Egom

The ETF, which is expected to hit the markets this month, would have a corpus of Rs 3,000 crore and will be used as a vehicle for government stake sale in major PSUs, including ONGC, IOC and Bhel.

EGoM to decide on IOC share sale price tomorrow

The government had offered a 10 per cent shareholding in IOC to ONGC and OIL at a discount of about 10 percent to the current price.

Telecom M&A guidelines within 10 days, says Telecom Secy

The much-awaited guidelines for mergers and acquisitions of telecom companies are expected to be in place within 10 days.

ONGC, Oil India seek to buy IOC stake at lower price

ONGC and Oil India (OIL) each want to buy a 5 percent stake in IOC from the government at the six-month average traded price and not at the current rate.

Trai recommends outright transfer of spectrum, bars leasing

Inter-ministerial panel Telecom Commission had in October given in-principle approval to spectrum trading and it was cleared by the Empowered Group of Ministers. Trai was then asked to provide detailed guidelines for trading.

Here are details of EGoM meet on telecom spectrum charges

Empowered group of ministers (EGoM) met to discuss telecom spectrum usage charges today. Reema Tendulkar of CNBC-TV18 has details of what it means for telecom companies.

Telecom EGoM caps new spectrum usage fee at 5%

The EGoM on telecom believes the move will benefit all telecom players as it will leave surplus cash in their hands to invest in new spectrum auction. However, rationalisation of SUC is likely to impact government revenue in the short-run.

IOC jumps 5% on EGoM nod for 10% stake sale

Oil Secretary Vivek Rae said there will be no lock-in period and both ONGC and OIL would be free to encash their shares anytime. "We had wanted that there should be no lock-in period (for selling off the shares) and I think the EGoM has agreed to this. And this meets our concern," Vasudeva said.

IOC divestment unlikely this fiscal; pricing decision eyed

The rift between the oil ministry and the finance ministry on Oil divestment is well known, and the impasse will affect the government's plan to close in on to the divestment target for this fiscal.

FM to convince EGoM on Thursday for IOC stake sale

The Finance Minister, in the EGoM tomorrow, will have to convince the oil minister as well as the company to come onboard for the issue because there is a huge divide between the finance ministry and the oil ministry.

Telecom Commission likely to meet on January 7

The views of TC will be sent to the Empowered Group of Ministers on telecom, headed by Finance Minister P Chidambaram, which will take a call on it.

Reliance Jio opposes proposal to change spectrum usage rate

The uniform SUC, if implemented as per recommendations made by Telecom Regulatory Authority of India, will provide relief for mobile operators such as Airtel, Vodafone and Idea, but will increase rates for broadband wireless access (BWA) spectrum holders like RJIL.

DoT reapproaches TRAI for views on CDMA spectrum base price

The Telecom Regulatory Authority of India in September did not favour auction of CDMA spectrum and recommended that the DoT should explore using part of these airwaves for E-GSM services.

Global mkts in red; will Nifty too continue its downslide?

Indian equity benchmarks on Tuesday snapped its three-day winning streak with the Sensex falling 43.09 points to close at 20,854.92 and the Nifty declining 16 points to hold the 6,200 level at 6,201.85.

EGoM approves M&A guidelines for telecom sector

The high-powered ministerial panel, which is headed by Finance Minister P Chidambaram, also cleared the sale of 403 MHz of spectrum in the 1800 MHz band, a source said.

EGoM to meet tomorrow evening to discuss telecom M&A rules

The high-powered ministerial panel was to discuss merger and acquisition (M&A) guidelines in the last meeting on November 22, but due to paucity of time the matter did not come up for discussion.

Will new spectrum sale lead to fresh legal battles?

Accepting the recommendations made by Bureaucrats at Sanchar Bhawan, the spectrum EGoM headed by finance minister P Chidambaram has fixed the reserve price for upcoming spectrum auction at Rs 1,765 crore per megahertz for 1800 MHz airwaves.

Spectrum auction: EGoM accepts Telecom Panel suggestions

Speaking to media after the EGoM meeting union telecom minister, Kapil Sibal said the government hopes to raise Rs 30,000-40,000 crore from one-time spectrum fee.

Spectrum EGoM meet on Friday will give roadmap for auctions

The EGoM will discuss the roadmap for the third round of spectrum auctions including the reserve price and the quantum of spectrum to be put on sale. The telecom commission has recommended a reserve price for two sets of airwaves used by GSM players like Airtel, Vodafone and Idea Cellular.

DoT for new penalty norms for telcos before new auction

The Department of Telecom wants to have a new and more rational approach to penalty norms for telecom operators before the commencement of next spectrum auction.

Telecom Commission to meet on Oct 3 on spectrum auction

After the Telecom Commission arrives at a conclusion, the views of the inter-ministerial panel will be placed before Empowered Group of Ministers on spectrum, headed by Finance Minister P Chidambaram.

Power stocks rally, BHEL up 7% on EGoM's UMPP norms

Out of the total, Reliance Power's (up 1.4 percent) Sasan project worth Rs 20,800 crore, JSPL's Angul (up 1.4 percent) power project worth Rs 9,121 crore, JP Venture's (down 1 percent) power project worth Rs 8,100 crore, Hindalco (up 1 percent) and NALCO's (up 5 percent) projects are also under consideration.

EGoM clears changes to bidding norms for thermal plants

An Empowered Group of Ministers (EGOM) headed by Defence Minister A K Antony today cleared the proposal of tweaking the standard bidding documents for implementing the new Case-II thermal power plants including the 4,000 MW ultra mega power projects (UMPPs).

EGoM on gas to meet on August 14 on power plant allocation

A ministerial panel may meet on August 14 to consider diverting a small volume of gas from non-priority users to fuel-starved generation plants.

EGoM to give no significant gas to power sector this fiscal

Over USD 21 billion powers plants being stranded for want of fuel notwithstanding, an Empowered Group of Ministers (EGoM) may not give any significant natural gas to the fuel-starved units till domestic production rises in 2016-17.