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Tata Teleservices, Adani Green, TVS Motor and more — stocks that are bucking the weak market trend

New Delhi, Feb 6 () Telecom operator Tata Teleservices on Thursday said the Department of Telecom (DoT) has approved the merger of its consumer mobile business with Bharti Airtel. Tata Teleservices listed arm said in a regulatory filing said the DoT through its letter dated February 6, 2020 has conveyed approval of the competent authority in DoT for taking on record demerger of consumer mobile business undertaking of the company into Bharti Airtel Limited (BAL). "The DoT approval is without prejudice to the rights and contentions of the DoT till the telecom petition No. 22 of 2019 filed by BAL which is pending before Hon'ble TDSAT (and appeal, if any, against the Judgement(s) of the Hon'ble TDSAT) is disposed of," Tata Teleservices (Maharashtra) said. Bharti Airtel on July 1 announced that the consumer mobile business of Tata Teleservices Ltd (TTSL) has now become its part.The department, however, did not take the merger on record and asked Airtel to submit a bank guarantee of around Rs 7,000 crore and an immediate payment of Rs 1,287.97 crore before it takes merger of Airtel and Tata's consumer mobile business (CMB) on record.The TDSAT on May 2, 2019 granted partial stay on around Rs 8,287 crore demand raised by the telecom department from Bharti Airtel for approving its merger with the consumer business of TTSL.The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) had ordered the Department of Telecommunications to take on record the merger and approval of the schemes of arrangement by Delhi and Mumbai bench of the National Company Law Tribunal (NCLT). The DoT challenged the telecom tribunal before the Supreme Court and the matter is still sub-judice.Bharti Airtel submitted only Rs 644 crore as directed by the TDSAT to complete the merger.As part of the merger, Airtel has absorbed Tata Teleservices' CMB operations in 19 telecom circles - 17 under TTSL and 2 under Tata Teleservices (Maharashtra) Ltd. It also agreed to take over a small portion of the unpaid spectrum liability of Tata Teleservices.The merger bolsters Airtel's radiowaves pool with additional 178.5 MHz spectrum in 1800, 2100 and 850 MHz bands, widely used for 4G. PRS MBI MKJ

DoT approves Bharti Airtel, Tata Teleservices merger

New Delhi, Mar 31 () Tata Teleservices Maharashtra on Tuesday said that N Srinath has ceased to be the managing director of the company with effect from March 31, 2020. The board of directors has appointed Srinath as additional director (non-executive non-independent) with effect from April 1, 2020, the company said in a regulatory filing. "... this is to inform you that the term of N Srinath who was re-appointed as a managing director and key managerial personnel of the company for a period of two months from February 1, 2020, up to March 31, 2020, ends on March 31, 2020," it said. Accordingly, Srinath ceases to be managing director and director of the company with effect from close of business on March 31, 2020, the filing said. MBI SHWMR

