Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / MVL forays into telecom, forms separate entity
BackBack

MVL forays into telecom, forms separate entity

MVL forays into telecom, forms separate entity

Premium

New Delhi: MVL Group, a diversified business house having interest in real estate and consumer electronics announced its foray into telecom by launching a separate company called MVL Telecom Limited on Wednesday. On the occasion, group’s chairman, Prem Adip Rishi also announced an operational investment of around Rs400 crore over after sales services and research and development activities.

The company has also launched eight mobile handsets that range between Rs1,400 and Rs5,000. “The company would spend the entire Rs400 crore over the next six months. Apart from this investment, the company will also open warehouses at 27 locations apart from its master warehouse at Bhiwadi."

He added, “Its first plan will come at Bawal in the north. The company at a later stage may also start manufacturing other IT peripheral products. But as of now we would focus only on the mobile handsets."

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 23 Jun 2010, 09:37 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie