Month: August 2009

Enough 3G spectrum for 3 Operators – DoT

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With enough spectrum available with the Department of Telecom (DoT), the release of frequencies by the Defence Ministry for auctioning 3G radio waves is not needed at present. DoT has currently an adequate amount to give the initial 5Mhz of spectrum to at least three players in a circle, according to government sources.

Barring Rajasthan on absence of 3G radio waves, the DoT has 3G spectrum available in different amounts in various circles and hence, spectrum availability does not stand as a deterrent to the auction process. To top it up, any release by defence ministry would be treated as an additional gain, which will help in giving spectrum to more players.

Read moreEnough 3G spectrum for 3 Operators – DoT

FIIs net sell of Rs 126 cr (prov) in the cash segment on Friday

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Foreign institutional investors (FIIs) were net sellers of Rs 126.10 crore (provisional) in the cash segment on Friday, as per information posted on the BSE website. While FIIs made gross purchases of Rs 1,535.22 crore, their gross sales amounted to Rs 1,661.32 crore. Domestic institutional investors (DIIs) were net buyers of Rs 443.74 crore (provisional) … Read more FIIs net sell of Rs 126 cr (prov) in the cash segment on Friday

Falling consumer sentiment Pulls down American Markets & Indian GDRS

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The US markets finally gave up on Friday after the Reuters/University of Michigan index of consumer sentiment fell significantly short of expectations for the first part of August. The weak consumer sentiment data fueled concerns about the strength of an economic recovery and the major indices declined by about 1%. Stocks fell across the board, with the biggest losses among financial, energy and material companies – industries that posted some of the biggest gains in recent days. Investors also sold off oil and other commodities and moved their money into the relative safety of the dollar and government bonds.

Read moreFalling consumer sentiment Pulls down American Markets & Indian GDRS

Everonn Systems bags order worth Rs 91.87 cr

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Everonn Systems India has bagged an Rs 91.87 crores order from Government of Uttar Pradesh for implementation of Computer Education in 1099 Middle Schools in Uttar Pradesh for a period of 6 years. The project will be developed on BOOT model, covering over 6,60,000 students of classes 6th to 12th. The company has received letter … Read more Everonn Systems bags order worth Rs 91.87 cr

FIIs net sellers of Rs 177.47 cr (prov) in the cash segment on Tuesday

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Foreign institutional investors (FIIs) were net sellers of Rs 177.47 crore (provisional) in the cash segment on Tuesday, according to information available on the BSE website. While FIIs made gross purchases of Rs 2,191.36 crore, their gross sales stood at Rs 2,368.83 crore.

On the other hand, domestic institutional investors (DIIs) were net buyers of Rs 628.87 crore (provisional) on the same day. While DIIs made gross purchases of Rs 1,451.61 crore, their gross sales aggregated Rs 822.74 crore.

Read moreFIIs net sellers of Rs 177.47 cr (prov) in the cash segment on Tuesday

FICCI asks government loose money policy – Don’t you want Free Money ?

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Federation of Indian Chambers of Commerce and Industry (FICCI) has urged the government to take steps to bring down the rate of interest in the country. A delegation of industry representatives in this regard met Prime Minister Manmohan Singh on Tuesday and suggested that lower interest rates were necessary for a quick revival of the economy.

FICCI contends that although public sector banks have reduced interest rates, their private counterparts were still to follow suit. The Federation believes that keeping the rates low was necessary in the current circumstances to push induced investment in the economy.

Read moreFICCI asks government loose money policy – Don’t you want Free Money ?