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The Mint Report for 16 November 2011

The Mint Report for 16 November 2011

File Photo

India’s top phone company has indicated it believes the industry needs consolidation. Sanjay Kapoor, who’s Bharti Airtel’s CEO for India and South Asia, said consolidations would improve margins. India’s telecom industry is characterized by low rates and cut-throat competition.

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With the value of the rupee plunging almost everyday, authorities could decide to intervene. On Wednesday finance minister Pranab Mukherjee said the Reserve Bank was monitoring the situation and would act if necessary. Earlier, RBI had said it would intervene in currency markets only to deal with volatility.

And finally, a check on the markets. Indian bourses ended in the red for a fifth day in a row. The Sensex ended at 16776 lower by 107 points. And the Nifty ended at 5030 lower by 38 points.

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