Telecom Secy directs DoT officials to expedite projects

The Department of Telecom has faced several delays in processes in case of mergers and acquisition guidelines, installation of mobile towers in Left Wing Extremist affected states and so on.

In view of various projects missing deadlines, Telecom Secretary MF Farooqui has directed DoT officials to cut down on delays and clear cases that have been pending for six months.

"It was observed that wings where the pendency is quiet high should chalk out a plan to clear the pendency. It was decided that by the next meeting, all cases pending for more than six months should be disposed of," said the minutes of a meeting chaired by Farooqui early this month.

The Department of Telecom has faced several delays in processes in case of mergers and acquisition guidelines, installation of mobile towers in Left Wing Extremist affected states and so on.

The Telecom Secretary has asked the officials concerned to simplify and streamline process related to licences, applications and other related matters.

"All divisions of DoT may review the levels of submission so as to restrict them to minimum level prescribed in manual of office procedure... This exercise may be completed by end April," the minutes said.

Farooqui has asked officials to re-engineer processes which have public interface to expeditiously complete work.

"This exercise needs to be taken up in all divisions of DoT but initially by all wings having public interface such as licensing, wireless finance etc. Online applications and processing, online payments etc. may be introduced," the minutes said.

Farooqui has asked officials to prepare communication plan for schemes that have direct impact on public.

"Details of media plan segment-wise ie TV, Print, Internet and mobile should also be chalked out separately," the minutes said.

DoT also decided to review present status of non-linking DoT website with social media platform like Facebook, Twitter and others within the limit of guidelines issued by government on use of social media.

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SC dismissed PIL seeking CBI probe against Sahara

"We are dismissing the petition but it will not come in the way for petitioner to approach the High Court," it said. The petitioner, Vishwanath Chaturvedi, contended that land, which was meant to develop park and playground, was illegally allotted to the group.

The Supreme Court today refused to entertain a PIL seeking probe by CBI and ED in an alleged illegal transfer of 270 acres of land in Lucknow by state government to Sahara India 20 years ago.

A bench headed by Chief Justice R M Lodha dismissed the PIL and expressed concern over such petitions being in the Supreme Court.

"Don't bring such petition in the Supreme Court," the bench, also comprising justices M B Lokur and Kurian Joseph said.

It, however, allowed the petitioner to approach High Court in the matter.

Also read:  Sahara eyes Rs 750cr from sale of 2 Maharashtra properties

"We are dismissing the petition but it will not come in the way for petitioner to approach the High Court," it said. The petitioner, Vishwanath Chaturvedi, contended that land, which was meant to develop park and playground, was illegally allotted to the group.

"It is respectfully submitted that the State Government acquired large tracts of agricultural land of several villages in Tehsil & District Lucknow from farmers for public purpose.

Out of the aforesaid acquired land, 270 acres of land which is the subject matter of present petition was illegally transferred to Sahara India though the land use of the same was demarcated under the Lucknow Master Plan as green belt, play grounds, parks etc," he said.

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Shareholder count dips at Adani firms; FIIs up stake

Share price of three listed firms of USD 8.7 billion Gujarat-based Adani group may be on a roll, but they have surprisingly recorded a dip in the number of their shareholders in the first quarter of 2014.

The combined market value of the three listed firms - Adani Enterprises ,  Adani Power and  Adani Ports and Special Economic Zone - has grown by nearly Rs 40,000 crore to over Rs 1 lakh crore since the beginning of this year.

According to the latest shareholding data disclosed by these firms, the percentage holding of foreign institutional investors (FIIs) also rose in these companies during the quarter ended March 31, 2014.

However, the total number of their shareholders - including domestic and foreign investors - has declined for the same period.

Also Read: Adani says got no special favours from Modi

The number of shareholders in Adani Ports declined from 2,99,082 in December quarter to 2,88,664 in January-March period.

In Adani Power, the total number of shareholders came down to 2,50,732 from 2,59,476 in October-December quarter, while in Adani Enterprises it fell from 41,787 to 37,629.

