DoT exploring BSNL-MTNL merger for their survival

-

The pressure of huge losses and competition has forced consolidation in the PSU telecom space as Department of Telecom is currently working on a proposal for merger of its two ailing PSUs - BSNL and MTNL - to revive the state-owned telecom firms.




The BSNL-MTNL merger is "one of the many components" of the overall revival plan being worked out for the two corporations, a source said on Tuesday, adding that a final call on the matter will be taken by the Union Cabinet.

The plan includes the MTNL being merged with the BSNL. 

The MTNL provides telephony services in Delhi and Mumbai, while BSNL is present in the rest of the circles. 

The move assumes significance as both have been making losses and have faced challenges in clearing staff salaries in the recent past. 

The Department of Telecom is preparing a survival plan for the MTNL and the BSNL in the form of a revival package that entails components like voluntary retirement scheme, asset monetization, and allocation of 4G spectrum.

BSNL's estimated losses are Rs 14,000 crore in 2018-19 on the back of revenue that fell to Rs 19.308 crore in the same fiscal. It has 1.65 lakh employees and their costs make up 75 percent of the company's total income. 



Best Share Market News, Click Here To Get More News - Stock Market tips, for 2 Days Free Trial give a missed call @9644405057 and Get Share Market Services.

Comments

Post a Comment

Popular posts from this blog

Daily equity Market By Ripplesadvisory Report 16-Aug-2016

-
MARKET WRAP UP The Sensex and Nifty jumped over one per cent on Friday and were headed for their second session of gains, led by energy stocks, including Reliance Industries Ltd, as oil prices extended their rally. Domestic sentiment was also buoyed on continued buying by investors ahead of IIP and inflation data scheduled to be released later in the day. US stocks closed at record highs on Thursday as surging oil prices and strong earnings buoyed investor sentiment, giving a boost to Asian markets. Dealers said widening of positions by participants ahead of key economic data —— industrial production (IIP) for June and consumer price index (CPI) for July —— to be released after market closing today also added to the upbeat investor sentiment. At 3.05 pm, the Sensex was up 315.38 points or 1.13 per cent at 28,174.98 while the NSE Nifty was up 85.7 points or 1.00 per cent at 8,677.85. Sentiment also got a boost as foreign investors continued to buy Indian shares for a...
Read more

Axis Bank agrees to buy to payments wallet provider FreeCharge for $60 million

-
Image
Axis Bank Ltd, India's seventh-biggest lender by assets, said on Thursday it had agreed to buy mobile payments wallet provider FreeCharge from e-commerce company Snapdeal for 3.85 billion rupees ($60.04 million). Most valuable Financial Advisory with the name of accurate tips provider here invites you to trade in a financial market with risk-free work click here for more >>  http://www.ripplesadvisory.com/free-trial.php "Digital payments in India are surging. Government policies are driving a less-cash economy," Axis Bank finance chief Jairam Sridharan told a news conference after announcing the deal.
Read more

Axis Bank Declines after Reporting Tepid Q4 Results

-
Image
For more Live premium stock future Visit Us:- http://ripplesadvisory.com/premium-stock-future-.php or Get Free Trials Just Call @96-44-40-50-56. Axis Bank declined 1.72% to Rs 508.40 at 9:40 IST on BSE after net profit dropped 43.13% to Rs 1225.10 crore on 4.33% rise in total income to Rs 14181.31 crore in Q4 March 2017 over Q4 March 2016. The result was announced after market hours yesterday, 26 April 2017. Meanwhile, the S&P BSE Sensex was down 29.63 points or 0.1% at 30,103.72. On the BSE, 5.08 lakh shares were traded on the counter so far as against the average daily volumes of 9.17 lakh shares in the past one quarter. The stock had hit a high of Rs 525 and a low of Rs 503.60 so far during the day. The stock had hit a 52-week high of Rs 638 on 7 September 2016 and a 52-week low of Rs 424.60 on 10 January 2017. The stock had outperformed the market over the past one month till 26 April 2017, rising 5.74% compared with the Sensex's 2.42% rise. The sc...
Read more