Indus Financial News

optical fibre in the country has increased six-fold since the launch of 5G services last October to 101, 550 kilometers a month from the average 16, 712 kms in the lead up to the roll out of services based on the next gen technology. Despite this, fibre penetration to telecom towers, which is critical for effective 5G services, in India is 38.44%, significantly lagging the 70% tower fiberisation target set by the government and lower than developed markets where 5G has been launched, experts said. “The 5G rollout has had a significant impact on the pace of digital and telecom infrastructure development in India,” TR Dua, director general, Digital Infrastructure Providers Association of India (DIPA) told ET. The total length of optical fibre laid out as on June 30, 2023 was 3,726,577 kms, as compared to 2,812,627 kms as on September 2022 end, according to data provided by DIPA. While tower fiberisation has picked up pace since the rollout of 5G, industry executives are in consensus that fibre penetration needs to ramp up significantly to be able to reap the full benefits of 5G services. Tower fiberisation is critical to 5G services as it helps provide full utilisation of network capacity and carry large amounts of data once 5G services are rolled out. “With growing data demand and emerging technologies like Industry 4.0, constant network expansion and robust 5G connectivity will be crucial, presenting a significant opportunity for (companies like) Indus Towers,” Prachur Shah, managing director and chief executive, Indus Towers, India’s largest tower company, said. Before 5G rollout, fibre penetration was at around 35% and has now moved to around 38.44% according to data provided by DIPA.

1. Asahi India Glass Asahi India Glass surpassed its 50-day SMA of 522.05 by closing at Rs 558.7 on August 25.2. Century Plyboards Century Plyboards exceeded its 50-day SMA of 647.77 by closing at Rs 663.3 on August 25.3. Indus Towers Indus Towers achieved a closing price of Rs 168.35 on August 25, surpassing its 50-day SMA of 166.83.4. Cholamandalam Financial Holdings Cholamandalam Financial Holdings slightly exceeded its 50-day SMA of 923.16, closing at Rs 929.95 on August 25.5. Galaxy Surfactants Galaxy Surfactants showcased strength, closing at Rs 2690.15 on August 25, surpassing its 50-day SMA of 2674.29.6. Bharti Airtel Bharti Airtel achieved a closing price of Rs 873.5 on August 25, slightly exceeding its 50-day SMA of 871.84.7. Privi Speciality ChemicalsPrivi Speciality Chemicals crossed its 50-day SMA of 1080.19, closing at Rs 1080.95 on August 25. (Disclaimer: This is an AI-generated article.

COVID they will accept a few more rounds of investment before they plan the listing," says Sushil Choksey, Indus Equity Advisors.With Qatar Sovereign Fund's investment into Reliance Retail, I mean, the retail valuation has gone up 2x in about three years. Do you think this move could act perhaps as a soft floor to Reliance Industries, if not significant upside?It certainly establishes a value that everybody in the research reports have read that Reliance Retail would be valued at 1300, 1400, 30 times sales or 33 times EV to EBITDA, so various numbers based on growth patterns and number of outlets they have established so far. Based on what I can make out, Qatar, is it the first investment which they have accepted or like three years back in COVID they will accept a few more rounds of investment before they plan the listing. So, how Mukesh Ambani's speech on AGM on Monday, 28th, pans out on this direction that needs to be seen but it is definitely a direction that now three years are done for the previous round of investment, which had come in at half the value than what current round has happened so Reliance Retail future looks promising because these people will be investing more and more money in rolling out more outlets, more formats. Now Jio Financial will be supporting all the retail distribution and marketing in terms of financing and the competitors have, so the growth path is very open and looks like Reliance Retail firmly establishes the value which all the brokerage reports have indicated so far in the region of 1300. But it is good that the market is established with a dollar check which is put in the balance sheet and it sustains from here and grows faster from the current value.This deal in a sense is only

Reliance Industries: Jio Financial Services is being removed from several FTSE Indices for failing to commence trading after 20 business days. A notice shared by FTSE Russell said that the company had also not announced a firm trading date since its inclusion on July 20. The omission will come into effect from August 22.

Nykaa, HDFC AMC, Indus Towers, Page Industries, ACCNykaa, HDFC AMC, Indus Towers, Page Industries and ACC have been excluded from Nifty Next50 in the latest revision of various NSE indices.Yatharth HospitalYatharth Hospital reported 73% year-on-year growth in its consolidated net profit at Rs 19 crore for the quarter ended June.Read more: What changed the market while you were sleepingConcord BiotechThe shares of Concord Biotech will debut on the exchanges today.

ACC Ltd. ACC 2 FSN E-Commerce Ventures Ltd. NYKAA 3 HDFC Asset Management Company Ltd.

Aurobindo Pharma, IIFL Finance, JSW Energy, Godrej Properties, Tata Chemicals, among others were among the stocks that mutual fund houses bought and sold the most within the segment during the month of July. The Nifty Midcap 100 index rallied 5.5% in July, outperforming the benchmark Nifty that gained nearly 3% during the month.

