Amid technology adoption across the board, startups in most sectors are helping to expand markets bringing new customers into the fold, instead of disruption of existing companies, according to a latest report. BofA Securities note described India as a supply constrained market (rather than demand constrained), and said Jio s launch of 4G services at affordable prices had underlined that at a value for money proposition, consumer uptake picks up. Past calls and meetings with India s leading experts and top startups in the unlisted space had fortified the view that India internet sector is at an inflexion point to witness hyper-growth in the coming years, the report Internet - India and ASEAN: Disruptive Tech said.
Bharti Airtel has raised U. S.$750,000,000 on 03 March 2021
through allotment of Unsecured Senior Fixed Rate Notes i.e. U. S.$750,000,000 3.25 per cent.
Senior Notes due 2031 (Notes) to the eligible investors pursuant to Rule 144A and
Regulation S of the US Securities Act, 1933 and the applicable laws. The Notes shall be listed
on the Singapore Exchange Securities Trading.
Further, the allotment of U. S.$ 500,000,000 3.975 per cent. Subordinated Perpetual Securities
has also been completed by Network i2i Limited, a Mauritius based wholly owned subsidiary
of the Company. The Perpetual Securities shall be listed on the Singapore Exchange
Securities Trading.
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Read more about Bulls dominate D-Street; Sensex zooms 904 pts on Business Standard. The broader market rallied. The S&P BSE Mid-Cap index added 1.15% while the S&P BSE Small-Cap index rose 1.48%.
Benchmark indices traded in a narrow range near the day s high in mid morning trade. The Nifty traded above the 15,050 level. Barring the Nifty Auto index, all the sectoral indices on the NSE were trading in the green.
At 11:25 IST, the barometer index, the S&P BSE Sensex, was up 462 points or 0.92% at 50,758.64. The Nifty 50 index surged 152.35 points or 1.02% at 15,071.70.
In broader market, the S&P BSE Mid-Cap index was up 1.15% while the S&P BSE Small-Cap index rallied 1.56%.
The market breadth was strong. On the BSE, 1822 shares rose and 880 shares fell. A total of 159 shares were unchanged.
COVID-19 Update:
Reliance Industries (RIL) rose 1.22% to Rs 2132 after the company said that its telecom unit Reliance Jio has successfully acquired the right to use spectrum in all 22 circles across India.
In a BSE filing made after market hours on Tuesday (2 March 2021), RIL said that Reliance Jio Infocomm, a subsidiary of the company, had successfully acquired the right to use spectrum in all 22 circles across India in the recently concluded spectrum auctions conducted by Department of Telecommunications, Government of India.
RIL said that the payment to be made for the right to use this technology agnostic spectrum for a period of 20 years is Rs 57,123 crore. For the spectrum bought, Jio will have to make an upfront payment of Rs 19,939 crore and deferred payment of Rs 37,184 crore. As per terms of the spectrum auction, the deferred payments have to be made over a period of 18 years (2 year moratorium plus 16 year repayment period), with interest computed at 7.3% per annum.