company while BSNL is not. It must be mentioned that the idea to merge BSNL and MTNL has come up several times in the past. However, as per DoT officials, the idea was never given shape because of the issues related to salary parity of employees and other operational inefficiencies in the merger. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale
Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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