Stockholm - Swedish telecommunications equipment maker Ericsson has dropped to third place on the Stockholm Stock Exchange in the wake of recent financial turbulence, a report said Monday.

Ericsson had on August 7 lost almost half its value in terms of market capitalization compared to the corresponding day in 2007, the Svenska Dagbladet said.

The group's market capitalization was valued at 212 billion kronor (33.8 billion dollars), compared to 408 billion kronor on August 7, 2007.

Tata Teleservices Limited has decided to launch its GSM services in the country. It will spend approximately Rs 6,450 crore for expansion of its GSM network by 2010. It will also spend some amount to promote its already existing CDMA service. The company is expected to launch GSM services by the end of financial year 2009. The company will also bid for 3G spectrum.

Earlier in the March, the Department of Telecommunications (DoT) permitted Tata Teleservices to operate GSM services using the same license of CDMA. Tata has been directed to pay fees for GSM services, which are likely to start in 19 circles.

Tata Teleservices, a Tata

Aksh Optifibre Limited, leading optical fibre cable maker, has signed an

The Telecom Regulatory Authority Of India (TRAI) has allowed Mobile Virtual Network Operators (MVNO) to start their services in India. MVNO buys air time from existing players and delivers services by making new brand. The current move by the government will allow operators to launch mobile services without having their own mobile network.

Stock market analysts have maintained ‘buy’ rating on Bharti Airtel stock with a short term target of Rs 920.

According to them, interested investors can purchase the stock around Rs 840 with a strict stop loss of Rs 830.
 
Shares of the company, on Wednesday (August 6), closed at Rs 869.70 on the Bombay Stock Exchange (BSE). The total volume of shares traded at the BSE was 1010461. Current EPS and PE Ratio stood at 36.24 and 23.37 respectively. The share price has seen a 52-week high of Rs 1149 and a low of Rs 688 on BSE.