Videocon Telecom has plans to bid for additional 2 MHz spectrum for Punjab and Madhya Pradesh & Chhattisgarh telecom circles in the upcoming auction.The telecom company currently holds 4.4 MHz spectrum in Punjab and 5 MHz spectrum in MP&CG circle. Videocon Telecom director & CEO Arvind Bali said, “We have been contemplating the need for additional spectrum in Punjab and MP/CG telecom circles since there is always a trade-off between deploying additional sites and acquiring additional spectrum”
Electricity regulator to hear Sasan case today
Electricity regulator CERC, will on Thursday, hear Western Region Load Despatch Centre’s petition challenging Reliance Power’s claim of commissioning the first unit of its Sasan ultra mega power project, in Madhya Pradesh. CERC will hear issues related to commercial operation of Sasan plant, according to information available on the regulator’s website. The Western Regional Load Despatch Centre (WRLDC), which operates the power grid in the region, had questioned the start date of commercial operations at the Sasan plant, where the first 660-MW unit was commissioned in March.
Allahabad Bank gets shareholders’ nod for QIP
Allahabad Bank has got the shareholders’ approval for a preferential issue of R400 crore and a Qualified Institutional Placement (QIP) of R320 crore for shoring up the equity base of the lender. At an extra-ordinary general meeting of the bank held here yesterday, the shareholders approved the preferential issue of R400 crore to government against capital infusion. The bank also sought nod of the shareholders to access the market for issue of equity shares through QIP aggregating up to R320 crore in such a manner that government’s holding will continue to be at 55.24% of the total paid-up capital.
‘Investments will gain momentum after polls’
Foreign investments are set to gain momentum after 2014 general elections, but a ‘magic’ work is unlikely for the overall economy in the immediate future, says India Ratings’ chief Atul Joshi. Many foreign investments are being held back as investors are sitting on the fence for a new government to be formed, but their decisions are unlikely to be dependent on any particular party coming to the power and would be mostly made on the basis of governance stability, he said. India Ratings & Research’s MD and CEO, Joshi said, “It will gain momentum and certainly some investments are being held back”.
NSE gears up to ensure compliance