Telecom stocks in focus

Telecom stocks will be in focus. The auction of spectrum in 2100 MHz, 1800 MHz, 900 MHz and 800 MHz Bands re-commenced yesterday, 9 March 2015 and seven rounds of bidding were completed, according to a statement from the Ministry of Communications & Information Technology issued late on Monday, 9 March 2015. 31 rounds of bidding has taken place. The bidding has taken place in all bands. At present, a value of approximately Rs 94000 crore has been committed by bidders in respect of provisionally won spectrum. There is still spectrum, which is yet to be sold. Bidding would recommence today, 10 March 2015.

Shares of Reliance Infrastructure will be in focus. With respect to news article titled, "Reliance Infra's power distribution licences revoked in Odisha," Reliance Infrastructure clarified after market hours yesterday, 9 March 2015, that the company along with one of its subsidiaries holds only 200 shares each in the equity capital of 6.59 crore shares of North Eastern Electricity Supply Company of Odisha, 3.76 crore shares of Southern Electricity Supply Company of Odisha and 4.86 crore shares of Western Electricity Supply Company of Odisha. None of the other subsidiaries or associates of Reliance Infrastructure holds any shares in these companies. These discoms are board managed companies with their own key managerial personnel. In view of the above, there is no need for the company to make any disclosure in terms of Clause 36 of the Listing Agreement, the company added.

Infosys announced before market hours that Infosys BPO has opened new centre in Puerto Rico in collaboration with the Commonwealth Administration and Puerto Rico Industrial Development Company (PRIDCO). The centre will host approximately 250 employees serving worldwide clients. It will leverage this new centre to initially deliver complex order to cash business processes for clients in the aviation sector. Infosys BPO is further expanding its footprint in the region to service clients in the federal/government sector, and the healthcare industry.

Sesa Sterlite has reportedly cut its capital expenditure (capex) guidance for the next financial year by half as weaker metal and crude oil prices have affected expansion strategy. In a conference call with investors yesterday, 9 March 2015 the management of the Sesa Sterlite, said capex for 2015-16 is being reduced to $1 billion from the $2 billion planned earlier. This includes a significant cut in the capex of Cairn India, reports added.

Colgate Palmolive (India) announced after market hours yesterday, 9 March 2015, that it has fixed 9 April 2015 as the record date for payment of third interim dividend, that may be declared by the board of directors for the financial year ending 31 March 2015 (FY 2015) at their meeting to be held on 27 March 2015.

The Reserve Bank of India (RBI) yesterday, 9 March 2015 allowed foreign institutional investors and foreign portfolio investors to invest up to 49% of the paid-up capital of Time Technoplast.

Monnet Ispat and Energy (MIEL)'s subsidiary Monnet Power Company won the Utkal-C coal block at Rs 770 per tonne in the coal auctions for schedule III category mines held yesterday, 9 March 2015.

Hinduja Finance said that a meeting of the board of directors of the company will be held on 11 March 2015, to consider, issue of second tranche of Unsecured Redeemable Non-convertible Subordinated Debentures not exceeding Rs 100 crore.

3i Infotech said that the company has allotted 15.39 lakh equity shares on 9 March 2015 against conversion of the FCCBs of principal amount of $500,000.

Linc Pen & Plastics said that the equity shares of the company shall be listed and admitted to dealings on the National Stock Exchange of India (NSE) with effect from today, 9 March 2015.

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