In contrast, the FII holding in Adani Enterprises rose to 20.87 percent from 20.77 percent, while in Adani Power it went up to 6.84 percent from 6.54 percent.

Similarly, overseas investors' ownership in Adani Ports rose from 17.38 percent to 17.48 percent.

Market experts have mostly attributed the recent rally in Adani stocks to various opinion polls giving an edge to BJP's Prime Ministerial Candidate Narendra Modi in the ongoing general elections.

Modi is Gujarat Chief Minister and his opponents have accused him of favouring Adani group, a charge denied by the BJP leader as well as the business house.

Adani Group chief Gautam Adani has said he got no special favours from Modi and his group has since 1993 acquired only barren waste land for infrastructure projects.

The ports-to-energy Adani Group began acquiring land near the coastal town of Mundra in Gujarat way back in 1993 and only one-third of the total landbank of 15,946 acres was acquired when Modi was Chief Minister, he said.

In his political meetings, Congress vice president Rahul Gandhi has been often talking about alleged largesse to industrialists like Adani to attack Modi. Besides, Aam Aadmi Party's Arvind Kejriwal has also been attacking Modi with similar charges.

Stocks of Ahmedabad-headquartered Adani Group, especially Adani Enterprises, have been on a roll, surging over three-fold, since the BJP announced Gujarat Chief Minister Narendra Modi as its prime ministerial candidate for the 2014 Lok Sabha elections on September 13 last year.

The group's business interests in Gujarat include a port and thermal power project in Mundra.

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Idea to spend Rs 3,500 cr in networks; 3G in Delhi by 2015

In the spectrum auction held in February, the company won 5 megahertz of spectrum in 900 MHz band in Delhi service area which it will use to launch 3G services in the national capital next year.

Telecom operator  Idea Cellular today said that it will invest Rs 3,500 crore in building network and launching 3G service in Delhi next year.

"The capex guidance for FY 2015 stands at Rs 35 billion, excluding any spectrum related payments," Idea Cellular said. Idea rolled out 3,178 2G cell sites and 1,477 3G cell sites during the the fourth quarter of the last fiscal, taking the network site count for 2G to 104,778 and 21,381 for 3G sites.

In the spectrum auction held in February, the company won 5 megahertz of spectrum in 900 MHz band in Delhi service area which it will use to launch 3G services in the national capital next year.

Also read: Idea Q4 beats street, net up 26%; data volume drives growth

"The company intends to launch 3G services in Delhi in calendar year 2015 on the recently acquired 900 MHz spectrum. Post Delhi 3G service launch, the 3G foot-print of Idea will cover about 80 percent of its current revenue and about 57 percent of national mobile industry revenue," a company statement said.

At present, Idea has permit for 3G services in 11 service areas - Maharashtra, Gujarat, Andhra Pradesh, Kerala, Punjab, Haryana, Uttar Pradesh East and West, Jammu and Kashmir, Madhya Pradesh and Himachal Pradesh. Idea recently got approval to start 3G services in Punjab.
 
The company also won 1800 MHz spectrum, widely known as 2G spectrum, in 8 service areas along with additional GSM spectrum in 7 service areas. The company has plans to use 1800 Mhz spectrum for 4G services.

Idea said that with total spectrum holding, it now has capability to launch 4G services in 8 service areas -- Kerala (10MHz), Maharashtra & Goa, Andhra Pradesh, Karnataka, Madhya Pradesh & Chhattisgarh, Punjab, Haryana and North East (5 MHz in each) "The actual timing of 4G services launch would be based on the consumer demand, technology stabilisation and competitors move. These 8 service areas represent about 58.1 percent of Idea revenue and an opportunity of upgrade to LTE service to existing 74.7 million Idea subscribers," the company said.

Idea Cellular today posted over 91 percent jump in consolidated net profit at Rs 589.77 crore for the last quarter of 2013-14 on the back of expansion in both voice minutes and mobile data volume.

The company had posted a profit after tax of Rs 308.18 crore for the same period a year ago.

