Telecom Sector

Sujana Towers plans to raise $ 75 million after approval from Board of Directors

Sujana Towers Limited has announced that the company has secured board approval to issue foreign currency convertible bonds (FCCB), global depository receipts (GDRs) and /or American depository receipts (ADRs) for an aggregate sum of USD 75 million.

Hyderabad-based, Sujana Towers manufactures structural steel products in India. It offers galvanized steel towers used in telecom and power industries.

Last month, the company posted earnings for the third quarter ended September 30, 2007. For the quarter, the company has posted profit after tax of Rs. 127.3 million and EPS of Rs. 3.27.

Hike FDI Cap In FM Radio Stations To 26%, Says TRAI

The Telecom Regulatory Authority of India (TRAI) said has suggested raising foreign direct investment limit in private FM radio stations from 20% to 26%, and also permitting them to broadcast news.

The private FM radio companies will be capable of broadcasting news capsules if the Ministry of Information and Broadcasting (I&B) approved these suggestions.

The foreign holding, comprising institutional investment for FM radio, may go up to 26% for news broadcasting and 49% for non-news broadcasting. Presently, foreign holding stands at 20% for both.

R-COM Arm Gets Approval For CDMA Services In Assam & North East

Anil Ambani-led, Reliance Communications has announced that the Government of India Ministry of Communications & Information Technology has granted in principle approval to Reliance Telecom Ltd (RTL), a wholly owed subsidiary of the Company, for providing CDMA services also under the existing Unified Access Service Licenses (UASL) granted to RTL for Assam and North East Service Areas.

Huawei Bags Rs 2,000 Cr Deal From RCom

Huawei Technologies, China-based telecom company, has bagged a nationwide GSM roll-out contract worth Rs 2000 crore from Reliance Communications (RCom).

The equipment deal to Huawei is the initial countrywide GSM roll-out contract for electronic equipment.

After the electronics contract, RCom would award more deals under other equipment categories over the next few weeks, sources said.

When contacted an RCom spokesperson declined to comment.

Recently RCom has got permission from the government to provide GSM services on a pan-India basis.

Idea Cellular registered 108% increase in Q3 Net profit

Idea Cellular Ltd, a part of the US $ 24 billion Aditya Birla Group has announced its un-audited results for the third quarter and nine months ended 31 December 2007.

The company has posted a 108.11% increase in consolidated net profit to Rs 236.77 crore for the third quarter ended December 31, 2007 compared to Rs 113.77 crore in same quarter last year.

The total revenue of the group grew 48.36 per cent to Rs 1710.31 crore for the quarter ended December 31, 2007, as against Rs 1152.80 crore for the same period a year ago.

Dhanus Technologies Signs Share Purchase Contract With Turkish Firm, Stock up 8%

Dhanus Technologies Limited, a leading communication service company has announced that it has entered share purchase agreement with Borusan Holding A.S for the 100% acquisition of the Borusan Telekom.

However, Turkey's first alternative telecom operator with 'A' type license, subject to the company obtaining the necessary approval(s) and clearance(s) from the various authorities, an official release said.