Sensex drags 300 pts, at 81,200; Nifty at 24,800; Bajaj Auto tumbles 9%
Benchmark Indian equity indices were trading lower on Thursday, amid a wider sell-off across sectors. At 10 AM, the BSE Sensex was down by 300 points, or 0.37 per cent, at 81,199, and the Nifty 50 was at 24,838, down 133 points, or 0.53 per cent. Among the 30 constituents of the BSE Sensex, the 11 were trading in the red. Loses were capped by Mahindra & Mahindra (down 1.89 per cent), followed by Maruti Suzuki India, Axis Bank, HDFC Bank, and Nestle India, while Larsen & Toubro was the top gainer (up 1.44 per cent), followed by Infosys, ICICI Bank, Reliance Industries, and Sun Pharma. On the Nifty 50, 17 out of the 50 stocks were trading in the green. Gains were led by Hindalco (up 1.46 per cent), followed by Infosys, SBI, Wipro, and Larsen & Toubro. On the flip side, Bajaj Auto (down 7.44 per cent), followed by Hero MotoCorp, Mahindra & Mahindra, Eicher Motors, and Maruti Suzuki India were the top drags.
Samsung to replace Vi's Chinese gear with 5G equipment in priority circles
Vodafone Idea's (Vi’s) latest order of network equipment from new partner Samsung will lead to 5G gear deployment in its six to seven telecom circles where the telco has existing gear installed from Chinese equipment makers Huawei and ZTE. Equipment from global vendors Nokia, and Ericsson will be used to boost the company’s 4G capabilities and raise the 4G population coverage to 90 per cent in the next 12 months from the current 77 per cent. Last month, the telco inked a Rs 30,000 crore deal for the supply of network equipment from the three global vendors. It marked Vi's first-ever tie-up with Samsung. The deal is the first step towards the roll-out of the company’s three-year capex plan of about $6.6 billion or Rs 55,000 crore announced earlier.
Trai pushes for OTT app regulation: Why WhatsApp and Telegram are in focus
India’s telecom regulator has recommended structured regulation for over-the-top (OTT) communication platforms like WhatsApp, Telegram, and Signal. This call comes after law enforcement agencies and telecom operators raised concerns regarding security and spam control. Speaking during the second day of the India Mobile Congress 2024, Anil Kumar Lahoti, chairman of the Telecom Regulatory Authority of India (Trai), stated that while OTT communication platforms have provided significant benefits to consumers and businesses, regulatory issues raised by law enforcement agencies and traditional telecom providers suggest that these platforms should come under a structured regulatory framework.