This fortnight was dedicated to People’s movement in India led by Anna Hazare’s anti-corruption drive. The remaining spotlight was shared by IPL-4 season of T20 cricket, even as the country digests the pleasant news of ICC World Cup 2011 victory.
At the end of the week, IT behemoth Infosys Technologies hogged the limelight but for all the wrong reasons as disappointing results and resignation of Mohandas Pai from the company. Unfortunately, the stock lost a tenth of its m-cap on Friday. Here’s a round-up of latest buzzing news of the week:
Government mulls BSNL-MTNL merger
I’ve almost lost the count of the number of times the merger plans of state-run telecom firms BSNL and MTNL merger has been shelved out. It is of no secret that both the PSU firms have lagged big time in their performance in the highly competitive telecom industry, which is now dominated by private telecom operators.
In a bid to optimize resources and synergize the business operations of both the state-run telecom companies, the Union government is said to be seriously mulling options to merge BSNL and MTNL to give its customers a nationwide footprint apart from better coverage and services.
Airtel’s 3G handsets below $100
3G is the flavor of the season – something that could well propel the penetration of (mobile) internet into the interiors of the country. Little wonder that Airtel is trying hard to strike a deal with major mobile handset manufacturers to roll out 3G-enabled handsets below the price of $100.
But, in my opinion, it’s not the 3G handsets that is a hindrance for the reach of the fast-speed internet services, but the premium services itself. However, the first step is to bring down prices of 3G-enabled handsets without which 3G services won’t really take off too well.
My question to Readers: Is Airtel really diversifying into handset business or is this step just to boost its 3G services’ reach?
Lokpal Bill draft meeting audio recorded
Even as the effectiveness of the Lokpal law has come up for debate on various forums, the first 10-member joint committee meeting, comprising of five ministers and five civil society representatives, was held today and the bill will be introduced in the monsoon session of parliament.
Moreover, the meeting ended on a cordial note, with the government agreeing to audio-record discussions and hold public consultations on the anti-graft law.
Top Wealth creators and Destroyers
A report points out that Gautam Adani (Adani group) followed by Azim Premji (Wipro), Rahul Bajaj (Bajaj group), Sunil Mittal (Bharti Airtel) and Dilip Shanghvi (Sun Pharma) have been the biggest creator of wealth of fiscal year 2010-11. Ironically, the richest Indian, Mukesh Ambani, was not the biggest wealth creator of the season.
On the other hand, junior Ambani topped the list of wealth destroyers for the last fiscal year, by the virtue of huge under-performance of ADAG stock prices. Savitri Jindal (OP Jindal group) and Saurabh Tayal (Jaybharat Textiles) came next in the list of laggards.