PRICE AUCTIONS
Union Bank of India attracts bids for 5 troubles accounts out of 25 put on sale
Union Bank of India received bids from asset reconstruction companies (ARCs) for five of its 25 non-performing asset (NPA) accounts, including Jaypee Healthcare, Saraiwwalaa AGRR Refiners, and RCM Infrastructure. Bids aim to recover 15% to 89% of outstanding loans. The bank will use a Swiss auction process to finalize sales.
Government may be on target on telecom revenues despite weak auction
The Department of Telecommunications (DoT) is expected to earn around Rs 1.20 lakh crore in revenue receipts this fiscal, with state-run BSNL contributing significantly, despite a tepid response to the recent spectrum sale. The government is likely to retain its revenue target from the telecom sector in the upcoming budget, with estimates suggesting a significant portion will come from past auction dues, spectrum usage charges, and licence fees.
1970 Lamborghini Miura kept in living room for 40 years can fetch $2.5 million at auction. Details here
A rare 1970 Lamborghini Miura, once a living room fixture, heads to auction. Designed by Marcello Gandini, it’s a sought-after classic with historical allure and potential for significant restoration costs.
Reliance Jio takes the lead, hikes tariff by 12-25 per cent; Airtel & Vi likely to follow suit
Mobile phone bills are set to increase as Reliance Jio Infocomm announced a 12-25% hike in tariffs starting July 3. This marks the first major rate increase by a telecom company since 2021. Bharti Airtel and Vodafone Idea are expected to follow suit. The hike aims to boost average revenue per user (ARPU) in light of significant 5G investments. Jio’s rate hikes will affect most plans, but not JioBharat or JioPhone users.
BSNL to monetize prime land parcels in Mangalore; eyes Rs 39 crores reserve price
Bharat Sanchar Nigam Limited (BSNL) has announced the monetization of its land parcels in Mangalore in an effort to bolster its financial standing. The two-acre land parcel adjacent to Kadri Park at Store Yard, near Kadri Hills on Park Road, is set for e-auction. The reserve price is set at Rs 39 Crores with an Earnest Money Deposit (EMD) of Rs 1.95 Crores.
5G spectrum auctions: Bharti Airtel likely largest bidder, govt mops up around Rs 11,300 crore
India's second 5G spectrum auction concluded around Wednesday noon after seven rounds, lasting just over a day, with the government collecting approximately Rs 11,300 crore. Bharti Airtel is likely the largest bidder, acquiring airwaves in the sub-GHz 900 MHz band as well as in the 1800 and 2100 MHz bands. Market leader Reliance Jio likely bought 5G bandwidth in the 1800 MHz band.
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Jio acquires additional spectrum in 1800 MHz band for Rs 973 cr in two circles
Reliance Industries has secured additional spectrum in the 1800 MHz band for Bihar and West Bengal in a recent spectrum auction. The acquisition aims to meet geography-specific demand and ensure a high-quality customer experience. The total cost of the spectrum is Rs 973.63 crore. The acquisition expands Jio's spectrum footprint to 26,801 MHz and enables the company to deploy the largest amount of spectrum across India on bandwidth-efficient technologies like 4G and 5G.
Telcos bid for 5G worth ₹11,000 crore on first day of India's second spectrum sale
All three private carriers — Reliance Jio, Bharti Airtel and Vodafone Idea – are believed to have bid for sub-GHz (900 MHz) and select mid-band airwaves (1800 MHz, 2100 MHz) as they look to bolster their respective 5G spectrum holdings. High-band 5G airwaves in the 26 GHz band appear to have been given a miss on the opening day of the airwaves sale. In this year’s auction, the government has put 10.5 GHz of 5G spectrum in eight bands — 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3.3 GHz and 26 GHz — worth around Rs 96,238.45 crore at reserve prices on sale.
5G auction: All you need to know about Rs 96,000 crore spectrum battle
5G auction: India is gearing up for its latest 5G airwaves auction starting Tuesday, valued at over Rs 96,000 crore. Telecom giants like Reliance Jio, Bharti Airtel, and Vodafone Idea will compete for crucial radio frequencies essential for 5G services. The previous auction in August 2022 set a record with the government earning Rs 1.5 lakh crore.
Auction of 5G spectrum worth over Rs 96,000 cr starts
India's second 5G spectrum auction began on June 25, 2024, with bids from Reliance Jio, Bharti Airtel, and Vodafone Idea. The auction, offering spectrum worth Rs 96,238 crore, excludes pricey sub-GHz bands. Analysts anticipate a low-key affair with modest government revenue, as telcos plan limited purchases.
Rs 96,000-crore spectrum auction of 5G airwaves to kick off today
India's 5G airwaves auction starting Tuesday is expected to be subdued, with telecom giants having adequate holdings and low consumer 5G adoption. Analysts predict Reliance Jio, Bharti Airtel, and Vodafone Idea will collectively spend around Rs 12,500 crore, focusing on renewals and selective acquisitions. Interest costs for deferred payments are higher this year, with Airtel likely to be the top spender.
Special call auctions to aid holding companies price discovery, narrow discounts
Sebi introduces special call auctions for price discovery of holding companies, narrowing the market-book value gap. Stocks like Kalyani Investment trade at 60-85% discount to book value.
Combined fall in tea production in north India till June-end seen at 60 Mkg less than in same period last year
Sandeep Singhania, President, Tea Association of India stated that the Production figure of North Indian Tea Industry reflect a precarious state of affairs in the industry, consequent to the constant onslaught of insufficient rainfall and excessive heat, hampering production of the crop to a great extent during the current cropping season up to the month of May 2024.
