Telecom Sector: Tata Tele adds 3.42m net-adds vs.2.25m in July, The increase is driven by GSM launch in new circles and aggressive tariff strategy—‘per second billing’ in GSM and ‘pay per call’ in CDMA. The entry of DoCoMo into India after buying stake in TTML is working like magic for TATA TELE. This has triggered tariff war with BHARTIARTL said it would charge 50 paise per minute for local and national calls on its network, heating up competition in a market that already has some of the world’s cheapest tariffs. When "Lifetime prepaid" was started in India, nobody thought today all service providers may have to provide it but who knows if this "per second billing" also gets that way that all have to implement it this day or the other.
TATATELE adds 22.6% of the total August month net addition and BHARTI added 18.7% growth of TATATELE would put pressure on margin as already Vodafone offers Rs0.50/min ‘regional’ NLD tariffs for Rs35 monthly payment.
TATATELE (9.5%market share) aggressive growth can make them overtake IDEA which has 11.1% and BSNL which has 11.6% market share in months to come to become 4largest telecom operator.
Index is @ 16month high while Telecom stocks IDEA/BHARTIARTL/RCOM are underperforming the general market and IDEA is looking the weakest of all Rs.74.50 below caution is advised in the stock.
IDEA(Rs.76.75)
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India's Forex reserves rose to $280.978 billion as on Sept. 11 from $277.649 billion a week earlier, RBI said in its weekly statistical supplement on Friday.
The International Monetary Fund has said that its executive board has endorsed the sale of 403 tonnes of gold, valued at about $13 billion, to increase the institution’s lending capacity to poor countries
Reliance Industries mulling bid for all or part assets of LyondellBasell , Reliance Industries could make cash payment of $3.25 billion to LyondellBasell vendors - CNBC-TV18 http://www.moneycontrol.com/
Orchid Chemicals said Adurjee & Bros Pvt. Ltd. has raised its stake in the drug maker by 3.59% to 10.35%.
Aurobindo Pharma said it received tentative U.S. Food and Drug Administration approval to sell three drugs in the U.S.
Natco Pharma Launches Swine Flu Medicine; Natflu Priced At Max INR480/Bottle Of 10 Capsules.
Tata Motors: To Launch Electric Indica Car In Europe This Yr; To Spend GBP25 Mln To Develop it; its European Technical Center Gets GBP10 Mln Loan
Axis Bank has raised $720 million through a sale of shares to institutions and an issue of global depositary receipts on strong demand from European and U.S. investors, two banking sources said on Friday.
The IPO of private ship-builder Pipavav Shipyard got subscribed 8.24 times till the final day on Friday, getting a strong response from investors.
Dr Reddy’s Laboratories Ltd jumped to a 3-1/2-year high on Friday on a report GlaxoSmithKline was in talks to buy a 5% stake in the drug maker in a $150 million deal.
Tata Motors said its wholly-owned European subsidiary, Tata Motors European Technical Centre, has got a loan of £10 million (Rs78 crore) from the UK government for its Rs195 crore electric car project.
BHARTIARTL said it would charge 50 paise per minute for local and national calls on its network, heating up competition in a market that already has some of the world’s cheapest tariffs.
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U.S Bank failures now at 94 in 2009, FDIC sets up deal for Irwin banks in Indiana, Kentucky.
U.S. stocks on Friday finished higher completing a second consecutive week of gains, with the major indexes up more than 2% from last Friday's close, Bolstered by hope for a global economic recovery.
