Mobile Financial News

By Jonathan Stempel

telecom tariffs are amongst the lowest in the world as a percentage of per capita gross national income (GNIpc), and the country's telcos have enough headroom to raise prices by at least 1.5x over the next 4-5 years, industry executives and analysts said. GNIpc is the dollar-value of a country's final income in a year divided by its population.

power generation and distribution company Torrent Power is planning to raise up to Rs 650 crore through the issuance of non-convertible debentures (NCDs), as per officials aware of the development. The company is considering issuing the NCDs in tranches of two years, three years, and five years, market sources said. Torrent Power is expanding operations in the green energy segment and may use the proceeds to fund the same. Axis Bank and Barclays are likely the arrangers of the issue, they added.

Investing.com — U.S. futures traded lower Tuesday, with investors consolidating after a stellar year ahead of the release of key manufacturing activity data.

Airtel Africa on Tuesday announced the retirement of Chief Executive Officer Olusegun `Segun’ Ogunsanya, with effect from July 1, 2024, and named Sunil Taldar as his successor.

housing demand in India. The affordable housing segment, by virtue of being in the smaller ticket segment, is relatively less rate-sensitive than the mid and luxury segments. Rate hikes of 250 bps in a short period of less than a year have had some impact on the consumer's psyche and we did see some degree of postponement in purchase when the cycle was underway.

Rakesh Deshmukh, cofounder of PhonePe-owned app discovery platform Indus Appstore, formerly IndusOS, has stepped down from his role as chief executive and left the company. Deshmukh, along with IIT Bombay alumni Akash Dongre and Sudhir Bangarambandi, founded Indus OS in 2013. Through its app marketplace App Bazaar, the platform allowed users to discover and access mobile applications in their own language.

Motilal Oswal Financial Servicespointed out the seasonality is likely to hurt revenue growth and margin performances of both tier-1 and tier-2 IT companies. "The industry has not witnessed any meaningful change in spending patterns, as discretionary spending continues to pause enterprises. Although sentiment has improved, it has not yet been reflected in actions," Motilal Oswal said.

Day trading guide for today: on account of late selling in Indian stock market on Monday, key benchmark indices of Dalal Street pare most of its intrada gains on first trade session of 2024. Nifty 50 index ended 10 points higher at 21,741 levels. BSE Sensex added 31 points and closed at 72,271 mark whereas Nifty Bank index went off 57 points and finished at 48,234 levels.

Meta Quest 3 and 2, providing a virtual escape to Netflix, Prime Video, and beyond. This guide unveils the steps to install these streaming apps, transforming your VR headset into a private cinema. Meta Quest 2 and 3 not only deliver captivating VR gaming experiences but also serve as an alternative space for enjoying movies and shows on a grand scale. Embrace cable-free standalone VR, liberating you from the need for a PC or mobile device.

Vodafone Idea Ltd’s stock rose to a 52-week high on New Year’s Day to ₹18.42, amid news reports claiming that the government could sell its 33% stake in Vodafone Idea to tech-billionaire Elon Musk and his satellite internet venture Starlink collaborating with the carrier. Securities and Exchange Board of India (Sebi) sought a clarification from India’s third-largest telecom service provider on the development. Though the stock saw huge delivery based buying over the two sessions , the Vodafone Idea futures contract didn’t witness much of a change in positions, indicating that traders in the futures segment might not have been as euphoric as those in the cash segment.

Bharti Airtel Services, a wholly-owned subsidiary of Bharti Airtel, has entered into an agreement for the acquisition of 49.45 lakh shares or 97.1 per cent stake in Beetel Teletech, another Bharti Group company, according to a filing. Pegging the cost of acquisition at Rs 669 crore, the filing said this acquisition is a part of the company's strategy to enable indigenisation initiatives within its own ecosystem of telecom products in line with the Government's policy of 'Make In India' and add distribution and service capabilities (including system integration) largely for the enterprise business.

Tata Motors, a leading global automobile manufacturer, Monday reported that its total domestic sales increased by 4% to 76,138 units in December 2023 The Mumbai-based automaker dispatched 72,997 units to its dealers in December 2022. The company has reported a 9% increase in its total Passenger Vehicles (PV) sales, including electric vehicles, in the domestic market at 43,470 units in December 2023 as compared to 40,043 units in December 2022.

TOKYO—Big Japanese investors stumbled disastrously into the U.S. commercial real-estate market in the late 1980s, when they bought high-profile properties like New York’s Rockefeller Center not long before the market fell hard. Now some Japanese institutional investors and real-estate companies are back—but this time it isn’t about flaunting trophy purchases.

Hyundai Motor India achieved the highest-ever domestic sales in the calendar year 2023, surpassing the six lakh sales milestone. The automaker recorded sales of 6,02,111 units, registering a 9 per cent increase over the previous year's 5,52,511 units. Additionally, Hyundai Motor India elevated its export performance by 10 per cent, shipping 1,63,675 units in 2023 compared to 1,48,300 units in the previous year. In December 2023, Hyundai Motor India achieved total sales of 56,450 units, comprising 42,750 units in domestic sales and 13,700 units in exports. «HMIL has not just kept pace but surpassed industry growth (estimated at around 8.2%), a testament to customers choosing brand Hyundai as their preferred mobility brand,» said Tarun Garg, Chief Operating Officer, Hyundai Motor India. «Also, in 2023, we proactively expanded our annual production capacity by 50,000 units to meet the increasing demand from our customers.» The automaker presently operates from 1,366 sales points and 1,548 service points across India. The model line-up consists of 13 car models across segments: Grand i10 NIOS, i20, i20 N-Line, AURA, EXTER, VENUE, VENUE N-Line, VERNA, CRETA, ALCAZAR, TUCSON, KONA Electric and all-electric SUV IONIQ 5. Its fully integrated, state-of-the-art manufacturing plant near Chennai boasts advanced production, quality, and testing capabilities.

Reuters. While hosting senior military leaders on Sunday at the ruling Workers' Party (WPK) headquarters, Kim pointed out that hostile manoeuvres by the enemies pose the danger of an armed confrontation on the Korean peninsula. This situation makes it mandatory for the country to "sharpen the treasured sword" to protect itself, said Kim.

₹18.42 apiece on BSE Monday. Today’s rally in Vodafone Idea shares comes after the stock spiked 20% in the previous session. Vodafone Idea shares have risen more than 114% in the past six months, doubling investors’ money.

‘Mistake that…’: N. Korea's Kim Jong Un on seeking reunification with S. Korea In a meeting on Sunday with commanding army officers, Kim said it is urgent to sharpen “the treasured sword" to safeguard national security, an apparent reference to his country’s nuclear weapons program.

inflation remains a worry. ET asked a galaxy of experts to make one prediction each for 2024, the early part of which will be dominated by the general elections. But it’s also a year when the Indian economy is set to cross the $4 trillion mark. Not too surprisingly, in our 24 Predictions For 2024, the most dominant theme was the impact of Artificial Intelligence on businesses and lives, but India’s economic potential figured as strongly.

₹10,000 crore—more than $1 billion (about ₹8,300 crore) —and I don’t think we’ll need to take that figure up further. Will local electronics manufacturing in India need concerted efforts to create a component supply chain now, given that we’re assembling a sizeable amount? Even China, which controls 70-72% of the global value chains (GVCs), makes a value addition that is in the low two-digits. Even they, for exports exceeding $1 trillion, import $650-700 billion in components.