Jio seeks zero interconnection charge while rivals seek hike: Reliance Jio has proposed that interconnection usage charges should be zero, while rivals Airtel, Idea, and Vodafone sought to raise them. In a meeting with TRAI, incumbents pitched for doubling of charges from the current 14 paise per minute. This is because telcos feel current charges benefit Jio, which is choking their networks by landing large number of free calls.
Keep an eye on this development. This is how it will play out:
1) If charges are reduced or withdrawn, Airtel, Idea stocks will down and Ril up,
2) If it stays it’s a moral win for Airtel and Idea so moderate gain in stock but Ril can go down.
Govt: Likely to impose anti-dumping duty on certain type of synthetic rubber. Benefit for #IOC, #RIIL, #Apcotexind and bad for tyres industries.
#Lupin recalls 12,480 bottles of anti-depressant drug from US …bad for lupin
#IDBI gets shareholders’ nod to raise up to Rs 10,000 crore.
Indigenous tech for biofuels may emerge soon.
InFocus #KEI To set up manufacturing plant for LT power and control cables Est Cost Rs 45 – 50 Cr.
BHAGERIA INDUSTRIES: Has got approval from the Maharashtra Energy Development Agency for commissioning of entire 30 MW capacity, including the balance 10 MW capacity, of its Solar PV Power Plant in Ahmednagar.
THE BYKE HOSPITALITY: Foreign portfolio investors can now invest up to 40% in the company, up from 24% earlier, the Reserve Bank of India has notified.
PRICOL: Has signed a new licensing agreement with US-based Kerdea Technologies for oxygen sensors for the Indian market.
Stocks to watch:
Positive: #Bhageria #Pricol #Byke
