SENSEX NIFTY
Sep 08, 2006, 12.50 PM IST | Source: CNBC-TV18

Essar may not have to sell BPL after all

Essar may not have to sell BPL Communication, after all. CNBC-TV18 finds that the deal has been so structured that Essar can keep running it at least for a while without flouting any rules.

Essar may not have to sell BPL Communication, after all. CNBC-TV18 finds that the deal has been so structured that Essar can keep running it at least for a while without flouting any rules.

 

Essar is in no hurry to sell BPL mobile. And it is under no regulatory obligation to do so anyway. It has worked its way around the regulations.

 

Essar's telecom arm Essar Teleholdings holds only 9.9% in BPL directly.

Out of the rest, an investment company, Capital Global, holds 16.1% and BPL Communications holds 74%. Essar refused to divulge details about the shareholders of these companies.

 

The telecom policy states that a company cannot have stake in two competing ventures. But it can hold upto 9.9% in a second company that will be treated as a financial investment.

 

So Essar, which already has 33% in the Hutchison Essar joint venture, can hold 9.9% in BPL Communication.

 

 

Cont'd on page 2...

Birla Ericsson stock price

On September 18, 2014, at 15:22 hrs Birla Ericsson Opticals was quoting at Rs 69.00, up Rs 2.40, or 3.60 percent. The 52-week high of the share was Rs 82.80 and the 52-week low was Rs 11.25.


The company's trailing 12-month (TTM) EPS was at Rs 7.72 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 8.94. The latest book value of the company is Rs 25.99 per share. At current value, the price-to-book value of the company is 2.65.

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