Tata Teleservices Maharashtra appoints N Srinath as additional director

New Delhi, Feb 16 () Telecom operators <keyword id="6354287" type="COMPANY" weightage="20" keywordseo="bharti-airtel">Bharti Airtel</keyword>, Vodafone Idea and <keyword id="6359475" type="DOMAIN" weightage="20" keywordseo="tata-teleservices">Tata Teleservices</keyword> are likely to make payment for adjusted gross revenue (AGR) dues on Monday to avoid stringent punitive action from the Telecom Department, according to an official source. The three companies are jointly liable to pay dues of over Rs 1 lakh crore, but they have informed the Department of Telecom (<keyword id="16054" type="ORGANIZATION" weightage="20" keywordseo="DoT">DoT</keyword>) of making only partial payment, as per their representatives. "Airtel, Vodafone Idea and Tata Teleservices have said that they will make payments on Monday. DoT will take action after evaluating the amount paid by them," an official source told . Earlier on Friday, Bharti Airtel offered the DoT to pay Rs 10,000 crore by February 20, but a DoT official said that the department can't grant any extension. Vodafone Idea on Saturday said that it is assessing the amount that can be paid towards AGR dues, even as it flagged concerns over the continuation of its business. Telecom operators are collectively liable to pay Rs 1.47 lakh crore in AGR dues as per the Supreme Court order dated October 24, 2019. The deadline to pay the amount ended on January 23, but none of the telecom operators, except Reliance Jio, paid the amount. Even state-owned BSNL and MTNL did not pay the dues. As per the last available estimates, Airtel owes nearly Rs 35,586 crore, including licence fee and spectrum usage charges, to the government. Vodafone Idea is staring at dues worth Rs 53,000 crore, which includes up to Rs 24,729 crore of spectrum dues and another Rs 28,309 crore in licence fee. Tata Teleservices owes around Rs 13,800 crore, BSNL Rs 4,989 crore and MTNL Rs 3,122 crore. Out of Rs 1.47 lakh crore, around Rs 1.13 lakh crore is likely to be recovered, as other companies, which are liable to pay AGR dues, have folded up their businesses. <keyword id="46907" type="COMPANY" weightage="20" keywordseo="Reliance-communications">Reliance Communications</keyword> and Aircel are going through insolvency proceedings. The apex court on Friday came down heavily on the Telecom Department for not taking steps to recover statutory dues, estimated to be around Rs 1.47 lakh crore from operators. The DoT issued fifth and final notice to telecom operators on February 14 for making payment on the same day, but none of the companies paid the dues. When asked about telecom operators having sought time to assess the amount they have to pay, the DoT official said that the court gave them three months to do so and even after missing January 23 deadline telecom operators had sufficient time to calculate their dues. "Before the due date, DoT has sent telecom operators 4 notices and reminders to pay to avoid punitive action under license condition. After court order on modification plea, telecom players are not left with any excuse to delay the payment and the DoT can take action against them without serving any further notice," the source said. The apex court pulled up telecom operators and the government on non-payment of AGR dues despite its order. It has asked managing directors and directors of the company to be present in person before court on the next hearing, scheduled for March 17, in case there is violation of its order in the AGR case. Public sector companies, that do not sell telecom services, owe DoT around Rs 2.65 lakh crore, with GAIL India alone owing around 65 per cent of the total amount. However, these PSUs have the option to approach court for a legal recourse.

Airtel, Vodafone and Tatas are expected to cough up spectrum dues on Monday

<ul><li><keyword id="393315" type="General" weightage="20" keywordseo="Jamshed-J-Irani" source="Orion">Jamshed J Irani</keyword>, known as the steel man of India, died in Jamshedpur late Monday night, <keyword id="6357147" type="General" weightage="80" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> said. He was 85.</li><li> Irani was associated with Tata Steel for over four decades.</li><li> He joined the Board of Tata Steel in 1981 and was also a Non-Executive Director from 2001 for a decade.</li></ul>Jamshed J Irani, known as the steel man of India, died in Jamshedpur late Monday night, Tata Steel said. He was 85. Irani was associated with Tata Steel for over four decades. He retired from the board of Tata Steel in June 2011, leaving behind a legacy of 43 years, which won him and the Company international acclaim in various fields. Born on June 2, 1936 in Nagpur to Jiji Irani and Khorshed Irani, Dr Irani completed his BSc from Science College, Nagpur in 1956 and MSc in Geology from the Nagpur University in 1958. He then went to the University of Sheffield in UK as a J N Tata scholar, where he secured a Masters in Metallurgy in 1960, and a PhD in Metallurgy in 1963. He started his professional career with the British Iron and Steel Research Association in Sheffield in 1963, but always yearned to contribute to the Nation's progress. He returned to India to join The Tata Iron and Steel Company (now Tata Steel), as it was then known, in 1968, and joined the firm as Assistant to the Director in-charge of Research and Development. He went on to become General Superintendent in 1978, General Manager in 1979, and President of Tata Steel in 1985. He became Joint Managing Director of Tata Steel in 1988, and Managing Director in 1992 before retiring in 2001. He joined the Board of Tata Steel in 1981 and was also a Non-Executive Director from 2001 for a decade. Besides Tata Steel and Tata Sons, Dr Irani also served as a Director of several Tata Group companies, including Tata Motors and Tata Teleservices. Irani is survived by his wife Daisy Irani and his three children, Zubin, Niloufer and Tanaaz. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/bharti-airtel-reports-89-yoy-increase-in-q2-net-profit-to-2145-crore/articleshow/95207348.cms">Bharti Airtel reports 89% YoY increase in Q2 net profit to ₹2,145 crore</a> <a href="https://www.businessinsider.in/business/corporates/news/lts-q2-net-profit-grows-23-to-2229-cr-margins-soften-on-input-cost-pressures/articleshow/95209063.cms">L&amp;T’s Q2 net profit grows 23% to ₹2,229 cr, margins soften on input cost pressures</a> <a href="https://www.businessinsider.in/business/news/icertis-raises-150-million-to-boost-contract-lifecycle-management-business/articleshow/95209273.cms">Icertis raises $150 million to boost contract lifecycle management business</a>

