Sensex ends at record high, up 476 pts; Voda Idea gains 3% on govt relief

Both Sensex and Nifty hit fresh record highs in intra-day deals on Wednesday

3:31 PM

Telecom Relief Package :: Key Highlights

>> Rationalised definition of AGR (Non-telecom revenue won't be included in AGR definition)
 

>> Rationalised interest rates for telcos (annual compounding approved)
 

>> Future auctions will be done for 30 yrs vs 20 yrs now
 

>> Telcos can be surrendered after a 10-yr lock-in period if there is a change in technology
 

>> Approval to spectrum sharing
 

>>Approval to 100% FDI via automatic route vs 49% currently
 

>> Cabinet approves digitisation of customer data (KYC from here on)
 

>> Cabinet approves rationalisation of auction calendar (likely at the end of the year)
 

>> Simplification of KYC norms if one switches from pre-paid to post-paid and vice versa
 

>> Amend custom duty on telecom equipment imports
 

>> 4G/5G to be deployed via indigenous tech
 

>> Cabinet approves 4-yr moratorium for all dues owed by Telcos.. However, they will have to pay interest @ MCLR+2% if they take morat

3:27 PM

Cabinet has approved nine structural reforms for telecom sector today

>> Govt approves 100% FDI via automatic route in telecom sector

Source: TV Channels

3:23 PM

ALERT :: Govt rationalises definition of AGR as part of incentives for telecom industry

>> Non-telecom revenue won't be included in AGR definition says Telecom Minister

3:20 PM

ALERT :: Cabinet has approved big reforms for the telecom sector today, says Telecom Minister

 

3:16 PM

NEWS ALERT :: Outlay for auto sector incentives will be Rs 25,938 Crore

>> Govt has given incentives to the tune of Rs 120 cr for drone industry

>> Expect tier-one companies to qualify for auto PLI scheme, says Anurag Thakur
 

>> New non-automotive investors with net worth of Rs 1,000 cr will qualify for the scheme

 

 

3:08 PM

NEWS ALERT :: Cabinet approves PLI Scheme for automotive sector

>> Cabinet also approves PLI scheme for auto-component industry

2:57 PM

Coal India surges 5%, trades near 52-week high on price hike report

Shares of Coal India gained 5 per cent at Rs 161.90 on the BSE in the intra-day trade on Wednesday, having gained 9 per cent in the past three trading days, on report that the company might raise prices of the dry fuel by at least 10-11 per cent to mitigate the impact of increased costs and an impending wage revision. READ MORE

2:43 PM

PE/VC investments rise to $10.7 bn in Aug; IPOs drive surge in exits

Investments by private equity and venture capital funds surged to USD 10.7 billion in August from USD 2.2 billion in the same month last year, and USD 9.7 billion in July this year, a report said on Wednesday. In terms of volume as well, the numbers were up with August recording 137 transactions as against 83 in the year-ago period and 77 in July, the report by industry lobby IVCA and EY, a consultancy, said. READ MORE

2:36 PM

Sensex Heatmap at this hour

2:27 PM

Decade-high Aluminium price can spark up to 25% rally in these metal stocks

Base metal stocks including Hindalco, Vedanta and National Aluminium were in focus on Wednesday as a spike in Aluminum prices brighten earnings prospects. Early this week, aluminium reached $3,000 a ton in London for the first time in 13 years amid expectations that supply disruptions are here to stay, while demand keeps rising. The metal kept climbing even after a 15 per cent surge over the last three weeks. READ MORE

2:20 PM

IPO Update :: Sansera Engineering subscribed 0.79 times so far on Day 2

2:03 PM

New Milestone :: Airtel market cap crosses Rs 4 trillion for the first time

1:59 PM

Top gainers among IT stocks

1:46 PM

Sensex Heatmap | Top gainers & losers at this hour

1:42 PM

This Ashish Dhawan-owned stock has zoomed 114% in four months

Shares of Zensar Technologies hit a new high of Rs 572.25, surging 17 per cent on the BSE in intra-day trades on Wednesday on the back of heavy volume. The stock of information technology (IT) consulting & software company has soared 31 per cent in past five trading days, after the company on September 9, 2021 announced that they have partnered with FRISS, the most widely adopted provider of AI-powered end-to-end fraud prevention and detection solutions for P&C insurers worldwide. This global, strategic partnership will enable Zensar’s clients to access the latest market-ready AI, a multitude of data sources and unparalleled customer service directly through FRISS. READ MORE