Inspite of the major campaigns that the firm keeps on launching every now and then, Idea, internet and mobile service Provider Company is seeing a fall in the profits. They have seen a fall of a…
Tags: India Share market, India Shares
idea cellular
On Tuesday, there was a decline in the shares of Idea Cellular. It slumped by over 7 per cent in early trade on the Bombay Stock Exchange. This happened after the telecom firm was charged with a Rs 300 crore fine over supposed violation of M&A norms.
Idea Cellular has been charged for breaking merger and acquisition norms by the Additional Solicitor General (ASG) of India. It has imposed tough penalties including a Rs 300 crore fine and termination of 3G spectrum licences in four circles along with the 2G licences in six circles.
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Idea Cellular telecom Company, owned by Aditya Birla Group has posted more than expected net profit in the recent quarter. The company has earned net profit of Rs 243 crore in the third quarter ended December 2010. It has posted a rise of 43% rise in net profit from Rs170 crore in the year ago period. While revenue, grew by 26 per cent. BSE recorded the stock at Rs72.05, up by 3.97%.
Indus Tower is a joint venture in which Vodafone Essar and the Bharti Group own 42 per cent each and Idea Cellular has 16%.
Tags: India Share market, India Shares
Idea Cellular and Vodafone India are the leading telecom companies in the country who will come up with the Mobile Number Portability facility first. They have already started their campaign to attract the customers form their rival companies to switch to their network. Both the companies are trying to market their products aggressively with some frantic marketing moves.
Mobile Number Portability service will allow the mobile users to switch to another service provider without changing their existing number. The subscribers can avail this service on 20th of January this year.
Tags: India Share market, India Shares
