Videocon Industries has firmed up by 1.6% to Rs 187 on the BSE after announcing a collaboration with Huawei to launch the state-of-the-art 4G LTE-ready Packet Core technology in India.
This exclusive agreement incorporates the Evolved Packet Core (EPC) technology for the Core Network, in which Huawei is a recognized global leader. The EPC will be implemented to serve Videocon Telecom’s nation-wide data services rollout.
"Videocon Telecom is rolling out LTE-ready Packet Core network from Huawei in 6 telecom circles in India. This network will provide a larger data coverage and reduce the overall capex and opex leading to an improved profitability and lower costs to end users," Videocon Telecom's Director and CEO Arvind Bali said in a statement.
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Both companies had earlier run into a dispute over payments when Videocon Telecom lost its 21 licences along with 101 others after the Supreme Court judgement in February 2012. The issue has been now resolved amicably.
The stock opened at Rs 186, touched a high of Rs 189 and a low of Rs 186 on the BSE thus far. A total of 60,157 shares were traded on the BSE so far.