Anil announces GSM foray, promises exciting tariff December 31, 2008
Posted by dhirendra1972 in Asian Markets, Asin Share markets, Equity, Equity Investment, Equity Market, Equity markets, Finance, Financial Capital, financial market, Loans, Local Equity Market, Local Market, Online Marketing, Open Market.Tags: 3G, CDMA, GSM, Relince Communication
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Good Evening friends,
I think Anil Ambani is going to give some extra ordinary surprise to people of india. He just announce that his headed company Reliance Communications is going to come up with GSM mobile service in first week of January 2009.
Anil Ambani, head of Reliance Anil Dhirubhai Ambani Group (ADAG), on Tuesday announced the launch of Reliance Communications GSM mobile phone services in the first week of January 2009.
He did not announce the tariff plan details but promised “GSM (tariff) rates that will make people forget the Rs-501 CDMA offer of 2003.” Reliance currently has 60 million customers, including over 1.7 million individual overseas retail customers.
The tailored bouquet of GSM and CDMA mobility platforms gives Reliance customers the option to choose the service. Around seven out of 10 people opt for GSM service while churn out of CDMA users is less than 2 per cent.
“We will cover 11,000 cities, 24,000 towns and more than 60,000 villages. We will be covering all railway routes and national highway to give the best and cost affective service to our customers,” said Ambani. Rs 10,000 crore has already been invested in the GSM venture, Ambani said. “Reliance Communication will participate in 3G spectrum auction on both CDMA and GSM platforms, and it will be on the national level,” Ambani said.
Rupee seen watching stock flows for cues December 11, 2008
Posted by dhirendra1972 in Asin Share markets, Foreign funds, Foreign Investors, Local Market.Tags: Funds, Investors, Offshore, Onshore, Rupee, Shares, Stocks, Trade
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Good morning friends. Start of the week again. As usual I’m not missing the chance to know what is happening to the world especially to India.
The rupee may be hesitant in early deals given mixed signals from Asian share markets, with traders looking to see if there is follow up to strong buying of stocks by foreign investors.
* The partially convertible rupee closed at 49.03/04 on Wednesday, 1.1 percent stronger than its previous close of 49.58/59. It rose as high as 48.88 during trade, its strongest since Nov. 17.
* Around 8:40 a.m., Japan’s Nikkei index was down 0.8 percent, Hong Kong’s main index was down 0.1 percent and South Korea’s index was up 0.9 percent.
In Singapore, NIFTY index futures were up 1.3 percent, suggesting a stronger opening for local markets.
* Foreign funds bought a net $238 million of shares in the three sessions to Monday, but are net sellers of $13.6 billion so far in 2008. Last year they had bought a record $17.4 billion.
* One-month offshore non-deliverable forward contracts were quoting at 49.10/25, almost steady compared to the onshore spot rates, a reversal from much weaker rates seen in recent weeks.
ref: yahooindia
