The agreement will see Tata Communications delivering connectivity to all 20 Formula One race locations over its network
Tata Communications has announced a multi-year technology service and marketing agreement with Formula One management. The agreement will see Tata Communications delivering connectivity to all 20 Formula One race locations over its network. It will also provide hosting end content delivery services to Formula1.com, which is accessed by fans around the world.
Formula One group businesses and race locations will now be connected to the Tata Global Network (TGN) supported by secure MPLS connectivity. Its information technology infrastructure and Formula1.com will be co-located and hosted in Tata Communications’ data centres.
Vinod Kumar, MD and CEO of Tata Communications, says, “Formula One requires fast and secure connectivity, because even a split second of downtime can have repercussions for its business. This delivery is at the heart of our organisation.”
Tata Communications’ capabilities in video and content delivery networks will enable uninterrupted, high quality connectivity to the multi-media portal on Formual1.com. The TGN has trans-Atlantic and trans-Pacific data transfer capacity of one terabit per second. Its infrastructure will enable the sport’s official website to instantly scale up to cope with significant and unpredictable traffic spikes. It will also provide Formula1.com with a new Managed Security Suite and will apply an additional layer of managed security monitoring to ensure an increased level of protection to Formula One management’s IT infrastructure.
In late morning trade, Tata Communications was trading at Rs242.60 per share on the Bombay Stock Exchange, 3.12% down from the previous close.
“The severe depreciation in the Indian rupee adversely impacted gas costs and margins temporarily in the fourth quarter,” said Shaleen Sharma, MD, GGCL
Gujarat Gas’ (GGCL) consolidated net sales for the year 2011 increased by 31% over the previous year due to higher realisation and volume growth in the company’s high value market segments. This included the CNG (compressed natural gas) segment which grew by 14% in volume with over 32,000 vehicles converted to CNG during the year.
GGCL has a multiple source portfolio and has successfully procured significant volumes of RLNG (re-gasified liquefied natural gas) in its gas sourcing mix, which has necessitated a more dynamic pricing approach, including more frequent sales price corrections.
While sales prices in the industrial segment were revised effective 1 September 2011, the sharp depreciation of the Indian rupee by over 15% against the dollar in subsequent months has impacted GGCL’s gas cost significantly. This had a temporary impact on margins and profits in the fourth quarter until selling prices to the industrial segment were increased again effective 1 January 2012.
Consolidated net sales for the year 2011 were Rs2,382 crore compared to Rs1,814 crore for the previous year. The total volume of gas sold during the year 2011 was 1,246 million metric standard cubic metres (mmscm) compared to 1,212 mmscm in the previous year. The consolidated net sales for the fourth quarter of Rs641.5 crore were higher by 27% over the net sales of the corresponding quarter in the previous year. The volume of gas sold during the fourth quarter was 314 mmscm, as compared to 309 mmscm in the corresponding quarter of the previous year.
The consolidated profit after tax (PAT) for the year 2011 was Rs274.8 crore compared to Rs259 crore for the previous year. The consolidated profit after tax for the fourth quarter was Rs25 crore compared to Rs82.5 crore for the corresponding quarter in the previous year.
Speaking on the occasion of the results, Shaleen Sharma, MD, GGCL said, “The company’s sales margins and earnings were robust for the year 2011 and increased over the previous year. The severe depreciation in the Indian rupee adversely impacted gas costs and margins temporarily in the fourth quarter.”
In late morning trade, Gujarat Gas Company was trading at Rs389 per share on the Bombay Stock Exchange, 0.03% up from the previous close.
Janata Party chief Dr Subramanian Swamy, in his appeal, contended that the special CBI court erred in its order and alleged that the then finance minister P Chidambaram was equally culpable like Mr Raja as he also had a role in deciding the spectrum pricing and allowing telecom companies to offload shares to foreign firms
New Delhi: Janata Party chief Dr Subramanian Swamy on Thursday moved the Supreme Court challenging the trial court order giving clean chit to home minister P Chidambaram in second generation (2G) spectrum allocation scam, saying that there is no doubt that the then telecom minister A Raja took the decision on spectrum allocation after consulting him, reports PTI.
Dr Swamy, in his appeal, contended that the special CBI court erred in its order and alleged that Mr Chidambaram was equally culpable like Mr Raja as he also had a role in deciding the spectrum pricing and allowing telecom companies to offload shares to foreign firms.
“In view of the certified copies brought on record which make it absolutely clear that while the respondent (Raja) may indeed not have consulted the officers of the finance ministry, there is no doubt that he certainly did consult the finance minister in regard to spectrum pricing at least up to the final decision in June 2008,” Dr Swamy said in his petition.
He said the evidence brought before the trial court was sufficient to show that Mr Chidambaram, as the then finance minister, had prima facie committed offences under the Prevention of Corruption Act and other criminal laws.
“The special judge erred in that, despite having made a definite and detailed finding based on his documentation, that Mr Chidambaram was party to two decisions, that is, keeping the spectrum prices at 2001 level and dilution of equity by the two companies, nevertheless the judge held that these two acts are not per se criminal, and hence he rejected plea for making Mr Chidambaram, an accused in the trial of the 2G spectrum scam,” the petition said.
“Once the fact of Mr Chidambaram’s participation in these two crucial decisions is accepted (as has been done by the special judge) it became his duty to direct investigation into the role of Mr Chidambaram,” the petition said.
Dr Swamy’s plea was rejected on 4th February by the special CBI court, trying the 2G case, which had said Mr Chidambaram did not indulge in any criminal conspiracy or derive any pecuniary advantage in the decisions taken with Mr Raja.
The trial court had said that Mr Chidambaram, the finance minister at the time of controversial allocation of 2G spectrum in 2008, was only party to two decisions—keeping spectrum prices at 2001 level and dilution of equity by two companies—which was “not per se criminal”.
The Supreme Court had on 2nd February left on the special court to decide the plea to try Mr Chidambaram in the case.
The trial court had rejected the private criminal complaint filed by Dr Swamy, saying it was without merit.
It said Dr Swamy could not bring evidence on record to show that Mr Chidambaram was acting with a ‘corrupt’ and ‘illegal’ motive and the case against him was distinguishable from other accused who are facing trial in the 2G case.