CBI questions Raja in 2G spectrum scam

New Delhi: Former telecom minister A Raja today appeared before the Central Bureau of Investigation (CBI) for questioning in the Rs22,000 crore second generation (2G) spectrum scam, over a year after the agency registered a case in this connection, reports PTI.

47-year-old Mr Raja appeared before the agency this morning after he was summoned by the CBI under Section 160 of the Criminal Procedure Code.

Mr Raja, who had earlier expressed his inability to appear before the agency, is likely to be questioned at length on the circumstances leading to spectrum allocation which has been criticised severely by the Central Vigilance Commission (CVC) and the Comptroller and Auditor General (CAG).

He was forced to resign last month in the wake of a controversy over his role in the spectrum allocation.

Mr Raja is likely to be questioned on the issue of advancing dates for allocation of spectrum and on the role of his relatives in some of the companies which allegedly acted as a front for certain telecom firms which got spectrum between September 2007 and January 2008.

Mr Raja got the telecom portfolio on 18 May 2007 and again got re-elected as a member of the 15th Lok Sabha and continued as telecom minister from 31 May 2009 till 14th November, this year when he tendered his resignation.

The former minister, who flew to Delhi on Wednesday night from Chennai, had told reporters that he would co-operate with the CBI in the probe.

The Supreme Court has asked the CBI and the Enforcement Directorate to submit status reports on their investigations into the 2G case to it by 10th February, when the case will come up for further hearing.

The CAG in its report to Parliament had said that the allocation of 2G spectrum at undervalued prices had resulted in the loss of Rs1.76 lakh crore to the exchequer.

The CBI in its FIR had mentioned the loss as Rs22,000 crore based on the findings of CVC which had referred the case to it.

Corporate lobbyist Niira Radia was earlier this week quizzed by the CBI at her South Delhi farmhouse. Ms Radia, who was questioned for four hours, came under the scanner after her taped telephonic conversations with various influential people including industrialists, politicians and journalists became public.

The CBI has also questioned former Telecom Regulatory Authority of India (TRAI) chief Pradip Baijal, a 1966 batch IAS officer of Madhya Pradesh cadre, in connection with the case.

The premises of Mr Raja, MR Baijal and Ms Radia were searched by the CBI earlier this month.

User

Friday’s Market Preview: Cautious opening indicated

The local market is likely to open on a cautious note on subdued cues from the global arena. Wall Street closed mostly lower overnight in the holiday-shortened week on low volumes and mixed economic data while markets in Asia were trading mostly lower in early trade today on lower metal prices that put pressure on mining companies. The SGX Nifty was down 7.50 points at 5,988.50 compared to its previous close of 5,995.

The market opened with meagre gains on Thursday, tracking its Asian peers that were mixed. The indices slipped into the red after touching the day's high and were range-bound. However, a sharp rise in the weekly food inflation data put pressure on the market, dragging the indices down. The post-noon session saw the key indices trading sideways on both sides of the neutral line. The market closed flat with a negative bias, down for the second day in a row.

The Sensex ended at 19,982.88, below its psychological level of 20,000 and down by 32.92 points (0.16%) over its previous close. The Nifty settled 4.40 points (0.07%) lower at 5,980.

The US markets closed mostly lower on Thursday on mixed economic data amid thin-volume trade in the holiday-shortened week. In economic data, consumer sentiment was up in December to its highest level since June and demand for long-lasting manufactured goods rose. Initial claims for jobless benefits edged down, but a rise in new home sales in November was below expectations. A rise in copper inventories on the London Metal Exchange renewed demand concerns from China, the world’s largest consumer of metals.

The Dow gained 14 points (0.12%) to 11,573.49. The S&P 500 shed down 2.07 points (0.16%) at 1,256.77. The Nasdaq lost 5.88 points (0.22) to 2,665.60.

US stock markets are closed on Friday for the Christmas Eve holiday.

Markets in Asia were mostly lower in early trade on Friday on speculations of China’s policy measures and a fall in metal prices. Chinese stocks were lower on worries that higher lending costs will raise borrowing costs while new rules might curb auto sales. Japan’s Nikkei was down on lower metal prices and the weakening dollar against the yen lowered the outlook for exporters.

The Shanghai Composite declined 0.43%, the Hang Seng fell 0.30%, the KLSE Composite was down 0.13%, the Nikkei 225 shrank by 0.71%, the Seoul Composite shed 0.08% and the Taiwan Weighted fell 0.30%. On the other hand, the Straits Times surged 0.22% in early trade. The SGX Nifty was down 7.50 points at 5,988.50 compared to its previous close of 5,995.

India has been ranked as the most preferred real estate destination in the Asia Pacific region as foreign investors still consider the country to be extremely viable, a report released on Thursday showed.

“India, and particularly Mumbai and New Delhi, are ranked the foremost real estate market destinations as the residential properties have maintain the growth momentum, and foreign investors still consider this market to be extremely viable,” the ULI-PwC report, ‘Emerging trends in Real Estate in Asia Pacific 2011’, said.

Going forward, the report forecast that India will continue to maintain a GDP growth momentum of 9%-10% per cent by 2015, as Asia’s third-largest economy will witness new private equity in capital markets which will inject capital in infrastructure projects.

User

Another value addition to Moneylife site

Today we are opening up our database to all readers. You can access stock prices and corporate information of about 1,334 companies spread across 49 sectors and five capitalisation sizes, tracked by Moneylife, anytime you want to.

We felt one of the key aspects missing on Moneylife portal was the updated stock market prices and corporate database, which we follow while tracking the listed entities. The main advantage of using Moneylife tickers and database is the customised format of our unique data in true digital avatar.

