Telecom Sector

SBI sanctions Rs 10000 crore loan to Vodafone

SBI sanctions Rs 10000 crore loan to VodafoneState Bank of India, the country's top lender, has agreed to lend Rs 10,000 crore to Vodafone-Essar, the Indian arm of UK-based telecom firm Vodafone Group to finance the company’s entry into 3G (third generation) telecom services and expansion of its operations.

According to sources, the five-year loan carries an interest rate of 13.25 per cent for the first two years; thereafter, it will be re-adjusted on the basis of the average prime lending rate.

The company intends to use the funds for network rollout, broadband operations, and to pre-pay part of its previous debt.

Telecom, insurance companies allowed to access credit data

CIBILIn line with the stipulations of the credit flow-regulating Credit Information Companies Act (CICA), 2005, the Credit Information Bureau India Ltd - CIBIL - has been granted 'in-principle approval' for Certificate of Registration by the Reserve Bank of India.

The certification allows companies in the telecommunications and insurance sectors to access credit data. Previously, the credit data could be accessed and shared by financial institutions such as banks and NBFCs.

Airtel negotiating a deal about outsourcing ‘last-mile’ broadband connectivity

broadbandThe Bharti Telemedia subsidiary of the telecom giant Bharti Airtel is reportedly negotiating a deal with two infrastructure service providers Cisco and Alcatel-Lucent, related to outsourcing the 'last-mile' connectivity of its broadband operations.

The 'last-mile' concept essentially constitutes the last lap of delivering connectivity from an operator's end to the customer's place. In the case of broadband services, 'last-mile' connectivity can be either through wired lines or over the wireless. By outsourcing its 'last-mile' operations, Bharti will be able to not only reduce its operational costs, but also concentrate on its core competencies.

Bharti Airtel launches new initiative - ‘My Airtel My Offer’ – for Mumbai subscribers

airtelIn its latest move to add to the 'Do Not Disturb' policy, Bharti Airtel has launched its newest one-of-its-kind initiative - "My Airtel My Offer!" Using the service, the Bharti Airtel subscribers in Mumbai, Maharashtra, can enquire about the various ongoing offers to suit their needs, without receiving unwanted SMSs.

The service - which will be made available in English, Hindi and Marathi - can be accessed by dialing the toll-free number 12131. The direct call allows customers to listen to the personalized offers of the day, like best value tariff recharges; validity vouchers; or information about new value-added services.

Sony Ericsson posts 293 million euros net loss; intends slashing 2,000 more jobs

Sony Ericsson Mobile Close on the heels of Nokia reporting its first ever quarterly loss, Sony Ericsson Mobile Communications Ltd has also posted its third straight quarterly loss for the first quarter of 2009.

While pretax loss figures of the company stood at 370 million euros, as against the analysts' estimates of 371 million; the first-quarter net loss was 293 million euros, in comparison to the year-before profit of 133 million euros.

Buy Reliance Communications

Reliance CommunicationsKarvy Stock Broking Limited has maintained 'Buy' rating on Reliance Communications Limited stock to achieve a target of Rs 245 within 1-2 days.

According to Karvy, day traders can buy the stock above Rs 232 with a stop loss of Rs 224.

Shares of the company, on Thursday (April 16), closed at Rs 217.45 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 8.36 and 26.80 respectively. The share price has seen a 52-week high of Rs 608.85 and a low of Rs 131.35 on BSE.