Everyone knows that industry consolidation leads to improved shareholder returns. India's mobile market may be the exception. Revocation of 2G licences and now a change in M&A rules are expected to force a long-awaited deal frenzy in this challenging sector.
The BSE Sensex edged 0.14 percent higher after a choppy trading session on Monday, as hopes of stability in Greece improved global risk appetite and offset weak corporate earnings at home. Hopes of Greek austerity deal boosted the market.
The BSE Sensex dropped 0.4 percent on Thursday on concerns about earnings outlook and investors took profits after the main index rallied 15 percent over the past five weeks.
The BSE Sensex ended 0.5 percent higher on Wednesday, helped by a rally in software stocks including Tata Consultancy Services (TCS.NS) and Infosys Technologies (INFY.NS) and gains in index heavyweight Reliance Industries.
The BSE Sensex climbed 0.7 percent on Wednesday, led by energy conglomerate Reliance Industries and software services exporters Infosys and Tata Consultancy Services.
The continuing decline in earnings has mainly been attributed to currency fluctuations and the rising interest costs. Also, all the major mobile phone service providers in the country are engaged in a bitter tariff war.
The BSE Sensex snapped a five-day rally on Tuesday as investors locked in profits after the government forecast growth may dip below 7 percent, the slowest pace since the 2008 financial crisis.
The BSE Sensex was subdued on Friday as some profit-taking emerged after the index rose more than 3 percent in the last three sessions, and as weak Asian markets ahead of key U.S. jobs data dented investor sentiment.
The Supreme Court on Thursday revoked all 122 telecoms licences issued under a scandal-tainted 2008 sale, a fresh embarrassment for the government and plunging the mobile network market of Asia's third-largest economy into uncertainty.
The BSE Sensex rose for a third straight session, inching up 0.08 percent on Monday, helped by financials while a decline in Reliance Industries (RELI.NS), which reported its first quarterly profit fall in two years, capped the index gains.
The telecoms ministry will tell carriers that they will not be allowed to offer third-generation (3G) services through roaming agreements with one another in zones where they do not have their own 3G airwaves.
India's power, telecoms and aviation sectors, core to sustaining the country's growth, are in various states of crisis. This crisis may force the government to bring about reforms.
The BSE Sensex Thursday gained 2.70 percent on hopes for a surge in foreign fund inflows after the world's six major central banks moved to tame a liquidity crunch for European banks.2
Reliance Industries and Bharti Enterprises have agreed to end negotiations over the sale of the latter’s stakes in two insurance services firms, set up in a joint venture, with France’s AXA.
The Central Bureau of Investigation (CBI) on Saturday conducted searches at Vodafone's Indian unit and Bharti Airtel's offices seeking details on spectrum allocation by the government.
Vodafone India, buffeted by brutal competition and regulatory woes, expects a shakeout within two years.
Videocon Industries is looking to sell a 25 percent stake in its direct-to-home broadcast services business for roughly $75 million to $100 million.
India's top mobile phone carrier Bharti Airtel on Friday reported a bigger-than-expected 38 percent fall in fiscal second-quarter profit, its seventh straight quarterly profit drop, hit by higher interest costs and foreign exchange losses.
India has the highest percentage share of family businesses in Asia, accounting for 67 percent of total listed companies with market capitalisation of more than $50 million.
Internet giant Google expects India's Internet growth to be driven by mobile users, predicting that they will form the majority of new Internet users in the country as low-priced smartphones become available.
Being politically connected isn't what it used to be for corporate India.
Apple has come under the scanner of Competition Commission of India (CCI) following a complaint filed by an user against the company for following anti-competitive practices in selling its products and for abusing its dominant position in the market.
