Telecom Sector

Buy Bharti Airtel - Nirmal Bang

Buy Bharti Airtel - Nirmal BangNirmal Bang has maintained its ‘Buy’ rating on Bharti Airtel to achieve a target between Rs 725-745 within 1-5 days.

Traders can buy the stock on dips with a stop loss of Rs 705.

Shares of the company, on Wednesday (April 15), closed at Rs 685.10 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 39.31 and 12.47 respectively. The share price has seen a 52-week high of Rs 950 and a low of Rs 484 on BSE.

Reliance Communications intends buying back FCCBs listed at Singapore Exchange

Reliance CommunicationsWith the help of funds from its internal accretions and the foreign exchange proceeds, Reliance Communications intends buying back foreign currency convertible bonds (FCCBs) at a mark down, depending upon the central bank approval.

A tender offer, for repurchasing the bonds for cash at a discount, has been issued by the company to all its bond holders.

RCom Buys Back US$5 Million FCCBs

RCom Buys Back US$5 Million FCCBsIn a significant move, country's second largest mobile-phone operator, Reliance Communications (RCom) has decided to repurchased US $ 5 Million (about Rs 25.26 crore) foreign currency convertible bonds (FCCBs) at discount from the international markets.

In a disclosure to the Bombay Stock Exchange, the Mumbai based company, owned by Anil Ambani said that it has bought back 50 zero coupon FCCBs aggregating Rs 25.26 crore.

The filing further added that the repurchased bonds are expected to extinguish on April 15, 2009.

GSM service operators achieve a record high in March; add 10.8 million subscribers!

GSM service operators achieve a record high in March; add 10.8 million subscribers!For the third time in the last four months, GSM have surpassed the earlier record pertaining to the highest number of new additions made a single month - this time, crossing the 10-million new subscribers' mark!

Bharti Airtel launches ‘IndiaOne Offer’, call US @ 1 cent/min

Bharti Airtel launches ‘IndiaOne Offer’, call US @ 1 cent/minIn order to take the lead in offering the best value for US to India calling, Bharti Airtel, Asia's leading integrated telecom services provider, on Thursday launched the never before calling rate of 1 cent a minute on its online calling card service airtelcallhome. com, with the name of IndiaOne offer.

Aircel launches GSM services in Mumbai

Aircel launches GSM services in MumbaiAircel, the telecom player in India, with majority stakeholder Malaysian telecom major Maxis Communications, has announced the launch of its GSM mobile services in Mumbai.

With a subscriber base of over 1.8 lakh, Aircel, the fifth largest service provider, rolled out its 17th circle in Mumbai.The company has launched GSM services around 6 circles within past two months.

According to a report, the company has invested over Rs 550 crore for launch of services in the Mumbai circle.

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