The government received bids for around 78% of blocks in 1,800 Mhz band, and 100% in 900 MHz band that would help it to mop up over Rs61,000 crore from the auction
The Indian government has received bids worth over Rs61,000 crore from the telecom spectrum auction that ended on 10th day and after 68 rounds on Thursday.
The auction for 900 MHz and 1800 MHz bands saw strong contest for the radio waves among eight telecom companies, with the bidding stretching to 68 rounds.
“Spectrum auction has ended after 68 rounds,” said an official source.
The bid value of the spectrum in the two bands, used for offering 2G services, has reached around 90% of the money that the government had received in the 3G spectrum auction in 2010, which fetched Rs67,718.95 crore.
The government will now get at least Rs18,273 crore in the current fiscal ending on 31st March in case companies opt for instalment mode.
The government received bids for around 78% of blocks in 1800 MHz band, and 100% in 900 MHz band.
The bidding amount for 1800 MHz has crossed its value of the reserve price, while for 900 MHz the price rose by over 85%.
In the 900MHz band, Delhi was the most sought after circle where price increased by 106% to Rs740.96 crore as compared with the original reserve price of Rs359.65 crore. Prices have also increased in Mumbai (71.9%) and Kolkata (55.3%) as compared with the reserve price.
In the 1800MHz band, spectrum price has increased the most in Assam by more than 400% over the past 10 days.
The government had put on the block about 385 MHz of spectrum in the 1800 MHz band, and 46 MHz in 900 MHz band.
Eight companies participated in the auction, which include -- Bharti Airtel, Vodafone, Idea Cellular, Reliance Jio Infocomm, Aircel, Tata Teleservices, Telewings (Uninor) and Reliance Communications.
Out of the five online spectrum auctions, the just-ended round was the largest in terms of radio waves on sale, and third longest till date in terms of duration.
The 3G auction in 2010 lasted for 34 days, broadband wireless access (BWA) ended in 16 days. 2G auction in November 2012, on the other hand, ended in just two days, while the CDMA auction in March last year had concluded the same day.
PI Industries during December quarter reported 45% higher net profit as its sales grew 23%
PI Industries, Rajasthan based agricultural chemicals and products manufacturing company said its third quarter net profit increased 45% on in its total sales growth of 29%.
For the quarter to end-December, PI Industries said its net profit surges 45% to Rs34.70 crore from Rs23.96 crore, Its total sales increased 29% to Rs363.38 crore from Rs282.58 crore a year ago period.
During the December quarter PI Industries approved the draft scheme of amalgamation between its holding company, Parteek Finance & Investment Co. Ltd and PI Industries Ltd. However it is subject to requisite regulatory approvals. Under this scheme, there would be no change in the promoters’ shareholding of the company.
During 31 January 2013 to 31 December 2013, FIIs shareholding in the company grew to 19.60% from 17.81%. However, domestic institutional investors (DIIs) shareholding fell to 5.51% from 6.47%, promoter shareholding remained 58.57%.
PI Industries declared 50% interim dividend at Rs0.50 per equity shares for December quarter.
PI Industries closed 5.07% down on Thursday at Rs232.90 on the BSE, while the 30-share benchmark Sensex closed 1.25% down at 20,193.
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During the December quarter, Sun Pharmaceuticals’ net profit surged to Rs1,531 crore on robust sales and higher exports
Sun Pharmaceutical Industries Ltd (Sun Pharmaceutical), recorded a 74% jump in its third quarter net profit on robust sales in domestic and overseas markets.
For the quarter to end-December Sun Pharmaceutical said its consolidated net profit grew 74% to Rs1,531 crore from Rs881 crore, while its total revenues, including sales, rose 50% to Rs4,287 crore from Rs2852 crore, a year ago period.
During the quarter, Sun Pharmaceutical’s branded generic sales in India grew 20% to Rs947 crore, while sales of finished dosage in the US market grew 57% to $434 million (in US dollar terms) over a year ago period.
The company’s international formulation sales grew 16% to $84 million (in US dollar terms) during the December quarter. Overall international revenues accounted for more than 75% of total revenues for the quarter.
External sales of API decreased 17% at Rs174 crore compared with same period last year. A cumulative of 252 drug master files (DMF) and Certificate of the European Pharmacopoeia (CEP) applications have been made, with 172 approved so far, during the December quarter.
Sun Pharmaceutical in December quarter spent Rs306 crores, a 7.1% of its sales in research and development (R&D). It filed 5 abbreviated new drug application (ANDA). After counting these, and adjusting for filings that were dropped, cumulatively ANDAs for 468 products have been filed with the United States food and drug administration (USFDA) as on 31 December 2013.
During the December quarter ANDAs for 4 products received approvals, taking the total number of approvals to 337 as on 31 December 2013. ANDAs for 131 products now await USFDA approval, including 14 tentative approvals. The total number of patent applications submitted now stands at 534, with 342 patents granted so far.
Sun Pharmaceutical closed Thursday marginally up at Rs614.7 on the BSE, while the 30-share benchmark closed 1.25% down at 20,193.
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