Companies & Sectors
No takers for GSM spectrum, Sistema Shyam lone bidder for CDMA

The price of spectrum in the 1800 MHz band in Delhi, Mumbai, Karnataka and Rajasthan was reduced by 30% after no bid was received for them in November. But even after a price cut, there was no taker. Sistema Shyam Teleservices was the lone applicant in the CDMA auction

The government’s 2G second generation spectrum auction next month looks set to be a washout with just one company, Russia’s Sistema, applying for participation in the sale of airwaves that too in just one of the three bands for which bids were invited.


Reacting to the muted interest shown by companies, telecom minister Kapil Sibal said: “Fate of this sector is being decided somewhere else. The government has done its best and meticulously followed the Supreme Court order.” “I think that government’s hands were tied… and the result is for everybody to see.” he added.


The Department of Telecommunications (DoT) had announced conducting auction for spectrum unsold in November along with spectrum that is being held by operators whose licences are due for renewal in 2014.


The price of spectrum (1800 MHz band) in Delhi, Mumbai, Karnataka and Rajasthan was reduced by 30% after no bid was received for them in November. But even after a price cut, there was no taker.


“No application was received for the second round of GSM spectrum till the official time of 5.00pm on Monday, while Sistema’s Indian joint venture Sistema Shyam Teleservices was the lone applicant in the CDMA auction,” a DOT source said.  While cancelling 122 2G licences, the Supreme Court on 2 February 2012 had asked the centre to allocate spectrum to companies through auction.



Dayananda Kamath k

4 years ago

the supreme court cancelled the licences because there is curruption and rules were changed at the last minute to benefit some operators. hence all the liceneces granted during a. rajas period were cancelled. but the govt and industry took the stance that it was cancelled becasue of the amount of loss involved to the govt.the game is changed to include the bjp govt decisions as well as reserve price is kept high so that they can prove that there is no such demand and loss calculated is wrong. everybody is thinking on that logic.they have successfully fooled the people of india.

Supreme Court says no more time to Sahara to refund Rs24,000 crore

The apex court, which earlier extended the deadline to two Sahara companies for refunding investor's money from November end to first week of February, refused to grant more time

The Supreme Court on Monday dismissed a plea filed by Sahara group seeking an extension of a deadline for depositing money and documents with market regulator Securities & Exchange Board of India (SEBI). The apex court also pulled Sahara for not complying its earlier order of refunding Rs24,000 crore of investor's money by first week of February.


A bench headed by Chief Justice Altamas Kabir, said, "If you have not refunded the amount as per our order then you have no business to come to court".


Two companies of Sahara group--Sahara India Real Estate Corporation (SIREC) and Sahara Housing Investment Corporation (SHIC)--who along with Sahara Chief Subrata Roy are facing contempt proceeding in the apex court before another bench which had on 6th February allowed SEBI to freeze accounts and seize properties of its two companies for defying court orders by not refunding the money to investors.


On 13th February, SEBI ordered a freeze on the assets and bank accounts of two Sahara group companies, saying they had failed to heed the Supreme Court order to repay investors. According to some media reports, more than 100 bank accounts of the group were affected by the order. The market regulator also ordered a freeze on all bank accounts and properties in the name of the Sahara Group founder, Subrata Roy, and three other directors of the two companies, Sahara Housing Investment Corp and Sahara India Real Estate Corp.



Vaibhav Dhoka

4 years ago

It seems that Supreme court understood gimmick of SAHARA.Supreme court should have dealt on advertisement put up by SAHARA whose actual modus is to defy law of land.

