The government has responded to misleading claims regarding recent mobile services tariff hike, saying with three private and one public sector players, the current mobile services market operates through the market forces of demand and supply.
The Telecom Regulatory Authority of India (TRAI) said the rates of telecommunication services are decided by market forces, within the regulatory framework notified by the independent regulator.
“The government does not intervene in the free market decisions as the functionality is under the domain of TRAI and tariffs are under forbearance,” said the regulator.
The TRAI said the telecom service providers (TSPs) have increased the prices of mobile services after more than two years.
Telecom Regulatory Authority of India (TRAI)IANS
“In the last two years, some of the TSPs have invested heavily in rolling out the 5G services across the country. This has resulted into a significant increase in median mobile speed to the level of 100 Mbps and jump in India’s international rank from 111, in October 2022, to 15 today,” the TRAI explained.
While protecting the interests of subscribers, for the orderly growth of the telecommunication sector, which includes investments in latest technologies like 5G, 6G, IoT/ M2M for Industry 4.0 etc., “the financial viability of the sector is important,” said the TRAI.
Before last 10 years, the telecommunication sector was mired in controversies, lack of transparency and therefore, growth of mobile services was stagnant.
“During the last 10 years, due to progressive policies of the government, the rates of telecommunication services be it voice or data, have fallen exponentially,” said the telecom regulatory body.
The data centre market in South India, powered by the cities of Chennai, Bengaluru, and Hyderabad, is projected to experience a significant growth of 65% by 2030, according to a recent report by Colliers India. This growth is anticipated to be propelled by substantial government incentives, strategic infrastructure investments, and a rising demand for digital services.
The combined installed data centre capacity in these three cities currently stands at nearly 200 MW. However, this foundation is set to be significantly bolstered with 190 MW currently under construction and an additional 170 MW planned. These developments are expected to increase the total capacity by 80% over the next few years, underscoring the region’s strategic importance in supporting global digital infrastructure.
Swapnil Anil, Executive Director & Head of Advisory Services at Colliers India, emphasized the potential of South India in becoming a global data centre hub. He stated, With sustained government support and continuous infrastructure development, South India is set to become a global data centre hub.
Chennai, one of the key cities driving this growth, currently has an installed capacity of 87 MW, with 156 MW under construction and 104 MW planned. Bengaluru, leveraging its strong IT ecosystem, has an installed capacity of 79 MW, with 10 MW under construction and 26 MW in the planning stages. Hyderabad, rapidly emerging as a data centre hotspot, has an installed capacity of 47 MW, with 20 MW under construction and 38 MW planned.
The report also highlighted the competitive pricing of data centres in South India. The monthly recurring charges range between Rs 6,650 – Rs 8,500 per kW per month, offering significant value for money. This competitive pricing, coupled with the region’s strategic importance and the government’s supportive stance, makes South India an attractive destination for data centre investments.
The growth of the data centre market in South India is not an isolated phenomenon. It is part of a broader trend of digital transformation sweeping across the country. The ease of doing business, simplified regulatory frameworks, and expedited approval processes are reducing bureaucratic hurdles and encouraging swift project initiation and completion.
Google Workspace bug allows untraceable data theft from Drive files.IANS
Moreover, the integration of advanced technologies such as artificial intelligence (AI) and machine learning (ML) in various sectors is revolutionizing industries and driving the demand for data centres. For instance, the use of computer vision systems in grain inspection, which uses advanced imaging techniques and ML algorithms, is becoming increasingly popular. These systems require robust data centres for efficient operation.
The retail sector is also witnessing a shift towards digital platforms. Brands are aggressively pursuing their own strategies to woo customers. Direct-to-Consumer (D2C) brands like IGP, Zouk, Solethreads, and The Tribe Concepts are ramping up their offerings, building their inventory as well as increasing tech capabilities and marketing functions. This shift towards digital platforms is expected to further drive the demand for data centres.
The data centre market in South India is poised for significant growth in the coming years. The combination of government support, strategic infrastructure investments, rising demand for digital services, and competitive pricing makes the region an attractive destination for data centre investments. As digital transformation continues to sweep across various sectors, the demand for robust and efficient data centres is expected to rise, further bolstering the growth of the data centre market in South India. This growth trajectory underscores the region’s strategic importance in supporting global digital infrastructure, positioning South India as a potential global data centre hub.
As the Indian stock market keeps touching new highs amid a record bull run, over 42.4 lakh new demat accounts were opened in the month of June, the highest account opening rate since February.
In May, 36 lakh new demat accounts were opened, according to data from the Central Depository Service and National Securities Depository. The total demat accounts are now at more than 16.2 crore.
This is the fourth time when new demat openings crossed 40 lakh in a single month. The feat was earlier achieved in December 2023, January 2024 and February this year.
