Top headlines: BSNL telecom services in Mumbai, Delhi; NDA wins Bihar polls

From BSNL starting telecom services in Mumbai and Delhi to jump in consolidated net profit for Tata Power, here are top headlines this morning

BSNL to start telecom services in Mumbai and Delhi from January 1

It’s going to be a different new year for Mumbai and Delhi as the two metro cities will for the first time get telecom services from state-owned Bharat Sanchar Nigam Ltd (BSNL). So far, Mahanagar Telephone Nigam Ltd (MTNL) — once a telecom major enjoying a dominant market share in the fixed line space — offered its services in Delhi and Mumbai while BSNL catered to the rest of the country. Read More

Advancing our dialogue with India for Covid-19 vaccine, says Pfizer

Pfizer was exploring opportunities to make its Covid-19 vaccine available in India and that if successful, its vaccine had the potential to be an important part of India’s early vaccine response to the pandemic , a company spokesperson told Business Standard. Pfizer is committed to ensure the availability of its Covid vaccine for use by governments across the world. It said it remains committed to engaging with the Government of India to advance its dialogue and explore opportunities to make its vaccine available for use in the country. Read More

NDA gets simple majority in Bihar; BJP comes out with flying colours

A stellar performance by the BJP enabled the ruling NDA to attain a simple majority in the Bihar assembly notwithstanding a sharp fall in the tally of the JD(U) headed by Chief Minister Nitish Kumar, according to final results announced early Wednesday. The saffron party, which had contested 110 seats, won 72 and was leading in another two while the JD(U) which fought 115, won only 42 and was ahead in another. With four seats each won by junior allies HAM and VIP, the NDA is poised to have 125 seats in its kitty, three more than the number required for a simple majority. Read More

India capable of strengthening cold chain for Pfizer vaccine: Health secy

India is in a position to not only augment and strengthen but also add to its cold chain capabilities, Health Secretary Rajesh Bhushan said on Tuesday, in response to a query on the country’s cold storage capacity for vaccines such as Pfizer’s that need to be kept in minus 70 degrees Celsius. Read More

Oaktree Capital, Piramal Enterprises, Adani revise offers for bankrupt DHFL

The race for the takeover of bankrupt Dewan Housing Finance Corporation Ltd (DHFL) is seeing more action with bidders hiking their offers after the lenders (to DHFL) asked them in late October to do so. Piramal Enterprises has increased its offer to around Rs 25,000 crore for the retail books of DHFL while Adani Group has put on the table Rs 3,000 crore for the wholesale and SRA (slum redevelopment authority) account. Read More

Godfrey Phillips India board pushes for additional independent director

The board of tobacco major Godfrey Phillips India (GPI), which met on Tuesday, pushed for appointing an additional independent director, according to sources privy to the discussions. The move, once cleared, will increase the number of independent directors on the board to five, while non-independent directors would be of the same strength. Read More

Telecom operators want level-playing field with satellite companies

Telecom operators have written to the department of space to avoid the ‘backdoor’ entry of satellite communications operators in the country. The move comes a few days after billionaire businessman Elon Musk tweeted that his Starlink internet services would be available in India as soon as it gets regulatory approvals next year. Read More

Tata Power consolidated net profit rises 10% to Rs 371 crore in Q2

Tata Power on Tuesday posted a 10 per cent increase in consolidated net profit at Rs 371 crore for the quarter ended September 2020. "Consolidated PAT stood at Rs 371 crore (in July-September 2020) up by 10 per cent as compared to Rs 339 crore in Q2 FY20 due to stable performance across businesses," a company statement said. On a consolidated basis, Tata Power Group's Q2 FY21 revenue was up by 15 per cent at Rs 8,413 crore as compared to Rs 7,329 crore last year. Read More

Centre releases Rs 6,158 cr to 14 states as revenue deficit grant

The central government has released Rs 6,157.7 crore to 14 states as monthly instalment of the post-devolution revenue deficit grant in line with the interim recommendations of the 15th finance commission. "The Government has released Rs 6,195.08 crore to 14 states on account of the eighth equated monthly installment of post devolution revenue deficit grant,” said the office of finance minister Nirmala Sitharaman on Tuesday on Twitter. Read More