New Mobile Operator S Tel Launched in HP

New Mobile Operator S Tel Launched in HPOne more operator joined the queue of mobile operators in India when on Thursday S Tel started its operations in Shimla, Himachal Pradesh.

In the next few months the company will proceed with its operations in half a dozen category C circles of the country. The company has ISP license for many states including Orissa, Bihar, Jharkhand, Jammu & Kashmir and Himachal Pradesh.

The company is a joint venture between Siva Group (formerly Sterling Infotech Group) and BMIC, a subsidiary of State-owned Bahrain Telecommunications Company (Batelco).

P. Swaminathan, Director of the company said, "I was looking at the bottom of the society as a target segment and had plans to span 50 cities and towns and 7,000 villages across Himachal Pradesh in just one month". Swaminatha also said barely eight players out of 14, will survive in the long run as the market is becoming highly competitive and tariffs are falling.

Consumers will be benefit by the company's two most-preferred tariff plans which charge one paisa per second and 50 paisa per minute respectively for STD and local outgoing calls.

This will target large audience with light, moderate and heavy mobile usage.


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Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.