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Tata Motors reports nearly INR 428 crore loss in net profit for second quarter of FY 015-16
2015-11-08 08:00:29| Automakers - Topix.net
Homegrown auto major Tata Motors has reported a consolidated net loss of INR 427.79 crore due to poor domestic performance and Jaguar Land Rover 's weaker sales in China, foreign exchange revaluation and higher depreciation and amortisation expenses in the British arm. The company had reported a consolidated net profit of INR 3,290.86 crore in the same quarter of the previous fiscal.
NTT Com to invest INR 10 bln in India
2015-11-01 13:33:00| Telecompaper Headlines
(Telecompaper) NTT Communications (NTT Com), the ICT services and international communications business within NTT, plans to invest around INR 10 billion in India over the next three years, NTT Com's CEO Tetsuya Shoji told ET. The company has applied for a national long-distance licence and is currently expanding its data business in India. NTT Com needs the long-distance licence to interconnect its data centres and client locations via optical fibre cables.
ATC to buy 51% in Indian towers operator Viom for INR 76 bln
2015-10-21 14:39:00| Telecompaper Headlines
(Telecompaper) American Tower Corporation confirmed an agreement to buy a 51 percent stake in Indian towers operator Viom Networks for INR 76 billion (EUR 1 billion) from mobile operator Tata Teleservices and SREI Infrastructure Finance. The agreement includes conditions for ATC to buy the remaining 49 percent held by Tata Teleservices, Macquarie SBI Infrastructure Investments, SBI Macquarie Infrastructure Trust and IDFC Private Equity Fund. After completing the takeover, American Tower will merge its existing Indian portfolio of approximately 14,000 towers with Viom, which operates around 42,200 towers and 200 DAS in India. Started as a joint venture by Tata with local investors, Viom now serves nearly all of India's major mobile operators. The company generated INR 50 billion in rental and management revenue and INR 21 billion in gross profit in the three months to June 2015. Viom had INR 58 billion of debt at the end of September.
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Indian Navys first indigenously built INR Vikrant aircraft carrier undocked
2015-06-12 01:00:00| Naval Technology
India has undocked its first indigenously built Vikrant-class aircraft carrier, INS Vikrant, at the Cochin shipyard (CSL) in Kochi, Kerala, India.
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India raises INR 1.1 trillion in 19-day spectrum auction
2015-03-26 08:10:00| Telecompaper Headlines
(Telecompaper) The Indian government received provisional bids worth almost INR 1.10 trillion (approximately USD 17.6 billion) at the end of 110 rounds of bidding in the latest spectrum auction, the telecom minister Ravi Shankar Prasad said. The government initially expected to raise around INR 820 billion in this spectrum auction. The government did not disclose winning bidders and the regions in which they had won spectrum, but the country's top operators -- Bharti Airtel, Vodafone India and Idea Cellular -- are expected to have bought the major chunk of the 20-year licences on offer, Reuters reports. Eight mobile operators bid for a total of 465 MHz of spectrum across four bands. The government offered 103.75 MHz in the 800 MHz band, 177.8 MHz in the 900 MHz band, 99.2 MHz in the 1,800 MHz band and 85 MHz in the 2,100 MHz band.
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