IANS
On Thursday, Sensex and Nifty made a new all-time high of 80,392 and 24,401 respectively. According to market experts, the return of FIIs to the domestic market and the expectation of a rate cut in September are supporting market sentiment.
After a run-up of 7 per cent in the last month, analysts expect the market to consolidate at a higher zone. “In the coming week, we expect stock and sector-specific action as the market starts taking cues from Q1FY25 earnings. On the macro front, investors will look out for inflation data that will be released by India, the US, and China,” said Siddhartha Khemka, Head of Retail Research, Motilal Oswal Financial Services.
Indian market benchmarks — BSE Sensex was down 315 points or 0.39 per cent to 79,610.08 levels while Nifty50 slipped 0.35 per cent or 86 points at 24,238.95.
Tata Motors, ITC were the top gainers while HDFC Bank, Nestle India were the top losers on BSE on Thursday.
SensexIANS
Similarly, Nifty shows Coal India, Tata Motors remained the top gainers while Sun Pharma, HDFC Bank were the top laggards.
However, smallcaps were buzzing in an otherwise weak market as Nifty SmallCap soared 0.28 per cent while MidCap was trading 0.13 per cent higher. Sectorwise, Nifty Realty was the top loser, down over 1 per cent but Auto was the top gainer, up 0.27 per cent.
The Indian benchmark indices ended flat on Monday as the stock markets turned to a consolidation phase due to the absence of major triggers to support the current premium valuation in the near term, prompting investors to book some profits.
The Sensex closed at 79,960.38 points, or 36.2 points down while the Nifty closed at 24,320, just 3.3 points down.
Top Nifty gainers were ONGC, ITC, HDFC Life, HUL and Tata Consumer Products, while losers were Divis Labs, Titan Company, BPCL, and Shriram Finance.
The BSE midcap and smallcap indices ended marginally lower.
According to market watchers, the earnings season is around the corner, and the initial expectation is subdued. With stable input prices and ongoing price cuts, the period of margin expansion appears to be concluding, which is likely to affect earnings and valuations.
The rupee ended flat at 83.50 per dollar on Monday compared to Friday’s close of 83.49.
According to Aditya Gaggar, Director of Progressive Shares, among the sectors, FMCG and energy were the top performers while PSU banks and metal were the major laggards.
“The Railway segment was the star performer of the day as almost all the counters surged over 5-6 per cent,” he said.
According to analysts, as the market trades near all-time high levels, investors and traders can consider maintaining their positions with appropriate stop-loss orders.
“The Nifty remained range-bound during the day, as market participants appeared to be in no hurry to decide the market’s direction. Support remains at 24,240, and a fall below this level might weaken the strength of the bulls,” said Rupak De from LKP Securities.
The benchmark indices opened on a high on Tuesday, with Sensex crossing the 80,000 mark again led by auto and pharma stocks, gaining over 200 points in morning trade.
The NSE Nifty rose by 47 points and was trading at 24,368.
According to analysts, the market attention is now turning towards the Q1 FY25 results.
IANS
The auto index was the best performer, rising over one per cent, while IT stocks slipped ahead of earnings this week.
“The market is expected to remain volatile. Hold your positions with a trailing stop-loss. Any dip will be a buying opportunity as the overall trend remains bullish,” said Mandar Bhojane from Choice Broking.
The markets are likely to further consolidate this week after a phenomenal rally and recovery after elections.
Foreign institutional investors (FIIs) bought equities worth Rs 60.98 crore on July 8, while domestic institutional investors turned net buyers as they bought equities worth Rs 2,866 crore.
On Monday, the benchmark indices ended flat as the stock markets turned to a consolidation phase due to the absence of major triggers to support the current premium valuation in the near term, prompting investors to book some profits.
The Indian benchmark indices hit a fresh all-time high on Tuesday led by auto, pharma and FMCG stocks, with Maruti Suzuki India becoming the top gainer after the Uttar Pradesh government’s announcement of registration tax waiver on strong hybrid cars.
Maruti Suzuki India’s shares surged over 6.52 per cent to Rs 12,807 apiece, after the Uttar Pradesh government announced a complete waiver of registration tax on strong hybrid electric cars (HEVs) and plug-in hybrid electric vehicles (PHEVs) with immediate effect.
The move will benefit Maruti Suzuki’s Grand Vitara SUV and Invicto MPV, along with other automakers like Toyota and Honda.
Apart from Maruti Suzuki, other top gainers were M&M, ITC, Titan Company and Sun Pharma on Sensex, while Bajaj Finance, Reliance Industries, Tech Mahindra, HCL Technologies and JSW Steel.
At the closing bell, Sensex reached 80,351, up 391 points, while Nifty closed at 24,433, up 112 points. Nifty Bank gained 143 points to close at 52,568.
