Vodafone Idea to remain as third private telco, not turning into a PSU: CEO
Vodafone Idea is confident it can reach a fundraising deal with potential investors, bolstered by a federal government package that provides much-needed relief to the debt-ridden mobile carrier, its chief executive officer said on Wednesday.
Investors were waiting to see whether New Delhi would ensure that at least three players exist in the telecoms sector and also wanted the funding to be used for business rather than paying government dues, said Ravinder Takkar, the CEO of Vodafone Idea. Read more
Media stocks in focus post Zee-Sony deal; shares advance up to 25%
Shares of Zee Entertainment Enterprises Limited on Wednesday zoomed nearly 32 per cent after announcement of a merger with Sony Pictures.
Leading media firms Zee Entertainment and Sony Pictures on Wednesday said they have received in-principle approval for a merger that will combine both companies' linear networks, digital assets, production operations and program libraries. Read more
AI chairman Rajiv Bansal appointed aviation secy, K Rajaraman telecom secy
Air India Chairman Rajiv Bansal has been appointed as the new aviation secretary as part of a major top-level bureaucratic reshuffle effected by the Centre on Wednesday.
K Rajaraman, Additional Secretary in the Department of Economic Affairs, has been appointed as Secretary, Department of Telecommunications, a Personnel Ministry order said. Read more
ITC regains Rs 3-trillion market cap; stock hits 21-month high
ITC's market capitalisation returned to Rs 3 trillion-mark on Wednesday after the stock of the biggest cigarette and second largest fast moving consumer goods (FMCG) company hit a 21-month high on the bourses. The stock hit an intra-day high of Rs 244.70, up 1 per cent on the BSE today, and was trading at its highest level since December 2019. Read more