Idea Cellular stock price

On April 28, 2014, Idea Cellular closed at Rs 140.75, up Rs 0.25, or 0.18 percent. The 52-week high of the share was Rs 188.35 and the 52-week low was Rs 115.40.

The company's trailing 12-month (TTM) EPS was at Rs 4.34 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 32.43. The latest book value of the company is Rs 42.25 per share. At current value, the price-to-book value of the company is 3.33.

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Microsoft warns of security flaw in Internet Explorer

Microsoft has warned users of a security flaw in its Internet Explorer browser that allows  hackers on the same network as much access as a legitimate user.

Using the vulnerability, an attacker could take complete  control of the system and then install programmes, view, change, or delete data, or create new accounts with full user rights.

"Microsoft is aware of limited, targeted attacks that attempt to exploit a vulnerability in Internet Explorer 6, Internet Explorer 7, Internet Explorer 8, Internet Explorer 9, Internet Explorer 10, and Internet Explorer 11. The vulnerability is a remote code execution vulnerability," it said in a blogpost.

Also read: Microsoft targets $50 bn affordable mobile devices market 

The vulnerability exists in the way that Internet Explorer accesses an object in memory that has been deleted or has not been properly allocated, it added.

Though the share of Internet Explorer has dropped significantly over the last few years as browsers like Google Chrome and Mozilla Firefox gained traction, but it still remains the browser of choice for many netizens.

This could be troubling news for PCs still running on Windows XP operating system as they will not receive any updates fixing the bug when it is released as Microsoft stopped supporting the 13-year-old operating system earlier this month.

"On completion of this investigation, Microsoft will take the appropriate action to protect our customers, which may include providing a solution through our monthly security update release process, or an out-of-cycle security update, depending on customer needs," Microsoft said.

It added that the company is actively working with partners to provide information that can be used to provide broader protections to customers.

"Microsoft continues to encourage customers to follow the guidance in the Microsoft Safety and Security Center of enabling a firewall, applying all software updates, and installing antimalware software," it said.

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France says could block Alstom deal as president meets GE

France will block any deal involving engineering group Alstom it considers unfit, Economy Minister Arnaud Montebourg said ahead of a meeting between President Francois Hollande and General Electric's chief executive to discuss Alstom's future.

The meeting between the French head of state and the boss of one of the world's 10 largest publicly-quoted corporations follows a weekend of political and corporate drama, in which Alstom's German rival Siemens proposed a swap of assets to counter a potential Alstom-GE tie-up. GE CEO Jeff Immelt arrived at the presidential palace at 0720 GMT - flanked by Clara Gaymard, the head of GE France - and said "bonjour" to reporters before entering the Elysee.

Also read: Alstom T&D India bags euro 8.4 mn contract from PowerGrid  

Hours before the meeting, Montebourg said France would block any deal it considered unsuitable in terms of the long-term interests of the French company, its employees and the economy.

But he stopped short of calling for Alstom's nationalisation if neither GM's offer nor a rival one from Germany's Siemens proved acceptable.

Montebourg and Hollande will also meet with Siemens' CEO Joe Kaeser, he added. This will then be followed by a meeting with Martin Bouygues, the billionaire chairman of family conglomerate Bouygues, Alstom's largest shareholder with a 29.4 percent stake.

"We are working to improve the offers to make sure that French companies ... do not become prey," Montebourg told RTL radio. "On the other hand we are open to alliances that help to equip us for globalisation.

"For the time being we are in discussions with two parties, General Electric and Siemens. They have two offers that would allow to adopt different industrial strategies."

Immelt arrived in Paris aiming to hammer out a USD13 billion deal to buy Alstom's power turbines business, after news of talks between the French trains-to-turbines group and the U.S. industrial and financial group late last week.

His arrival coincided with French political uproar over the potential loss of a national champion and the emergence of a rival proposal involving Siemens.

Meetings at the Elysee with Siemens and Bouygues were respectively scheduled for 1600 GMT and 1715 GMT on Monday.