Moneylife database of 1334 companies undergoes periodic revision as new companies get listed or some become unworthy of investment. So you may ask how it is different and how it works?

How are we different?

For starters, the ticker at the top is 'smart' and flexible. That means you can change the ticker according to either Moneylife Market Cap (ML MCap) or Moneylife Sector (ML Sector). For example, if you select ML MegaCap and then click on the 'Go' tab, you would be able to see stock prices of companies from the ML Mega Cap list. Similarly, if you select ML Auto, then you would be able to see stock prices of companies from this sector and so on.

Remember, Moneylife is the first publication that uses Mega Cap (companies with MCap of over Rs10,000 crore) and Micro Cap (companies with a MCap of less than Rs100 crore) to grade companies, besides the regular Large Cap, Mid Cap and Small Cap, according to their market capitalisation on that particular day.

We have tried to keep it really simple and easy to understand. On the company snapshot page, we have listed four-five key ratios, which give a fair idea about the health and profitability of a company. Some of the key ratio that your may want to take a look are Price to Earnings (P/E) ratio, Price to Book Value (P/Bv) ratio and Return on Equity (ROE) ratio. You really don't need anything more than this.

How does it work?

It is simple. You can either click on the name of any company that appears on the scrolling ticker. Or you can type the company's name in the 'Get Quote' window and it will open up a snapshot of the selected company. This is where you can see the fundamentals and technicals of the company's stock.

In the 'smart' Price Charts, you would be able to compare the share price movement of the selected company with its peers or with Moneylife's sectoral index. Here you can compare price movement from one day to five years. It also gives you the daily moving average (DMA) for 20 days, 50 days and 200 days, provided you select the appropriate period for the price chart. For example for a DMA of 20 days you need to select a period of 1 month and more. Similarly, for a 50DMA you will have to select a period of three months and more and so on.

Here are some key features that you can use to know more about any particular company.

1.    Check the company's share price performance on the BSE and NSE

2.    Check the company's share price performance ranging from one day to five years

3.    The company's recent shareholding pattern

4.    Check the growth indicators like sales, operating profit and net profit over the last five quarters and year on year growth

5.    Check the financials of a company (Profit & Loss and Balance Sheet) with detailed break up for past 4 years

6.    Observe overall effectiveness of the company in terms of different ratios like return on equity, return on assets and return on investments and other crucial valuation ratios. These ratios are all you need.

7.    The mutual fund schemes that hold shares in the company and the size of their holding.

We believe that this is all you need to make intelligent assessment of a stock's trend and its fundamentals. At least that's what we use, which has yielded consistently high returns in the past.

Hope you will find our new feature useful. Write to us [email protected] or [email protected] with comments and suggestions. Happy Investing

User

COMMENTS

Bharat Joshi

6 years ago

great addition to the publication in which lot of ordinary investors have faith..........You can start a weekly negative stock idea. i.e the stocks to avoid.................

MJ

6 years ago

@PRAMOD SAWANT

SELL IT

pramod sawant

6 years ago

i purchased RCOm 250 @155 WHTS IS THE future of this RCOM if i m ready to wait till 1 year from now ??

N K Bansal

6 years ago

Sir,
Can I have access to deliberations / Talks delivered in the workshops organised by moneylife foundation as referene material for me to use in Workshops/Meets/events conducted on Financial Planning & Awareness, Financial counselling, Debt Management And credit counselling.
Counseller, Disha- Ludhiana

manish

6 years ago

Let's Invent money ideazz... Money is everything..?...Some may Debate...But lot of problems could be solved with it...& To earn Money you need to throw Ideazz...& push those Ideazz to make them Reality...So Let's Invent Ideazz..."

KVenkatraman

6 years ago

I want access to your database also the subscription to the to the paid short term cheeta newsletter

Mobile
9920164672

Pradeep B

6 years ago

Sorry.. I have got it..

Pradeep

6 years ago

How to access your data bank?

Aditya

6 years ago

I would much appreciate a critical comment on the Company's Corporate Governance aspects from Moneylife. In whatever depth for whichever closed list of companies based on whatever limited information.

This is a differntiating factor for you since I (and the average investor) knows you are the "good" guys. This aggregation of information at present I can get on any other website.

REPLY

Debashis Basu

In Reply to Aditya 6 years ago

Very useful suggestion
Will work it immediately at least on a 3-point grade: good, bad, cant say

sakharam

6 years ago

Please include dividend history and dividend yield

REPLY

Debashis Basu

In Reply to sakharam 6 years ago

Thanks for your input
We will work on it

Pradeep N

6 years ago

Great! Bravo!

Next steps,

1: Ability for user to track companies and get alerts during result reasons.

2: Search criteria, i want to know in micro cap, all those companies which have grown more than 20% in Operating margins etc.

jd

6 years ago

IF ALL THIS INFO CAN BE PROVIDED FOR IPOS ATLEAST 15DAYS IN ADVANCE IT WILL HELP IPO INVESTORS TO MAKE A MORE INFORMED DECISION AND ARRANGE FUNDS ETC WELL IN TIME. AT PRESENT MOST SITES GIVE INFO JUST A FEW DAYS BEFORE.
MOREOVER ONLINE INFO OF SUBSCRIPTIONS IN REAL TIME WILL ALSO BE HELPFUL THAN DIGGING AROUND AND THE DATE ALLOTMENT DECISIONS ARE TAKEN AND WHEN REFUNDS SHOLD GET CREDITED ETC.

ALSO IN YOUR DATABASE ADD COLUMN FOR DIVDENDS AN IMP ELEMENT IN DECISION MAKING.

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)