Telecom stocks will be in focus after the Telecom Regulatory Authority of India (TRAI) yesterday, 9 April 2015, reduced ceiling tariffs for national roaming calls and SMS and has mandated telecom service providers (TSPs) to offer a special roaming tariff plan. These changes will come into effect from the 1 May 2015.
Through this amendment order, the Authority has removed the existing mandate to the TSPs for providing RTP and RTP-FR and has mandated the TSPs to offer a Special Roaming Tariff Plan to its pre-paid and post-paid subscribers. In Special Roaming Tariff Plan, incoming voice calls while on national roaming shall be free, on payment of fixed charge, if any. All subscribers will benefit from the reduced ceilings; competitive pricing below the new ceiling levels is expected.
CMC's consolidated net profit fell 2.13% to Rs 70.58 crore on 4.75% rise in total income to Rs 670.71 crore in Q4 March 2015 over Q3 December 2014. The company's consolidated net profit fell 1.2% to Rs 277.12 crore on 12.1% rise in total income to Rs 2527.81 crore in the year ended 31 March 2015 over the year ended 31 March 2014. CMC's board of directors at its meeting held yesterday, 9 April 2015, recommended dividend of Rs 27.50 per share for the year ended 31 March 2015.
Shares of select financials firms will be in focus after global rating agency Moody's Investors Service yesterday, 9 April 2015 upgraded its outlook for some companies to positive from stable. The rating agency downgraded the ratings of three private sector banks citing the government's limited capacity to support these banks. The outlook for Bank of Baroda, Bank of India, Canara Bank, Oriental Bank of Commerce, Power Finance Corporation, Rural Electrification Corporation, Punjab National Bank, State Bank of India, Syndicate Bank and Union Bank of India was revised to positive. The local currency and senior unsecured ratings of Axis Bank, HDFC Bank and ICICI Bank were cut to Baa3 from Baa2.
Biocon after market hours yesterday, 9 April 2015 announced that its Insulin Glargine has been approved by COFEPRIS, the Mexican health authority, through its partner PiSA Farmaceutica (PiSA). Insulin Glargine will augment the affordable insulins therapy for diabetes management. 'GALACTUS' by PiSA is the first Insulin Glargine to be approved in Mexico as per the biocomparable approvals pathway defined in 2012.
Mangalore Refinery and Petrochemicals (MRPL)'s board of directors at its meeting yesterday, 9 April 2015 formed a committee to explore and evaluate options for integration of the company and ONGC Mangalore Petrochemicals for better synergy within the group.
More From This Section
Neyveli Lignite Corporation said that Unit II (500 megawatt) of Tuticorin Power Project of NLC Tamilnadu Power, the subsidiary company has been test synchronized with the Grid yesterday, 9 April 2015.
Rubfila International said that the company has suspended the operations due to the labour unrest with effect from 2 April 2015. Management is exploring options to resolve the issues and resume the operations.
Powered by Capital Market - Live News