Bharti Airtel & Bharti Infratel: The telecom giant on Sunday said it will raise call and data plan charges for pre-paid customers from December 3. The tariffs will cost up to 42% more compared to the price that Airtel pre-paid customers pay at present for plans in the “unlimited” category.
Shares of Bharti Infratel, a subsidiary of Bharti Group, on Friday settled at ₹276 or 7.6% higher after Airtel decided to hike tariffs.
The telecom operator announced a hike in mobile calls and data charges from December 3. Voda Idea has announced new plans for prepaid product and services with 2 days, 28 days, 84 days, 365 days validity. A rough calculation showed that the new plans are costlier up to 42% compared to earlier plans. Stocks of Grasim Industries and Hindalco, promoters of Vodafone Idea, may also react to the latest hike in tariffs.
Come 6 December, Reliance Jio will raise mobile services rates by up to 40%. “New ‘All in One’ plans across multiple price points, with unlimited voice and data, to meet the needs of all customer segments. These plans will have a fair usage policy for calls to other mobile networks and customers will get up to 300% more benefits,” the company said in a statement.
The private lender on Friday after market hours said that a number of investors have evinced interest to buy Yes Bank equities worth a total of $2 billion via a preferential allotment of shares.
Private sector lender RBL Bank, on Saturday, said it has approved raising of ₹825.79 crore worth equity capital by way of preferential allotment to five investors. The bank’s board has agreed to allot 24.24 million shares at ₹340.70 apiece.
The auto majors on Sunday posted a drop in their sales numbers. Maruti Suzuki India Ltd (MSIL) recorded a 2% year-on-year (YoY) drop in its total wholesales in November, while Mahindra & Mahindra Ltd (M&M) reported a 9% YoY decline. Tata Motors also reported a 25% YoY decline its domestic wholesale volumes for November at 38,057 units.
The private sector lender is setting aside more capital, more than twice over the regulatory requirements, for loans in sectors it has identified as stressed, according to a PTI report. The high level of NPAs and the ensuing provisioning have impacted the profits of a majority of lenders, including Axis Bank, over the past four years.
The RBI on Friday referred Dewan Housing Finance Corp. Ltd (DHFL), which has a debt of ₹83,873 crore, to the National Company Law Tribunal (NCLT) for insolvency proceedings. DHFL is the first financial services firm to be sent to the bankruptcy tribunal after the government notified the rules for referring financial services providers (FSPs) on 15 November.
State-owned NBCC Ltd is likely to offer more land to lenders and reduce timeline for completion of about 20,000 flats in its final bid to acquire bankrupt realty firm Jaypee Infratech. NBCC is considering to give additional land to lenders in lieu of its offer to provide profit share in unclaimed flats and some land parcel, which is pledged as well as under litigation, says a PTI report.
Realty developer Oberoi Realty is in talks with Marriott International for a 120-room luxury five-star hospitality project as part of its total 1.8-million sq-ft mixed-use project in Mumbai’s Worli locality, according to a report published in The Economic Times.