Nifty in no-man’s land: Monday closing report

Nifty may remain directionless until budget

Most of the Asian indices opened in the positive on the speculation that the next Bank of Japan governor will deploy aggressive monetary easing. On Friday, the US stocks rallied after better-than-expected results from personal-computer maker Hewlett-Packard Co and an upbeat report on German business confidence. Back at home the Sensex and the Nifty also opened in the positive at 19,365 and 5,871 respectively. But soon the domestic indices entered into the negative zone and in the noon session both the Sensex and the Nifty hit their respective intra day low. Sensex hit a low of 19,238 which the lowest after 21 December 2012 while Nifty hit a low of 5,825 which is the lowest after 18 December 2012. However, there were strong support levels for the market and Sensex and Nifty made a smart recovery to hit a higher high at 19,411 and 5,878. The indices couldn’t sustain at that level and started a downward, but ended flat. Sensex closed 15 points up (0.08% up) at 19,332 while the Nifty closed 4 points up (0.08% up) at 5,855. The NSE saw a disastrous advance decline ratio of 431:1085 and a volume of 64.36 crore shares.
While the BSE Sensex closed flat, the broader indices ended in the negative. The BSE Mid-cap index fell 1.20% and the BSE Small-cap index fell 1.36%.
The top sectoral gainers were BSE IT (up 1.86%); BSE TECk (up 1.28%); BSE Auto (up 0.78%) and BSE Healthcare (up 0.02%). The main losers were 
BSE Realty (down 2.39%); BSE Capital Goods (down 1.68%); BSE Metal (down 1.08%); BSE Oil & Gas (down 1.05%) and BSE PSU (down 1.04%).
Fifteen of the 30 stocks on the Sensex closed in the positive. The major gainers on the Sensex were Infosys (up 2.84%); Tata Motors (up 2.06%); Hero MotoCorp (up 1.42%); BHEL (up 1.29%) and TCS (up 1.16%). The chief losers were Cipla (down 2.60%); Larsen & Toubro (down 2.30%); ONGC (down 2.04%); Coal India (down 1.99%) and Reliance Industries (down 1.01%).
The top two A Group gainers on the BSE were—Ranbaxy Lab (up 4.80%) and Sun TV Network (up 3.94%).
The top two A Group losers on the BSE were—Core Projects (down 62.42%) and Opto Circuits (down 10.26%).
The top two B Group gainers on the BSE were—Concurrent India (up 20%) and Winsome Yarns (up 11.84%).
The top two B Group losers on the BSE were—Aanjaneya Lifecare (down 20%) and Sudar Industries (down 19.99%).
Of the 50 stocks on the Nifty, 24 ended in the green. The key gainers were Ranbaxy Lab (up 4.94%) %); Power Grid Corporation (up 2.84%); Infosys (up 2.79%); Tata Motors (up 2.19%) and BHEL (up 1.84%). The top losers were
DLF (down 3.39%); Jaiprakash Associates (down 3.20%); Cipla (down 2.97%); Larsen & Toubro (down 2.46%) and ONGC (down 2.15%). 
On international news, China's manufacturing may expand this month at a slower rate, according to a private survey of companies. The preliminary reading of a Purchasing Managers' Index was 50.4 in February, according to a statement from HSBC Holdings Plc and Markit Economics today, 25 February 2013. HSBC and Markit will report the final February reading on Friday, 1 March 2013, the same day that a separate, government-backed purchasing managers' index will be released. Except for Seoul Composite (fell 0.46%) and Taiwan Weighted (fell 0.49%) which ended in the negative all the other Asian indices ended in the positive with the Nikkei 225 being the top gainer (up 2.43%)
Moody's Investor Service late Friday cut its triple-A rating on the United Kingdom because of a weak growth outlook and the country's rising debt burden. Moody's lowered its rating on the UK's domestic and foreign-currency government bond ratings by one notch to Aa1 from Aaa. The outlook is stable.
With few days left before $85 billion is slashed from U.S. government budgets, the White House on Sunday issued more dire warnings about the harm the cuts will do to Americans. But Republicans, who advocate budget cuts, said the warning was overplayed and called on President Barack Obama to apply what is known as the "sequester" in a more careful way, rather than slashing budgets across the board. 
The US Futures were trading hugely in the positive, following a huge rally in all the major European markets. 
After market hours, Bhoruka Aluminium has informed BSE that the board of directors of the company at its meeting has approved to make reference to Board for Industrial and Financial Reconstruction (BIFR) under Section 23(1) of Sick Industrial Companies (Special Provisions) Act, 1985 (SICA 1985), consequent to erosion of more than 50% of the peak net worth of the company as at September 30, 2012 (18 months); the proposal which has been duly considered and approved by the shareholders at its annual general meeting held on February 25, 2013. The stock closed 1.01% up at Re 1 on the BSE.
Jindal Photo has informed BSE that the board of directors of the company at its meeting has decided to withdraw the scheme of demerger of investment division of Jindal Photo into Jindal Photo Investments and Finance Limited. The company will soon apply to Bombay High Court in this regard. The stock fell 3.71% to close at Rs119.45.


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