ASSET SWAP

The German company, like Alstom, makes high-speed trains and other rolling stock as well as power station turbines, and is proposing a swap of assets that would make Alstom a more significant rail transport player while enhancing its own turbines and power grid equipment business.

Alstom needs a partner one way or another. Suffering from heavy debts and a downturn in orders, it was bailed out by the French government in 2004. Sources familiar with the GE-Alstom talks that came to light late last week say they have been going on for months and are very advanced.

Montebourg, who threatened to nationalise blast furnaces belonging to steelmaker ArcelorMittal when its owner tried to shut them down, said the Siemens proposal would create "two European and global champions".

And he warned that the government on which Alstom relies for much of its business would not accept the sale of Alstom's power business - especially the sensitive nuclear portion - in haste.

Asked if he could seek to temporarily nationalise Alstom if neither offer proved suitable, Montebourg told RTL: "It's too early to raise that question."

Labour Minister Francois Rebsamen, asked if nationalisation remained an option, told France Inter radio: "I think nothing is out of the question at the moment."

GE has declined to comment throughout. Alstom has also declined to go into detail about its discussions, but said in a statement on Sunday it would ask for a suspension of its shares until Wednesday while it considers its options. Siemens said on Sunday it had written a letter to Alstom about strategic opportunities but also did not go into detail.

Alstom shares, which had slumped earlier this month to a near nine-year low, jumped at the end of last week to reach their highest in five months.

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Microsoft slashes XBox 360 price by 12% to Rs 21,990

These consoles were earlier available for Rs Rs 24,990 (250GB) and Rs Rs 34,890 (Kinect), the statement added.

Microsoft India today slashed the price of its gaming console XBox 360 250GB by 12 percent to Rs 21,990. It has also reduced the price of the XBox 360 250GB Kinect by 8.3 percent to Rs 31,990.

"We are committed to offer great experiences to our consumers at compelling price points. This price drop on 250GB Sku?s, coupled with our recently launched Xbox Live Gold Rush promo, will provide great value to our community of fans and gamers," Microsoft India Director (Interactive Entertainment Business) Anshu Mor said in a statement.

Also read: Microsoft's Xbox One sales cross 5 million

These consoles were earlier available for Rs Rs 24,990 (250GB) and Rs Rs 34,890 (Kinect), the statement added. The consoles are currently available in the market with additional freebies like free games and Xbox Live Gold membership.

The price drop, however, is limited to the 250GB Xbox consoles and does not extend to the 4GB Xbox 360 and 4GB Kinect.

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AI to launch scheme to fill up vacant business class seats

Aiming at filling up vacant business class seats, Air India today launched a scheme where a domestic economy passenger can upgrade to Executive Class after paying Rs 5,000 or Rs 7,000 over and above the original ticket price.

The upgrade scheme, open to domestic passengers holding revenue tickets in economy class including the cheap advance purchase fares, would be available only at the airport before check-in, subject to executive class seat availability and on first-come, first-serve basis.

The scheme, called 'Get Up Front', which is valid till October 31, would be available for travel to 43 cities, including Delhi, Mumbai, Kolkata, Chennai, Bengaluru and Hyderabad, an Air India spokesperson said.

While a passenger travelling a distance of up to 750 kms would have to pay Rs 5,000 for the upgrade, while those flying over 750 kms, the fixed charge would be Rs 7,000, he said.

Also read:  Air India seeks bridge loan of $500 million

If a passenger books an economy Delhi-Mumbai ticket well in advance paying about Rs 5,000, he or she can upgrade to Executive Class by paying another Rs 7,000, taking the total fare to Rs 12,000, which turns out to be much cheaper than an original Executive Class ticket worth over Rs 25,000. Filled-up business class seats are a key revenue earner for an airline's business.

A similar upgrade scheme is already available on Air India's international sectors till June 31, the rates for which depends on the sector and the distance of travel.

In some domestic sectors where the airline operates a full-economy aircraft, Air India would reserve the first three rows and offer premium service to the upgraded passengers.