Indus Towers, the country’s top telecom tower company, has claims worth Rs 14,243.3 crore against it under litigation in various courts across India, according to its latest regulatory filing on the BSE. In Indus’s case, pending litigations include a Rs 3,565.7 crore claim by the Service Tax Department relating to disallowance of Cenvat credit availed on inputs, capital goods and input services for the pre-GST period following an adverse Bombay High Court ruling on the premise that towers and shelters are immovable property.

India could achieve a $40-$100 billion space indus... moreIndia could achieve a $40-$100 billion space industry by 2040, driven by increased budget, private sector involvement, and satellite internet growth, Arthur D.

Search giant Google is celebrating the 77th Independence Day of Pakistan with a special doodle. The Doodle artwork features The Indus River dolphin, a toothed whale species that is endemic to Pakistan.

Telecom infrastructure major Indus Towers on Friday said its macro tower installations grew by 6.3 per cent year-on-year to achieve the milestone of 2 lakh units across all 22 telecom circles in India as of date. The company had reported an installed tower base of 1,98,284 at the end of the June 2023 quarter.

Indus Towers Limited, has deployed 200,000 macro towers spread across all 22 telecom circles in India as on date, the company said in a statement Friday. With the 5G rollout currently being undertaken by Reliance Jio and Bharti Airtel, the tower firm will continue to keep pace in providing telecom infrastructure, it added.

maritime boundaries between the two countries are somewhat blurry, fishermen have been caught in the net of authorities from both India and Pakistan. – This sets in motion a flurry of diplomatic activity where both governments push for the early release and repatriation of those languishing in jails.

Brand India enjoys liable to misuse? PM Narendra Modi's well-known flair for wordplay, using alliteration and other rhetorical devices, was given another airing when, during the parliamentary deadlock over the violence in Manipur, he took a dig at the opposition combine, which has adopted the acronym INDIA, and pointed out that the word 'India' has often been used as guise, or camouflage, by all manner of entities engaged in various kinds of nefarious activities. In support of his claim, he cited examples as diverse as the Indian National Congress, set up during the Raj under the auspices of Alan Octavian Hume after the 1857 uprising as a 'safety valve' and a counter-revolutionary sop to further British imperialism, and terrorist organisations such as the Indian Mujahideen and the Popular Front of India.

Analyst downgrades in earnings estimates of Indian companies for FY24 outnumbered that of upgrades in the past four weeks after the June quarterly results. Out of the Nifty 100 companies, 41 including UPL, Tech Mahindra, Vedanta, SRF, ACC, Grasim, and Tata Steel, among others, witnessed Earnings Per Share (EPS) downgrades for FY24, while 32 saw upgrades.

NITI Aayog released its national Multidimensional Poverty Index (MPI) for 2023. The big takeaway was that between 2015-16 and 2019-21, about 135 million people were lifted out of poverty. A few weeks earlier, PRICE, an independent not-for-profit think tank, released its latest consumer survey.

Vodafone Idea (Vi) faces hefty payouts of Rs 4,300 crore towards debt and 5G airwave instalments in the current September quarter, which is likely to impact its future payments to Indus Towers, especially if the loss-making telco fails to close its long pending fundraise quickly, said IIFL Securities. “Basis Vi’s disclosures, it faces large payouts in 2QFY24...of the estimated Rs 4,300 crore outgo, Rs 2,600 crore is towards debt repayments (maturing) and a Rs 1,700 crore instalment related to 5G spectrum, which may exert pressure on payments to Indus, unless Vi raises funds,” IIFL Securities said in a note.

ITC: Cigarettes-to-hotel major ITC Ltd held its investor conference call on July 27, 2023. The chairman and managing director, Sanjiv Puri, explained the reason why the company chose to retain a 40% stake in the demerged ITC Hotels. Puri said, the demerged entity to have a 'royalty-like' arrangement for use of the other ITC brands and assets.

Indus Towers Q1 Results: Indus Towers announced its April-June quarter results for fiscal 2023-24 (Q1FY24) on July 27, reporting a surge of 182 per cent in consolidated net profit at ₹1,348 crore, compared to ₹477 crore in the corresponding period last year. The company's revenue from operations during the first quarter of current fiscal stood at ₹7,075 crore, up almost three per cent, compared to ₹6,897 crore in the year-ago period.

Sukkur in Sindh, kidnapped two women and a child, and killed at least two men. This is only the latest in a long line of atrocities committed against the people of Sindh in Pakistan, The Express Tribune reported. The Express Tribune saw the assailants, who were apparently carrying modern weaponry, riding motorcycles past the Sangi police station and heading into the village of Nirch in broad daylight.

DK Shivakumar is the richest MLA in the country with assets worth ₹1,413 crore, according to the ADR report.  However, a BJP MLA from West Bengal has the lowest assets worth ₹1,700 in the country. Among the richest MLAs in India, four legislators belong to Congress, while three are from the Bharatiya Janata Party (BJP).