In another failed attempt at recovering money from beleaguered businessman Vijay Mallya through sale of his assets, a lone bidder turned up for the auction of his personal jet with a bid of Rs 1.09 crore, less a percent of Rs 152 crore reserve price.
The auction process will start after Trai presents its view on the reserve price. According to a senior Trai official, the recommendations will be out next week, and in case the Department of Telecom (DoT) needs some clarifications, it will be submitted in 3-4 days.
NTPC cut back on buying costlier imported coal as well as augmented domestic supplies to reduce fuel cost, chairman of the country's largest power generator A K Jha said.
State governments have been empowered to conduct the auction. They will identify and demarcate areas for minerals auction. This will entail two rounds of minerals auction - technical and financial round.
Now that telcos have secured spectrum for 20 years, albeit at a higher price, tariffs may rise and fundamentals may improve for the telecom sector, UBS telecom analyst Suresh Mahadevan says. Telecom shares too may rally.
The government has allocated spectrum to bidders of approximately Rs 92,200 crore till now, with majority of service areas going at a premium to reserve price.
The reserve price for 800 MHz is at Rs 3646 crore pan-India per MHz and for 900 MHz at Rs 3980 per band pan India excluding Delhi, Mumbai, Kolkatta, J&K.
Telecom stocks in stress; high bid prices seen for 900MHz
It is day 7 of spectrum auctions and total bid value has exceeded Rs 56,000 crore. In some circles the bid prices have risen to two-three times the reserve price. The auction started with expectations of rational bidding and seems to have now become a potential case of winner's curse? CNBC-TV18‘sSajeet Manghat and Reema Tendulkar analyse it.
UBS AG's Suresh Mahadevan is hopeful that the upcoming auctions in December-January will go through smoothly. However, he says that Wednesday's announcements from the Telecom Commission were not very material.
Trai, in its recommendations, says there will be no reservation of spectrum for the renewal of Licencees in the 900 megahertz (MHz) or the 1,800 MHz band. No priority will be accorded to these Licencees in the bidding process and all bidders should be treated alike.
The Cabinet approved a 30 percent cut in the reserve price of mobile phone airwaves in four telecommunication zones, a minister said on Thursday, after carriers shunned last month's auction in those zones saying the prices were too high.
Even as the EGoM has decided to reduce the reserve price of spectrum in four circles by 30 percent, the telecom industry continues to seek a further reduction in spectrum reserve prices. CNBC-TV18's Malvika Jain dials in various operators to find out their views on the next round of spectrum auctions.
In an interview to CNBC-TV18, Ashok Sud, secretary general, Association of Unified Telecom Service Providers of India (AUSPI) says the reason CDMA as a technology hasn‘t doen well is due to the lack of large enough ecosystem available worldwide.
The auction of 54 coal blocks may get delayed as Crisil appointed to suggest methodology for fixing reserve price for mines has recommended to the government that mines be put on offer only after they are fully explored and the geological report is obtained.
State-owned Coal India (CIL), like any other bidder will have to pay the reserve price for 116 blocks alloted to it in May 2012, the government has said.
Gopal Jain, senior advocate, Supreme Court, says that what is surprising is that the government is claiming that it has now liberalized spectrum. In 2009, the TDSAT ruled on this in favor of the government when they introduced the crossover or dual use of spectrum saying that it was already technology as well as service neutrality.
SP Tulsian tells us how the telecom sector will behave after the fixation of reserve spectrum price.
A panel of experts consisting of analysts and telecom experts explain to CNBC-TV18, among various aspects of the announcement of the reserve price, that the price is too high and that the auction maybe subdued.
The Cabinet is likely to discuss tomorrow the reserve price and usage charges of spectrum that is to be auctioned as per the Supreme Court order.
A high powered ministerial panel headed by Home Minister P Chidambaram today decided the final call on issues like reserve price, spectrum usage charge and terms of payment will be taken by the Cabinet.
COAI's Rajan S Mathew and AUSPI's SC Khanna discuss the implications of meeting of the empowered group of ministers on Tuesday in a panel discussion on CNBC-TV18.
"I think it would be premature to comment on the reserve price just 48 hours after we received the recommendations," says Union telecom secretary R Chandrashekhar. He also explains that the 2G auction reserve price should not be looked at in isolation
Telecom regulator TRAI has recommended a reserve price for 800 Mhz (used for CDMA service) and 900 MHz bands (used for GSM service) at least 2 times higher than that of minimum price for 1800 MHz band
TRAI has set 2G spectrum auction reserve price. The reserve price of 1.08x of 3G reserve price of Rs 3,500 crore, reports CNBC-TV18, quoting sources.