The national carrier also offers an advance purchase fare scheme in various slabs on the 237 holiday packages to 125 domestic tourist and religious destinations to attract leisure and holiday travellers.

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Snapdeal aims to triple seller base to 1 lakh this year

Homegrown e-commerce major Snapdeal aims to more than triple its seller base to 1 lakh in the next 12 months as increasing number of SMEs turn to the Internet to increase sales.

Snapdeal has 30,000 sellers on board and most of them are small and medium enterprises.

"On any given day, we get about 1,000 enquiries and about 15-20 percent of them get added and this is happened mostly based on word-of-mouth from existing sellers," Snapdeal.com co-founder and CEO Kunal Bahl said. 

"In the next 12 months, we are confident of having one lakh sellers on board. We already have 30,000 now, the largest for any marketplace in India," he added.

Also read:  Snapdeal.com acquires Doozton.com

Lifestyle (apparels) and electronics accounted for a bulk of its seller base.

Bhal said: "For SMEs, generally its a life of stagnation as business is more or less the same every month. But online, they have access to national audience and this increases their business manifold. About 93 per cent of India is SMEs and Internet is a great platform for them to connect with consumers."

Snapdeal has sellers from 200 towns and expects it to grow to about 500 this year.

"We are seeing good addition in south India, states like Andhra Pradesh, Tamil Nadu and Karnataka as well as places like Gujarat," Bahl added.

Asked about the steps Snapdeal is taking to bring more sellers on board, Bahl said the company follows a partnership model to ensure that sellers make money.

"We do not charge them for listing and we make revenue only when they sell. We also provide them adequate training. Most importantly, we are a marketplace and do not have our own products to compete with our sellers. That is a huge benefit that our sellers see," he said.

Citing an example, Bhal said an apparel maker has to make investment to set up a portal and on various payment gateways and even then, there is no surety that he will be able to direct traffic to the website.

"We offer analytical tools for them to know their sales velocity and how are they doing compared to other sellers in the same category in terms of pricing, shipping time and consumer ratings. This helps them tweak their offer in real time and making important business decisions," he said.

Asked if the company has witnessed any churn of sellers given the other marketplaces that have come up, Bahl answered in negation.

"Sellers feel the difference when they interact. We have not seen any attrition of sellers," he said.

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Below normal monsoon in India likely to impact GDP

If mood at the Dalal Street on Friday and then on Monday is to go by, the below normal monsoon in India could present the first major hurdle for the incumbent government post Lok Sabha Elections.

After losing 188.47 points on Friday, the Bombay Stock Exchange sensex fell over 56.46 points on Monday as funds and retail investors indulged in booking profits at prevailing levels amid forecast of below normal monsoon this year.

Brokers are of the view that the current selling spree is mostly of a profit-booking nature, by participants at current levels amid forecast of below normal monsoon this year, which is influencing the traders sentiments at the moment.

"We believe it would be premature to factor in weak agriculture production and maintain agriculture gross domestic product (GDP) growth estimate at 3.3%. But if El Nino conditions are fully factored in, the agriculture GDP growth may be lower by 250-300 basis points (bps), and the average retail inflation may be 100 bps higher", said a report published in the Livemint Website that quoted Kotal Institutional Equities.

In the report, the Kotal Institutional Equities further said that India experienced the impact of El Nino conditions in FY2010 with agriculture GDP registering 1% growth. They maintained that agriculture GDP growth of 3.3%; worst-case scenario: 0.3-0.7% growth. With most of the production critically dependent on July-August rainfall, we maintain our FY2015 agriculture GDP growth estimate at 3.3% for now.

The Kotal Institutional Equities cautioned that if they were to factor in weak monsoons (similar to FY2010) then it is likely that:

A. For FY2015, the overall GDP growth estimate would be lower by 40-50 bps (current estimate: 5.1%).

B. Agricultural GDP growth estimate would be lower by 250-300 bps (current estimate: 3.3%).

C. The average consumer price index (CPI) inflation would increase 100 bps (current estimate: 7.6%).

Photograph by ILRI

By: Skymetweather.com

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