The BSE midcap and smallcap indices also ended on a positive note.
According to market analysts, both domestic and global factors continue to drive the market momentum.
“Currently, consumption sectors like FMCG and auto are leading the gains, buoyed by progress in the monsoon and kharif sowing. Investors are eagerly awaiting the first-quarter earnings results, which will guide market direction,” they noted.
The rupee ended flat at 83.49 per dollar on Tuesday against Monday’s close of 83.50.
Jateen Trivedi of LKP Securities said that the overall focus now shifts to the upcoming budget in India.
“The rupee will take cues from the budget and how the economic outlook will be shaped according to the spending figures presented,” he said.
India has now turn into the world’s third-largest domestic aviation market after the U.S. and China, as airways akin to IndiGo and Air India have expanded their fleet dimension to cater to the surge in air passengers, in accordance to knowledge compiled by aviation analytics agency OAG.
The knowledge present India’s domestic airline capability doubled within the final 10 years from 7.9 million seats in April 2014 to 15.5 million in April 2024 to surpass Brazil and Indonesia and transfer up from the fifth place.
India has changed Brazil, which now stands on the fourth place with 9.7 million airline seats adopted by Indonesia in fifth rank with 9.2 million.
through Twitter/IndiGo
India has additionally posted the very best annual common capability development charge of 6.9 per cent during the last decade among the many high 5 nations, adopted by China at 6.3 per cent and the US at 2.4 per cent.
IndiGo and Air India, which collectively have greater than 1,000 planes on order, account for 9 of 10 domestic seats within the nation.
Air IndiaIANS
According to OAG, India’s transition to low-cost carriers (LCCs) has been the sharpest among the many high 5.
In April 2024, LCCs accounted for 78.4 per cent of Indian domestic capability, adopted by Indonesia at 68.4 per cent, Brazil at 62.4 per cent, the US at 36.7 per cent, and China at 13.2 per cent.
New Delhi, 27 June 2024: Diensten Technologies Limited, often known as DTL, a staffing and IT companies organisation, immediately introduced the launch of its Initial Public Offering (IPO) on NSE. The IPO, which opened immediately and closes on June 28, 2024, marks a major milestone in DTL’s journey.
The IPO includes a complete of 20,97,600 fairness shares, with 7,34,400 shares reserved for retail buyers. The worth band for the IPO has been set at Rs. 95 – Rs. 100 per fairness share, with a minimal lot dimension of 1,200 shares.
DTL was established by promoters Abhishek Sighnia and Vipul Prakash,. The firm specialises in offering IT companies, together with staffing options to shoppers throughout numerous sectors, together with IT, Automobiles, Logistics, BFSI, and Healthcare.
“We are thrilled to announce the launch of our IPO immediately,” says Siva Prasad Nanduri, CEO of Diensten Tech Ltd. “It will empower us to develop our operations, put money into cutting-edge applied sciences, and discover new development avenues. This marks a major milestone in DTL’s journey, and we invite buyers to be a part of our development story”, he additional added.
DTL is supported by a group of Independent and different Directors. Mr. Siva Prasad Nanduri, who leads the administration group, brings vital expertise in IT skilled companies from his tenure at TeamLease, Adecco, and different main organizations. This IPO launch will allow DTL to mark its presence, put money into expertise improvement, and solidify its place within the skilled companies trade.
Driven by the monetary sector, the Indian stock market noticed a sharp rally to shut at an all-time excessive on Tuesday, with the Bank Nifty index breaking above the resistance of 52,000 for the primary time.
The home market skilled a monetary sector-driven rally on Tuesday, primarily led by non-public banks, with the Nifty Bank reaching a brand new excessive and the Sensex surpassing 78,000.
Sensex closed at 78,053 factors, or 712 factors up, whereas Nifty reached 23,721, or 183 factors up.
Axis Bank, ICICI Bank, HDFC Bank, Tech Mahindra and L&T have been high gainers on the Sensex.
According to market watchers, the Bank Nifty is buying and selling in a robust uptrend with greater highs and better lows intact on the every day chart.
IANS
“The help now stands at 52,000, and intraday dips needs to be seen as a shopping for alternative for targets of 53,000/53,500,” stated Kunal Shah from LKP Securities.
According to market consultants, revenue reserving was evident in sectors equivalent to realty, energy, metals and midcaps.
Amid reasonable consolidations and sector rotations, the market is shifting upwards as a result of expectations from the upcoming price range.
Additionally, the progress of the monsoon is being watched for insights into the consumption outlook, stated consultants.
The rupee traded greater by 0.03 at 83.45 towards the greenback, exhibiting slight good points as capital markets remained constructive with help from the banking and monetary sectors and fund flows into these areas.
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