Vodafone Idea’s new tariff plan restricts number portability, Jio tells TRAI
Reliance Jio has urged the telecom regulator to look into Vodafone Idea’s new tariff plans, alleging that it could become a barrier in mobile number portability, The Economic Times reported on December 2.
According to RJio, Vodafone Idea’s move to raise the tariff for its SMS service to Rs 179 from Rs 149 could discourage subscribers, especially entry-level users, who are looking to port to other telecom service providers, the report said.
Jio claimed that the new tariff would mean that a customer, looking to switch telecom service provider, will have to subscribe to an expensive plan in order to send an SMS, which is required to process a porting request.
Gaurav Garg, Head of Research, Capitalvia Global Research: Indian equity benchmarks gained traction with both Sensex and Nifty trading in green terrain. The BSE Sensex 30 index currently trading around the level of 58094. There were 22 stocks advancing against 8 stocks declining on the index. The CNX Nifty is currently trading around the level of 17302. There were 40 stocks advancing against 10 stocks declining on the Nifty index. Among sectors, oil & gas, power and healthcare indices up 1 percent each. BSE small cap index up 0.5 percent.
Domestic sentiment is impacted by the positive cues from other Asian markets. Our research suggests that 57350-57900 levels may act as an important support in the market. We can expect the market to trade till the levels of 58300. Technical indicators also support positivity in the market.
Market update at 2 PM: Sensex is up 488.90 points or 0.85% at 58173.69, and the Nifty jumped 147.10 points or 0.86% at 17314.
Nupur Recyclers IPO to open on Dec 13, 2021
Nupur Recyclers announced that its Initial Public Offering (IPO) of 57,00,000 shares is open for subscription on December 13, 2021, at a fixed price of Rs 60 per equity share.
The minimum lot size for investment is 2000 shares and the minimum investment would be Rs 1,20,000.
The issue will close on December 15, 2021. Investment banks such as Corporate Capital Ventures Private Limited are appointed to manage its public issue.
5paisa.com crosses 20 lakh customer milestone
5paisa.com said that it has crossed the 20 lakh customer milestone within 5 years of its establishment, helped by robust technological platform, 100% digital client acquisition process, affordability and regional focus. This makes 5paisa.com one of the largest brokers in India.
Prakarsh Gagdani, CEO, 5paisa.com said, “This fact is reflected in our pace of customer acquisition – average monthly rate of customer acquisition now stands at 1,25,000 versus 1,000 in 2016. In fact, the quarter ending September 2021 marked our highest-ever quarterly customer acquisition at 3.4 lakh.
5paisa Capital was quoting at Rs 395.25, up Rs 6.90, or 1.78 percent.
Nifty IT index rose 1 percent supported by the Mindtree, L&T Technology Services, Tech Mahindra
Amber Enterprises acquires 73% stake in Pasio India
Amber Enterprises has entered into the definitive agreements with Pasio India and acquired 73% stake in the equity share capital of Pasio, company said in the release.
By virtue of the aforesaid acquisition of 73% stake in equity share capital of Pasio, the Pasio has become a subsidiary of Amber Enterprises India Limited with effect from 1 December 2021, it added.
Amber Enterprises India Limited was quoting at Rs 3,047.65, down Rs 4.55, or 0.15 percent.
Dynacons Systems to set up IT infrastructure for State Bank of India
Dynacons Systems & Solutions Ltd has won one of the prestigious contract from the largest Public Sector Bank, State Bank of India, to provide IT Infrastructure to enable the new age architecture for their NBC project, as per the company’s press release.
Dynacons Systems and Solutions was quoting at Rs 143.75, up Rs 1.25, or 0.88 percent on the BSE.
Market at 1 PMBenchmark indices extended the gains and trading near the day’s high with Sensex gains 500 points.The Sensex was up 511.17 points or 0.89% at 58195.96, and the Nifty was up 150.10 points or 0.87% at 17317. About 1906 shares have advanced, 1059 shares declined, and 123 shares are unchanged.
Tega Industries IPO issue subscribed 7.46 times on Day 2
Tega Industries’ Rs 619-crore initial public offering continues to see healthy demand, with the issue being subscribed 7.46 times by the morning of December 2, the second day of bidding. Investors have bid for 7.13 crore shares against an IPO size of 95.68 lakh equity shares.
Retail and non-institutional investors provided strong support to the issue as portion set aside for them were subscribed 11.95 times and 6.81 times, respectively. Qualified institutional investors bought 7 percent of their allotted share quota.
Lupin partners with TIP pie UK for Soft-mist Inhalation Technology Platform
Lupin Inc., a wholly-owned subsidiary of global pharma major, Lupin has entered into an agreement with TTP pie (The Technology
Partnership pie) to acquire the exclusive worldwide rights to develop, manufacture and commercialize inhalation products using TTP’s soft-mist inhalation technology platform.
Lupin was quoting at Rs 872.40, up Rs 1.15, or 0.13 percent on the BSE.
Hero MotoCorp share price hits 52-week low on weak sales numbers
Hero MotoCorp share price touched a 52-week low of Rs 2,409 on December 2, after the company posted weak sales numbers for November.
Hero MotoCorp sold 3,49,393 units in November 2021 as against 5,91,091 units a year ago, registering a de-growth of 40.89 percent.
The company has sold 3,29,185 units of motorcycles in November 2021 against 5,41,437 units and sold 20,208 units of scooters in November 2021 as against 49,654 units YoY.
In the domestic market, the company sold 3,28,862 vehicles – down from 5,75,957 units – during the period.