Airtel prepays Rs 7,904 crore to clear 2012, 2015 spectrum dues
Bharti Airtel has prepaid Rs 7,904 crore to the telecom department, clearing the remaining part of the payment relating to spectrum bought in 2012 and 2015 auctions. This move will lead to interest cost savings and help Airtel save on interest costs annually and boost cash flows as its nation-wide 5G rollout nears completion.
Centre may seek nod for coal exchange
The coal ministry is expected to seek approval for India's first coal trading exchange as part of its 100-day action plan. The exchange aims to facilitate transparent coal trading for both captive and commercial auction holders, potentially leading to better prices for consumers. Surplus stock from Coal India Ltd may also be traded on the exchange. The ministry's plan includes upgrading coal transportation and loading systems, adding 600 MW of thermal power capacity by NLC India Ltd, and bidding out around 10 coal gasification projects.
Jyotiraditya Scindia takes charge as Minister of Communications
Union Minister of Communications Jyotiraditya Scindia has emphasized the importance of the telecom division and India post division on both a global and local level. Scindia, who has previously served as civil aviation minister in the Modi cabinet, pledged to deliver according to the Prime Minister's aspirations and the 140 crore people of the country. He also highlighted the challenges of overseeing India's 5G spectrum auction, retaining India's three-private player telecom market structure, and ensuring the survival of Vodafone Idea, the government's largest stakeholder.
Modi 3.0: Industry seeks roadmap to cement India's lead in global digital arena, vows support
The Digital Infrastructure Providers Association (DIPA) has expressed full support for India's digital and telecom transformation under the new government, emphasising the need for a clear roadmap to solidify the country's leadership in digital infrastructure. DIPA highlighted the success of initiatives like Digital India and PM WiFi Access Network in enabling broad digital adoption, with Director General Tilak Raj Dua stressing the industry's readiness to collaborate with the government.
RBI accepts bids of over Rs 7,200 cr for bond buyback
The RBI accepted bids worth ₹7,287.56 crore in a government bond buyback auction out of ₹30,000 crore offered by the Centre.
RBI accepts bids worth Rs 7,287.6 cr in Rs 30,000 cr bond buyback auction
Last month, after a six-year hiatus, the RBI resumed conducting buyback auctions on behalf of the government. However, the government has only repurchased a small portion of the bonds offered, as both the Centre and the RBI have been reluctant to accept bids from banks at very high prices or low yields.
Lenders hope to recover at least 50% of Go First dues by auctioning land parcel
Go First Dues: Lenders will hold an auction of a land parcel measuring 94.7 acres at Thane in Mumbai on July 22. Lenders have stated that the land parcel is being sold to recover Rs 3918.5 crore. The reserve price of Rs 1965 crore equates to 50% recovery for banks.
RBI, govt accept no bids at first sovereign green bond auction of FY25
With the Centre sitting on a considerable cash surplus at the moment, it had likely opted to cancel the green bond auction than settle for a lack of a premium, or “greenium” at the auction. The government had planned to raise Rs 6,000 crore through 10-year green bonds at Friday’s auction.
Voda Idea says it’s in talks with Ericsson and other network vendors for buying 5G gear, shares jump 12% on BSE
Earlier this week, Ericsson India MD Nitin Bansal had told ET that the Swedish gear maker is hopeful of getting some 4G/5G deals from Vi soon, especially after the beleaguered telco recently raised over Rs 20,000 crore via the equity route.
More valuable than gold: Feather of this New Zealand bird sold at record price
A feather from an extinct New Zealand bird has been sold by an auction house for a whopping amount, smashing all estimates and setting a record, according to recent reports.
Despite offer of new securities, govt bond buybacks yet to come to life
At the buyback auction on Tuesday, the RBI accepted bids worth Rs 5,266.04 crore as against the aggregate notified amount of Rs 60,000 crore worth of bonds that the government had offered to repurchase.
Go First's creditors to auction pledged land parcel in Thane
Creditors are set to auction a prime 94-acre land parcel in Thane near Mumbai, previously collateral for loans taken by Go First Airlines. The auction process involves major creditors and potential bidders amidst evolving legal challenges and financial considerations.
Lithium miners shake up trading to tackle wild price swings
Rising demand from EVs and batteries has changed the perception of lithium from a niche metal into a closely-tracked commodity which attracts investment.
Making greatness priceless with price
The auction of Eric Clapton's 1974 000-28 Martin acoustic guitar, starting at $500,000, highlights the value of possessions of the famous and gifted, acknowledging their contributions. It's less about diminishing the brilliance of artists, scientists, writers, musicians, and innovators by valuing their personal belongings solely based on price tags, but rather about recognizing their worth in the most objective way feasible.
Spectrum sale: Limited airwaves, huge investments discourage new entrants, say analysts
Analysts point to a lack of spectrum availability in key bands, coupled with high initial investment requirements of $16 billion for 5G airwaves and network rollouts, as key reasons why no new bidders have applied for the upcoming spectrum auction in Kolkata. Existing operators like Reliance Jio and Bharti Airtel have already deployed countrywide 5G networks, further deterring new entrants due to the significant costs involved.
Production of tea down all over India by 13 million kg
Tea industry in season 2024 faces challenges with production declines, weather issues, and financial stress. Darjeeling sector seeks relief package for survival amidst declining yields and prices.
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