Opening bell: Asian markets little changed; RCom, Reliance Jio, oil marketing firms in news2 min read . Updated: 04 Oct 2017, 07:59 AM IST
While half of RCom’s spectrum in two bands are set to expire in 2021, according to CLSA, Reliance Jio is set to make big gains from IUC cut, says HSBC
Asian stocks little changed in morning trade
Reliance Communications Ltd’s (RCom) plan to monetize its spectrum assets and pare debt has little chance of succeeding as about 50% of the company’s 800MHz and 1800MHz spectrum is set to expire in 2021, reports Mint, citing a note from CLSA.
The telecom regulator’s call to cut interconnect usage charge (IUC) by as much as 57% and scrap it altogether from January 2020, is likely to trigger a sharp jump in Reliance Jio Infocomm’s operating margins over the next one year, brokerage HSBC said, reports The Economic Times.
Prabhat Dairy Ltd is aiming to double its consumer business of packaged milk and value-added dairy products by FY2020, reports Mint. The company estimates its consumer business to be worth Rs2,000 crore by financial year 2019-2020, the report adds.
After years of negotiations and feasibility studies, Gujarat Mineral Development Corp. Ltd (GMDC) and National Aluminium Co. Ltd (NALCO) have decided to drop the Rs5,400 crore alumina refinery, reports Business Standard.
Even as the south-west monsoon withdraws from North-West India, continuing rains to the south of the Vindhyas are seen spoiling the harvest of kharif crops such as maize, pulses and cotton, while boosting the prospects for the upcoming rabi season, reports The Hindu Business Line.
Domestic sales of two-wheelers has perked up by 9% in September due to festive demand, reports Business Standard. India’s biggest two-wheeler maker, Hero MotoCorp Ltd breached the monthly mark of 700,000 units to sell 720,739 units in September, the report adds.
Keep an eye on shares of oil marketing companies. The central government cut excise duty on petrol and diesel by Rs2 a litre to tame rising inflation and to shield consumers from the surging price of auto fuels.