Jamshed J Irani: The Steel Man of India passes away at 86

As the price competition in India’s telecom space heats up, a number of smaller players are falling by the wayside. <keyword id="6359475" type="COMPANY" weightage="20" keywordseo="tata-teleservices">Tata Teleservices</keyword>, which comprises the <keyword id="6711152" type="UNKNOWN" weightage="20" keywordseo="docomo">DoCoMo</keyword> network and T24 mobile service, posted a net <keyword id="6357392" type="UNKNOWN" weightage="20" keywordseo="loss">loss</keyword> of ₹275 billion ($4 billion) for the financial year 2017-18 - the largest ever loss in a financial year for an Indian company. In addition, another company in the telecom space, Reliance Communications (not to be confused with Reliance <keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword> Infocomm Ltd), posted the second largest annual loss for an Indian company in 2017-18. The company, which is headed by Anil Ambani, reported a loss of ₹239 billion for the year, after ending its wireless operations and offloading its telecom infrastructure to Jio. The free sale to Airtel Tata Teleservices’ net revenue almost halved in 2017-18 to ₹70 billion as it sold off its wireless business. While the company’s operating loss was a relatively paltry ₹6.6 billion, its huge overall loss is mostly due to the fact that it sold its wireless services business to market leader Airtel in October 2017 for <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/tata-teleservices-to-sell-its-wireless-mobile-business-to-bharti-airtel/articleshow/61051618.cms">absolutely nothing</a>, taking a write-off on the entire unit in the process. The debt-ridden wireless business had been making losses for years on end, which is why Tata was looking to exit the unit completely. The unit was originally a joint venture with NTT Docomo, a Japanese mobile operator, which sold off its 26% stake at a considerable loss in 2014. With the pending sale to Airtel, Tata will be able to offload some of its current spectrum payment obligations. The rest of the business? The future of the remaining parts of Tata Teleservices is not completely certain. In March 2018, the former managing director of Teleservices,Mukund Govind Rajan, mounted a $1 billion bid along with TPG, a private equity firm, for the the parts of the business that were unsold - the enterprise communications and fibre segments. However, Tata Teleservices’ parent, Tata Sons, rejected the bid, saying it would merge the business with Tata Communications, its internet provider subsidiary, instead. This is contingent on the approval of the government, which has a 26% stake in Tata Communications. It will probably not be too keen on forking out a proportional amount (around $260 million) to buy the remaining parts of Teleservices. It is still said to be assessing the merger.

India Inc’s biggest loss now belongs to a telco

Riding on tonnes of freebies since its launch in September last year, <a href="http://www.businessinsider.in/searchresult.cms?query=jio&amp;sortorder=effectivedate">Reliance Jio</a> has gained a significant amount of user base. And now <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> backed telecom firm plans to capture 50% of the market in India by 2020. However, <keyword id="2003276" type="UNKNOWN" weightage="20" keywordseo="Jio">Jio</keyword> hasn’t mentioned about the timeframe for this. 
 
