Airtel-Loop Mobile deal to push Vodafone to 2nd spot in Mumbai

Airtel-Loop Mobile deal to push Vodafone to 2nd spot in Mumbai

Loop Mobile's potential merger with telecom operator Bharti Airtel will push Vodafone to the second spot in the Mumbai circle.

After the completion of the deal, Airtel will surpass its biggest rival Vodafone to grab the top spot in Mumbai, with a combined subscriber base of 7.3 million. Vodafone will slip to the second spot with nearly 7 million subscribers in the circle.

However, many analysts say that the race for having bigger subscriber base doesn't make sense in the modern days as spectrum is now not given on subscriber-linked criteria.

Mumbai – Bangalore Industrial Corridor’s Feasibility To Be Checked

Mumbai – Bangalore Industrial Corridor’s Feasibility To Be Checked

The central government has asked to check the feasibility of the newly proposed Mumbai-Bangalore industrial corridor. This was said by Union Commerce Minister Anand Sharma during a press conference today.

Singh has mentioned that the government has asked for the report of this proposed corridor.

He also mentioned at the press conference that after discussion with the Chief Minister of the state, the central government has agreed to extend the Chennai- Bangalore industrial corridor to Chitradurga.

Each new city on Delhi-Mumbai Industrial Corridor needs Rs 2500 cr

According to the Department of Industrial Policy & Promotion, initial funding of Rs 18,500 crore is needed by seven futuristic cities on Delhi-Mumbai Industrial Corridor.

The government is developing these cities to meet China’s manufacturing proficiency. These new cities will be called as nodes.

A government official told ET that they are waiting for the comments of finance ministry after which they will place the note before the Union Cabinet for approval.

World's super-rich see Mumbai as future hub

World’s wealthiest people always give prime importance to properties. It has been reported that property accounts for 35% of UHNWI investment portfolios and second number belongs to investment in their own businesses.

According to the 2011, edition of The Wealth Report launched by Knight Frank and Citi Private Bank on Wednesday shows that Mumbai is gaining importance. From 2010, Mumbai has gained importance by 118%, highest among
20 world cities.

PTC India Financial Services goes into discount

PTC India Financial Services shares opened at its issue price and fall to Rs 24.65 on the BSE. It has disappointed the exchanges on the first day by slipping more than 8% to Rs 25.65 a share against Rs 28 in early trade.

While on the National Stock Exchange, PTC’s stock opened at Rs 26.75 a share and trade at Rs 25.50, down nearly 9%. Both the exchanges accounted for a volume of more than 104 crore equity shares.

Airtel launches its 3G service in Mumbai today

Today Bharti airtel, India's leading telecommunication company has launched its 3G services in Mumbai. By the introduction of this service now people of Mumbai can get all the latest developments in different ways everywhere at 24*7 in their mobiles phones using this service.

Users of this service can make use of it in places like the traffic at Mahim junction; Airtel 3G services will allow them to catch the stock market action on Mobile TV, quickly access portfolio management sites.

Important documents in housing scam, stolen

Important documents in housing scam, stolen

In Mumbai four vital papers have been robbed from the Adarsh Society box file that was in ownership of the Urban Development Department.

An instance of robbery has been recorded and an examination into the robbery is on. As per the sources, the Central Bureau of Investigation discovered folio numbers 15, 27, 99 and 279 of the folder and informed the Urban Development Department.

The CBI had established a duplicate of the folder for their investigation into the debate -struck society. The Urban Development Department then filed grievance of documents being misplaced or robbed.

Mumbai Police yet to pay 14.43 crores in Property Tax to the BMC

Mumbai Police yet to pay 14.43 crores in Property Tax to the BMC

The Mumbai police have yet to pay up a sum of around 14 crores to the Brihanmumbai Municipal Corporation (BMC) as part of property tax on the police stations and staff quarters it has in the city. As of the end of the financial year, 2009-2010, the Mumbai police owe a total of 14.43 crores.

Sensex flat on Asian cues; RNRL plummets

Sensex flat on Asian cues; RNRL plummets

In the opening trade, the Indian markets opened flat with the benchmark indices going up, which is close to 0.1 per cent. The BSE Sensex was up by 19 points at 17,480 and the NSE Nifty gained 5 points and was trading at 5,242 at
9.21 am. Nifty support is visible at its 50 day moving average (DMA) at 5,141.

Oil stocks saw selling pressure among other sector’s indices. The oil and gas index fell down by 0.44 per cent. The FMCG and realty sectors were pressurized too. But gainers, healthcare stocks gained it raised half a per cent. Most other sectors opened with a positive note.

R Infra to build Worli Haji link under BOT model

ADAG's Reliance Infrastructure has said that it will be constructing the 8-lane road between Worli to Haji Ali Sea Link. This will be done in association with MSRDC and will be done on a Build Operate Transfer model.

R Infra has signed a Concession Agreement with MSRDC for the construction of the road that is being termed as the biggest such project done on the Public Private Participation (PPP) front.

The companies in question have committed to build a state-of-the-art urban infrastructure, the lack of which is constantly felt in Mumbai, due to rising traffic.