 "News digest: Jet under lens, spectrum auction, TCS vs IBM, and more")
Jet under lens over results deferment
State Bank of India (SBI), the country’s largest lender, put Jet Airways’ loans on the watch list and the civil aviation ministry said it was monitoring the situation at the airline after it deferred its first quarter financial results on Thursday.
The capital markets regulator Securities and Exchange Board of India (Sebi) was also looking into the deferment of results on account of reservations expressed by the airline’s audit committee, according to a PTI report. Sebi is concerned about any possible lapses in terms of disclosures and corporate governance norms by Jet Airways. The regulator is in touch with the stock exchanges on the matter. Read more
DoT mulls yearly spectrum auction
The Department of Telecommunications (DoT) is discussing a proposal for auctioning spectrum on a yearly basis and offering it at a predetermined time. The proposal, if accepted, could be implemented in the forthcoming spectrum auctions.
The Telecom Regulatory Authority of India (Trai) has already submitted its recommendations for auctioning spectrum across various bands, including 5G. Read more
HDFC Bank’s Paresh Sukthankar resigns
HDFC Bank’s Paresh Sukthankar has resigned from the board of the country’s largest private sector bank. He will vacate the post of deputy managing director.
Sukthankar has been with HDFC Bank since its inception in 1994. Currently, he is overseeing the banks’ credit and risk management departments as well as finance and human resources. Read more
TCS closes in on IBM as world’s most valued IT services firm
Tata Consultancy Services (TCS) is closing in on IBM as the world's most valuable information technology (IT) services company.
Currently, IBM is about 20 per cent bigger than TCS in terms of market capitalisation, compared to nearly twice the latter’s size a year ago. India’s top technology company is valued at $110.5 billion, against IBM’s current market capitalisation of $131.9 billion. Read more
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