Government seeks bids to sell it entire 26.12 per cent stake in Tata Communications
The government is reportedly planning to sell its entire 26.12 per cent stake in Tata...
Read MoreCategory: Finance News
STL delivers a strong third quarter with continued QoQ growth
STL has announced the financial results for the third quarter ended December 31, 2020. STL recorded revenues of Rs 13.14 billion, demonstrating growth compared to last year and the preceding quarter. The outlook for 2021 looks...
Read MoreTata Communications recorded PAT of Rs 3.09 billion during Q3 FY2021, observing YoY growth of 428 per cent
Tata Communications has announced its financial results for the quarter ended December 31, 2020. Highlights|Q3 FY2021 Consolidated financial highlights Consolidated revenue was at Rs 42.23 billion; flat YoY, growth in data...
Read MoreBharti Hexacom reportedly raising up to Rs 15 billion through local bonds
Bharti Hexacom, a subsidiary of Bharti Airtel, is reportedly raising up to Rs 15 billion through local bonds. According to industry sources, the bonds will likely offer 6 per cent with three-year maturity. The papers will mature...
Read MoreAirtel planning to raise $1 billion via perpetual bonds
Bharti Airtel is reportedly planning to raise $1 billion with an offer of perpetual bonds- securities with no maturity date for investors. To this end, the telco is believed to have sounded various MNC banks regarding the plan...
Read MoreBharti Group-backed OneWeb raises funds from SoftBank Group and Hughes
Bharti Group-backed OneWeb has received additional funding from SoftBank Group and Hughes Network...
Read MoreDoT expects to collect around Rs 400 billion from telecommunications sector this fiscal, say reports
According to industry sources, the government expects to collect around Rs 400 billion from...
Read MoreHFCL records a YoY increase of 87 per cent in consolidated net profit during Q3FY21
HFCL Ltd has announced its financial results for Q3FY21. The company’s consolidated net profit increased from Rs 455.8 million in the quarter ended December 2019 to Rs 851 million in the quarter ended December 2020, recording a...
Read MoreBSNL and MTNL become EBIDTA positive during first half of FY 2020-21, says government
According to the Ministry of Communications (MoC), Bharat Sanchar Nigam Limited (BSNL) and...
Read MoreMicron Technology reports results for the first quarter of FY 2021
Micron Technology has announced results for its first quarter of fiscal 2021, which ended December 3, 2020. Fiscal Q1 2021 highlights Revenue of $5.77 billion versus $6.06 billion for the prior quarter and $5.14 billion for the...
Read MoreSale of MTNL’s 21 land assets stalled as DoT refuses to give up funds
As per industry sources, the sale of Mahanagar Telephone Nigam Limited’s (MTNL) 21 land assets has been stalled as the Department of Telecommunications (DoT) is unwilling to part with the funds garnered, as mandated by the Delhi...
Read MoreApax Partners buys 3i Infotech’s software product business for Rs 10 billion
3i Infotech Limited has entered into a definitive agreement to sell its Software Products business to funds advised by Apax Partners, for a total consideration of Rs 10 billion. The Software Products business will be acquired by...
Read MoreTata Communications acquires majority stake in France-based eSIM firm Oasis Smart SIM
Tata Communications has acquired a majority stake of 58.1 per cent in Oasis Smart SIM Europe SAS (Oasis), a France-headquartered embedded-SIM (eSIM) technology provider. Oasis develops and provides advanced technologies and...
Read MoreCiena reports fiscal fourth quarter 2020 and year-end financial results
Ciena has announced unaudited financial results for its fiscal fourth quarter and year ended October 31, 2020. Q4 Revenue: $828.5 million Q4 net income per share: $0.42 GAAP; $0.60 adjusted (non-GAAP), increasing 3.4 per cent...
Read MoreMTNL to seek shareholders’ approval for raising Rs 21.38 billion as part of sovereign guarantee bond
MTNL is reportedly planning to seek shareholders’ approval to raise Rs 21.38 billion as part of sovereign guarantee bond. MTNL has said that it will do so during its annual general meeting (AGM) scheduled for December 31,...
Read MoreRIL’s unit may need to pay upto Rs 49.75 billion to take over Reliance Infratel
Reliance Digital Platform and Project Services, a subsidiary of Reliance Industries Limited (RIL) may have to pay to Rs 49.75 billion to take over Reliance Infratel as per the order of the National Company Law Tribunal (NCLT)...
Read MoreFDI equity inflow in the Indian telecom industry fell by 99.8 per cent YoY in H1FY21, says CARE ratings
According to a recent study by CARE Ratings, foreign direct investment (FDI) equity inflow in the Indian telecommunications industry plunged sharply from Rs 148.99 billion during April-September 2019 to Rs 500 million during...
Read MoreNCLT approves Reliance Infratel’s resolution plan; Jio to acquire tower and fibre assets
The National Company Law Tribunal (NCLT) has given its approval to Reliance Infratel’s resolution plan. Consequently, Reliance Jio can now acquire the tower and fibre assets of the bankrupt company. As per industry sources, the...
Read MoreJio leads funding round in AR gaming company Krikey
Reliance Jio has led the Series A funding round for Krikey, an augmented reality (AR) mobile gaming company which has launched its application with Jio in India. With this round, the total funding in Krikey reached $22 million....
Read MoreBharti Airtel purchases another 4.9 per cent stake in Bharti Infratel for over Rs 31.5 billion
Bharti Airtel has reportedly purchased an additional 4.9 per cent stake in Bharti Infratel via open market block deals. The telco bought the aforementioned stake in the company for around Rs 31.5 billion- Rs 33 billion. Prior to...
Read MoreGovernment approves FDI infusion worth Rs 24.8 billion in ATC Telecom
The government has given its nod to the infusion of foreign direct investment worth Rs 24.8 billion in ATC Telecom. ATC Asia Pacific is reportedly investing this amount for about 12 per cent share in the stock of ATC Telecom....
Read More