Spice Telecom to float IPO by Nov

Business Standard reports that Spice Telecom is looking at the possibilities of offloading 20% stake through an initial public offering in November this year to raise $200-250 million. BK Modi, chairman, MCorp, which owns 51% stake in Spice Telecom “We are looking at the possibilities of a listing in November and ground preparations, like appointment [...]

Bharti net up 51% in 2005-06

Bharti announced its results for FY 2005-06, reporting a 51% rise in net profit to Rs 2258 crore and growth in revenue by 46% over the previous year to Rs 11,663 crore. With a market capitalisation of Rs 76,000 crore ($16.9 billion), Bharti Tele closed at a price of Rs 407.95 on the BSE. Bharti’s [...]

MTNL net dips by 38%

For the year ended March 2006, MTNL registered a 38.3% fall in net profit to Rs 578.67 crore as compared with Rs 938.97 crore a year ago. Total income was down 4.9% for FY06 to Rs 5,785.57 crore as against Rs 6,084.10 crore last year. While MTNL was allowed a tax refund of Rs 1,233 [...]

XL Tele plans Rs 60cr IPO

Secunderabad-based XL Telecom, an assembly partner and distributor of Kyocera Wireless Corp, is planning an initial public offering (IPO) of around Rs 60 crore in the next few months. Kyocera Wireless is a global manufacturer of CDMA wireless phones. XL Telecom plans to set up an assembly line based on surface mount technology, which is [...]

HTIL Rated Buy: ABN Amro

ABN Amro has put a “Buy” on Hutchison Telecommunications, whose joint venture in India, Hutchinson Essar Telecom, operates under the brand Hutch. Hutchison generates nearly half of its revenues from India. HTIL’s India business accounts for around 72% of estimated NAV; proposed Hutch Essar IPO in 2Q06 will lead to further value crystallization. “Hutch Essar’s [...]