Last quarter, <a href="http://www.businessinsider.in/searchresult.cms?query=jio&amp;sortorder=effectivedate">Bharti Airtel</a>, still the number one player in the sector has achieved a market share of 33.1% followed by <keyword id="6354923" type="COMPANY" weightage="20" keywordseo="Vodafone-India">Vodafone India</keyword> with 23.5%, according to brokerage <keyword id="6358584" type="CITY" weightage="20" keywordseo="HSBC">HSBC</keyword>. <a href="http://www.businessinsider.in/searchresult.cms?query=jio&amp;sortorder=effectivedate">Tata Teleservices</a> (TTSL), <keyword id="6360249" type="COMPANY" weightage="20" keywordseo="Aircel">Aircel</keyword> and <a href="http://www.businessinsider.in/searchresult.cms?query=jio&amp;sortorder=effectivedate">Reliance Communications </a>ended with 6.2%, 5.5% and 4%, respectively. 
 <keyword id="4250127" type="UNKNOWN" weightage="20" keywordseo="deutsche-bank-equity-research-asia">Deutsche Bank Equity Research Asia</keyword>, which attended the first analyst meeting held by Jio, said the telco expects India's mobile market will expand by 50% over five years to $45 billion (Rs 3 lakh crore) versus $29 billion (Rs 1.94 lakh crore) currently, as per a news report by The <keyword id="6474066" type="COMPANY" weightage="20" keywordseo="economic-times">Economic Times</keyword>. 
 
In its presentation to analysts, Jio said, industry revenue growth is likely to drive government revenue by 50%. <a href="http://www.businessinsider.in/searchresult.cms?query=jio&amp;sortorder=effectivedate">Jio’s targets have been interpreted </a>by analysts as aggressive. Bank of America’s <keyword id="6374847" type="CITY" weightage="20" keywordseo="Merrill-Lynch">Merrill Lynch</keyword> told the ET, "We note that not many telcos in the world are consistently able to increase average revenue per user (ARPU), a key thing which we think Jio is banking on to help it generate strong revenue/EBITDA.” 
 
(Image <a href="http://trak.in/wp-content/uploads/2016/09/Reliance-Jio-SIM-Cards.jpg">Source</a>)

Here’s how Reliance Jio aims to gain 50% market share by
2020

<keyword id="6354335" type="CITY" weightage="100" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> (RBI), the central banking authority of the country has opposed a pact between the <keyword id="6355725" type="CITY" weightage="100" keywordseo="Tata-Group">Tata Group</keyword> and <keyword id="18313" type="CITY" weightage="100" keywordseo="NTT-Docomo">NTT Docomo</keyword>, which was made to resolve a long standing <keyword id="45001" type="UNKNOWN" weightage="100" keywordseo="dispute">dispute</keyword> between the two. 
 
It was during a hearing in the <a href="http://www.businessinsider.in/topic/Delhi-High-Court">Delhi High Court</a> that <keyword id="4271219" type="UNKNOWN" weightage="100" keywordseo="RBI-opposed-Tata">RBI opposed Tata</keyword>’s decision to pay Docomo, arguing that such payment would amount to transfer of shares, thus rendering it illegal. 
 
The dispute was over the enforcement of a $1.17-billion arbitral award by an international court to Docomo. 
 
Justice S Murlidhar, however, wanted to know if the banking authority could oppose the award's enforcement when both Tata and Docomo had agreed to settle down the matter. Tata group has already deposited the amount with the court, and the next hearing is on March 14. He also added that the case had international implications. 
 
Also read: <a href="http://www.businessinsider.in/is-rbi-regretting-demonetization/articleshow/56537156.cms">Is RBI regretting demonetization?</a> 
 
To this, RBI lawyer Mukund C told the court that any step that led to payment being made to Docomo would set an example, and that Docomo he <a href="http://www.businessinsider.in/This-is-what-makes-RBI-one-of-the-countrys-most-desirable-employers/articleshow/52832249.cms">banking regulator </a>was also concerned that the Japanese company may pursue similar enforcement in the US and the UK if it doesn't succeed in India. 
 
