Telecom major Bharti Airtel today claimed that more than 1.50 million customers from Aircel has joined its network taking the total to over 20 million customers in the Tamil Nadu.
Sudarshan Sukhani of s2analytics.com is of the view that one can sell Bosch and can buy Havells India, ITC and Maruti Suzuki and can hold Bharti Airtel.
The proceeds of the issue would be used for general corporate purpose including routine treasury activities and refinancing of existing debt and spectrum liabilities, the company said in a regulatory filing.
The board of the company approved "issuance of non-convertible debentures (NCDs) of up to Rs 10,000 crore on a private placement basis" and "issuance of foreign currency bonds up to a limit of USD 1 billion or equivalent in one or more tranches", Airtel said in a regulatory filing.
Airtel VoLTE, which works over 4G, will enable customers across the city to enjoy HD quality voice calls with faster call set up time, the company said in a statement.
The market breadth was in favour of the declines with 811 stocks advancing while 897 declined and 325 remained unchanged. On the other hand, in the BSE, 1223 stocks advanced and 1399 declined and 155 remained unchanged.
The Nifty50 futures on the Singapore Stock Exchange were trading 119 points higher at 10333 indicating a gap-up positive opening for the domestic market.
Telecom major Bharti Airtel plans to raise up to Rs 3,000 crore through non-convertible debentures for refinancing debt and meeting spectrum liabilities.
The top Sensex gainers were Videocon which jumped 5 percent followed by INOX Leisure, Vakrangee and Religare, each adding over 3 percent. IFCI added 2.8 percent in the morning trade.
The official said the Cabinet has approved the two key measures to facilitate investments and consolidation in the sector, which include restructuring of deferred payment liabilities of telecom service providers for spectrum and revision of limit of spectrum holding caps.
Airtel said that its board will meet to "consider inter-alia, enablement from board to opportunistically raise funds, including by issuance of secured/ unsecured, listed/unlisted, non-convertible debentures, bonds or such similar debt instrument (s) either denominated in Indian rupees or in foreign currency".
Sudarshan Sukhani of s2analytics.com is of the view that one can short Bharti Airtel, Godfrey Phillips and HPCL and can buy Indraprastha Gas and Sun TV Network.
At this juncture, the Nifty is broadly trading in a range of 10,600 – 10,640 on the higher side; whereas, the lower band is pegged near 10,300 - 10,275. And, either way, breakout or breakdown will dictate the near-term direction of the index," says Aditya Agarwal of Way2Wealth Brokers Pvt. Ltd.
Google had, in December last year, unveiled the Android Oreo Go edition for smartphones with 1GB RAM or less.
This cut in interest rate could be a way of keeping rates competitive.
The global partnership Seamless Alliance, whose other founding members include OneWeb, Airbus, Delta and Sprint, will work towards leveraging satellite technology to offer high-speed data connectivity to mobile users even when they are up in the air, an Airtel statement said.
Mitessh Thakkar of miteshthacker.com suggests buying Bharti Airtel, CESC, Tata Elxsi and Engineers India.
Sudarshan Sukhani of s2analytics.com is of the view that one can sell L&T, ICICI Bank, Bharti Airtel, Capital First and HPCL and can buy JSW Steel and Escorts.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Bata India, Cipla, Hindustan Unilever and Tata Elxsi and can sell Bharti Airtel.
Bharti Airtel, Vodafone India and Idea Cellular are working with handset companies to make cheaper 4G smartphones costing as low as Rs 500 effectively.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Tata Global Beverage and KPIT Technologies and can sell Bharti Airtel, IRB Infra and Reliance Infrastructure.
Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy Ashok Leyland and can sell Fortis Healthcare.
The top Sensex gainers included Bombay Dyeing which zoomed 17 percent followed by PC Jeweller adding 14 percent. Polaris, Kadico Khaitan and Firstsource Solutions were the other gainers.
Singtel currently holds 47.17 percent stake in Bharti Telecom while Bharti Enterprises continues to hold over 50 percent stake in Bharti Telecom, it said.
"Airtel Limited...announced that Singapore Telecommunications Limited (Singtel)... will invest Rs 2,649 crore in Bharti Telecom Limited (Bharti Telecom), the promoter company of Airtel through preferential allotment of shares," Bharti Airtel said in a statement.