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Popular Articles

Corus may get the Tata tag next year
The Tatas are planning a new-look for their first prestigious acquisition Corus Steel next year, a move that coincides with the company emerging from the financial burdens and the global downturn.

MTNL takes franchise route to sell 3G services
State run Mahanagar Telephone Nigam (MTNL) has taken to the franchise route to sell its 3G services in Delhi and Mumbai and has floated a global Expression of Interest (EoI) for 3G Services Franchisee.

News of the day

Resistance seen around 5,200
The Nifty has pulled back from a low of 4,942 to above 5,100 with support from positive global cues and short-covering. The index today closed at 5,144. Technically, the V-shaped pullback should have halted at around 5,090, but excessive short-covering saw the index close at the 5,144 level. However, the December futures changed hands at the 5,096 level, indicating there were few takers at higher levels.
Online Business

3G: Fitch studying revenue impact on Bharti

Even as the government is gearing up to auction radio waves for the next generation mobile services, credit rating agency Fitch today said it is closely monitoring the impact of the cost for pan-India 3G licence on the revenues of Bharti Airtel. - Bharti Airtel: Not a value call - Bharti Airtel rejigs top management - Bharti to Buy 70% of Warid - Whose spectrum is it? - Whistling in the dark - Dhabi group rules out exiting Warid Telecom The agency is currently monitoring the negative impact on Bharti"s revenues stemming from the pending cost of 3G pan-India licence fees and its impact on its credit profile, Fitch said in a statement here today. It is also monitoring the impact of irrational pricing activity by the operators during October-December 2009, it added. Fitch, however, said Bharti"s acquisition of the Bangladesh operator Warid will not have an impact on the former"s ratings. Bharti Airtel had acquired 70 per cent stake in Bangladesh"s Warid Telecom for $300 million. Fitch has a long-term rating of "BBB-"with a stable outlook on Bharti, and notes that the incremental capex and Warid"s existing debt will not materially impact Bharti"s credit profile, Fitch said.


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