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Bharti Airtel: The modest EMDs, this time round, signal the prospect of selective bidding in the upcoming sale and the government selling at most 21% of the nearly Rs 97,000 crore (around $12 billion) worth of 5G airwaves on offer, analysts added.
India's top telcos submit low earnest money deposits (EMDs) for the upcoming 5G spectrum auction, marking the lowest since 2014. Analysts suggest selective bidding, foreseeing maximum spectrum demand of $2.5 billion, far below previous auctions. Reliance Jio leads EMDs; Airtel and Vi likely focus on renewals and selective bidding for 5G rollout.
RBI's dividend payout for FY24 was double what the government projected, hence, providing it with extra funds to ramp up capital expenditure, lower the fiscal deficit, or a mix of both.
ITC expected to report flat revenue growth in Q4FY24 with pressure on non-cigarette FMCG margins and strong hotel business.
Shares of Bharat Heavy Electricals Ltd settled at Rs 319.20 on Tuesday, rising 2.95 per cent, with a total market capitalization of more than Rs 1.11 lakh crore.