The court held this argument as "absurd, as RBI's writ wouldn't run overseas in any case. 
 
Also read: <a href="http://www.businessinsider.in/Tata-Teleservices-DoCoMo-To-Split-Setting-Stage-For-Negotiations-Over-Valuation/articleshow/38125072.cms">Tata Teleservices &amp; DoCoMo To Split, Setting Stage For Negotiations Over Valuation</a> 
 
"RBI has no jurisdiction outside India," the judge said. "How can you object to enforceability anywhere else in the world? If they (Tata) have assets anywhere else, they (Docomo) can move a court there for the enforcement of the award. There is no law prohibiting it," he added. 
 
When asked if the deal required special permissions, Mukund sought for time to seek instructions about the same. 
 
The case involves <a href="http://www.businessinsider.in/topic/NTT-Docomo">NTT Docomo</a> fighting Tata Sons over the right to sell its stake in the Indian wireless venture for at least half the original value, according to the terms of the 2009 agreement. Even though Tata group said that it was willing to pay the award, Indian rules prohibited it, saying that valuation has to be based on present fair value. 
 
(Image source: IB Times)

RBI opposes Tata’s decision to pay Docomo over two-year long dispute

<keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword>’s appointing of CEOs has been quite different from other companies in India. So the business experts of the country are curious to know who would fill the gap after Mistry’s exit from <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword>. 
 Going by the record, Tata has often appointed outsiders and even foreigners to head its concerns. RK <keyword id="104932" type="PERSON" weightage="20" keywordseo="Krishna-Kumar">Krishna Kumar</keyword> moved from <keyword id="46021" type="PERSON" weightage="20" keywordseo="Tata-tea">Tata Tea</keyword> to Indian <keyword id="6368036" type="PERSON" weightage="20" keywordseo="Hotels">Hotels</keyword> in 1997. Homi <keyword id="3817876" type="UNKNOWN" weightage="20" keywordseo="khusrokhan">Khusrokhan</keyword>, who came from <keyword id="62362" type="COMPANY" weightage="20" keywordseo="Glaxo">Glaxo</keyword>, first headed Tata Tea and then moved to <keyword id="6354310" type="CITY" weightage="20" keywordseo="Tata-Chemicals">Tata Chemicals</keyword>. Firdose Vandrevala, a <keyword id="6357147" type="CITY" weightage="20" keywordseo="Tata-Steel">Tata Steel</keyword> deputy MD was moved to head <keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword> and was also chairman of the board for <keyword id="6359475" type="CITY" weightage="20" keywordseo="Tata-Teleservices">Tata Teleservices</keyword>. Among the current leadership at Tatas, N Srinath who heads Tata Teleservices, headed <keyword id="6370462" type="CITY" weightage="20" keywordseo="Tata-Communications">Tata Communications</keyword> in the past. Anil <keyword id="828638" type="CITY" weightage="20" keywordseo="Sardana">Sardana</keyword>, current <keyword id="3817874" type="UNKNOWN" weightage="20" keywordseo="md-of-tata-power">MD of Tata Power</keyword>, headed Tata Teleservices before Srinath. 
 There have been instances when the CEOs were removed midterm, much like Mistry. Bickson was replaced mid-tenure and <keyword id="2503475" type="PERSON" weightage="20" keywordseo="Rosling">Rosling</keyword> left unexpectedly, and so was the case of Green and Vandrevala. 
 However, <keyword id="6360722" type="PERSON" weightage="100" keywordseo="ratan-tata">Ratan Tata</keyword> always preferred CEOs to have prior experience of heading companies or businesses and opted to move up CEOs from smaller companies to larger ones. 
 
While appointing Ratan Tata’s successor both the search committee and Tata himself chose Mistry amongst 6 other internal candidates. It was then told that Tata himself would mentor Mistry for a year. While the hunt for perfect candidate is still on, it’s kind of a déjà vu for Tata Sons. With hardly any time left to train new CEOs, Tata may be considering another paratrooper.

