Telecom stocks Idea Cellular and Bharti Airtel rose after telecom Minister Kapil Sibal said that that Union Cabinet will take a final decision on the base price for an upcoming auction of telecom bandwidth by 4 February 2013. Idea Cellular spurted 8.27% to Rs 122.40 after striking a 52-week high of Rs 123 in intraday trade today, 15 January 2013. The stock topped the gainers in the BSE's 'A' group. The stock had outperformed the market over the past one month till 14 January 2013, rising 18.13% compared with the Sensex's 3.05% rise. The scrip had also outperformed the market in past one quarter, surging 41.40% as against Sensex's 6.59% rise.
Bharti Airtel gained 4.81% to Rs 345.25 and was third biggest gainer in 'A' group. The company today, 15 January 2013, announced senior level organizational changes that will be effective March 1, 2013. After almost 15 years of illustrious innings at Bharti Group, Mr. Sanjay Kapoor, CEO -- India & South Asia, Bharti Airtel, has decided to pursue his future aspirations outside of Bhart, the company said in a statement. He will continue in his current role until 28 February 2013, and will be available to assist on key matters until March 31 2013 ensuring a smooth transition process. Mr. Kapoor will continue his association with the Bharti Group and be on the board of Indus Towers and Bharti Global.
Gopal Vittal, who rejoined Airtel in April 2012 as Group Director, Special Projects, will take over as CEO -- India, Bharti Airtel. He will report to the Chairman & Managing Director, Bharti Airtel. South Asia operations i.e. Bangladesh and Sri Lanka would report into the CEO (International) effective 1 March 2013. However, various business leaders and functions from Airtel India would continue to support South Asia operations in this revised arrangement.
The government plans to conduct the next round of auction starting 11 March 2013, including for airwaves in the 800-megahertz frequency band used for providing services on the code-division-multiple-access (CDMA) platform. In November, no company had bid for bandwidth to provide CDMA-based services. An Empowered Group of Ministers recently recommended the cabinet to set a lower base price for the auction in March, compared with what it had set for the first round in November, so as to ensure better participation from companies.
Berger Paints surged 7.91% to Rs 162.35 after striking a record high of Rs 166.65 in intraday trade today, 15 January 2013. The stock was second biggest gainer in 'A' group. The company will unveil its Q3 December 2012 on 2 February 2013.
Hexaware Technologies advanced 4.36% to Rs 93.45 and was the fourth biggest gainer in 'A' group. The company will declare its Q4 and year ended 31 December 2012 results on 11 February 2013.
Yes Bank rose 4.05% to Rs 528.15 after striking a record high of Rs 532.65 in intraday trade today, 15 January 2013. It was the fifth biggest gainer in 'A' group. Reportedly Yes Bank is in talks to buy the local retail and commercial operations of Royal Bank of Scotland Group Plc (RBS).
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