Ratan Tata’s choice of next CEO deconstructed

Nearly Rs 1,000-crore worth stock of <keyword id="6357585" type="CITY" weightage="20" keywordseo="Tata-Consultancy-Services">Tata Consultancy Services</keyword> (<keyword id="6357150" type="CITY" weightage="100" keywordseo="TCS">TCS</keyword>) are owned by the fired chairman of <keyword id="46894" type="PERSON" weightage="20" keywordseo="Tata-Sons">Tata Sons</keyword> <keyword id="6356895" type="PERSON" weightage="100" keywordseo="Cyrus-Mistry">Cyrus Mistry</keyword>, according to a report by software major's annual. Mistry also owns some percentage in the other companies of the group like <keyword id="42747" type="CITY" weightage="20" keywordseo="Tata-Motors">Tata Motors</keyword>, Indian Hotels, Tata Global, <keyword id="6354310" type="CITY" weightage="20" keywordseo="Tata-Chemicals">Tata Chemicals</keyword> and <keyword id="45008" type="CITY" weightage="20" keywordseo="Tata-Power">Tata Power</keyword>, the report added. Regardless of him being fired as the chairman of Tata Sons, he still is the Chairman of these companies along with some others too. 
 
The stocks that are owned by Mistry is in addition to the 18.5% stake that his family group- Shapoorji Pallonji (SP) Group- owns in Tata Sons. The worth of SP Group’s holding on 1st November was Rs 81,140 crore. 
 SP group also holds Rs 63,158 crore worth of stakes in TCS too and that is a little over three fourth of the total company. The family group of Mr. Mistry also hold a substantial stock like Rs 7,983 crore worth stakes in Tata Motors, RS 1,500 crore worth stakes in Tata Communication, Rs 2,279 worth stakes in <keyword id="237814" type="COMPANY" weightage="20" keywordseo="Tata-Steels">Tata Steels</keyword>, 1,281 crore, Rs 1,281 crore worth stakes in Titan and Rs 1,234 crore worth stakes in Tata Power. 
 
Other than the direct holding in 15 listed companies, Tata Sons has an indirect control over many other companies in which it holds stakes through other companies. 
 <keyword id="6355725" type="CITY" weightage="20" keywordseo="Tata-Group">Tata Group</keyword> also holds majority stakes in many unlisted companies through Tata Sons, ehich weren’t valued. Thses include <keyword id="6359475" type="CITY" weightage="20" keywordseo="Tata-Teleservices">Tata Teleservices</keyword>, IPO-bound <keyword id="94550" type="CITY" weightage="20" keywordseo="Tata-Sky">Tata Sky</keyword>, Tata AIA <keyword id="6406875" type="COMPANY" weightage="20" keywordseo="life-insurance">Life Insurance</keyword>, Tata AIG General Insurance, Tata Mutual Fund and <keyword id="248221" type="COMPANY" weightage="20" keywordseo="Infiniti-Retail">Infiniti Retail</keyword>. 
(image: Indiatimes)

You Searched For "Tata Teleservices" and got 10 results

Tata Teleservices, Adani Green, TVS Motor and more — stocks that are bucking the weak market trend

Bhakti Makwana

DoT approves Bharti Airtel, Tata Teleservices merger

PTI

Tata Teleservices Maharashtra appoints N Srinath as additional director

PTI

Airtel, Vodafone and Tatas are expected to cough up spectrum dues on Monday

PTI

Jamshed J Irani: The Steel Man of India passes away at 86

PTI

India Inc’s biggest loss now belongs to a telco

Dilsher Dhillon

Here’s how Reliance Jio aims to gain 50% market share by 2020

BI India Bureau

RBI opposes Tata’s decision to pay Docomo over two-year long dispute

BI India Bureau

Ratan Tata’s choice of next CEO deconstructed

BI India Bureau

Cyrus Mistry owns Rs 1,000 crore worth TCS shares

BI India Bureau

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