MUMBAI: Idea Cellular, the third-largest telco in India, will be the worst hit by the 57% reduction in interconnect user charges starting next month, according to analysts. Reliance Jio Infocomm, which paid the highest IUC charges till now, will be the biggest beneficiary, with a likely 76% push in its operating income by the year ending March 2019, they said.

Jio’s gains may translate into lower prices, triggering another bruising price war just when the industry was said to on the verge of a recovery with the latest entrant having to charge for its data services, UBS said. Jio may use its savings to add towers and widen its coverage and expand 4G services, Bank of America Merrill Lynch said.

Sebi Chairman Ajay Tyagi has pitched for multiple products and fundraising avenues for investors so as to help broaden participation in the capital markets.

Besides, he said, developing currency-bond-derivatives links by creating suitable conditions and right enabling infrastructure could also attract investors to the markets.

Hospitality chain Lemon Tree Hotels has filed draft papers with markets regulator Sebi to float an initial public offering.

The public offer comprises sale of up to 195,797,000 equity shares by the existing shareholders, including Maplewood, Whispering Resorts, Palms International and RJ Corp, according to the draft red herring prospetus (DRHP).

The Railway ministry is looking at ways to speed up the electrification process as it would help cut down Rs 16,000 crore expense on diesel, Union Minister Piyush Goyal said today.

He said the ministry is consulting all the people who are involved in the electrification process.

Software development, sales, business management and marketing related jobs are currently the most desirable in the Indian job market, says a report.

According to employability assessment firm Aspiring Minds' Skill Map, software developer role has the highest demand of 9.74 per cent, followed by sales profile at 8.17 per cent and customer service roles at 6.53 per cent.

Reliance Jio on Wednesday made an announcement offering the company's Wi-Fi dongle at a 50 per cent discount under the new festive offer. The JioFi Festive Celebration Offer is valid from September 20-September 30. Under this offer, the JioFi device is available at a price of Rs 999 instead of the original price of Rs 1,999

However, this festive celebration deal is exclusively available for Reliance Jio Prime members on the specific JioFi M2S model. Also, this offer cannot be clubbed with any other offer from the company.

MANGALURU: As senior ministers in Prime Minister Narendra Modi's government are looking for solutions to revive economic growth, the ASSOCHAM has submitted an action plan for doubling the contribution of the mining sector to the national GDP and adding to the employment. The action plan includes compensation to the investors in case clearances are delayed.

State-run hydrocarbon explorer ONGC has found reserves to the west of its Mumbai High offshore fields, with initial estimates suggesting the new discovery’s size to be about 20 million tonnes of oil equivalent (mtoe). The firm’s output has been stagnating over the last many years with annual oil production in the range of 25-26 million tonnes (mt) and natural gas output around 23 billion cubic metres (bcm). Though the zones at the well WO 24-3 are still under assessment, the new find is believed to be big enough to pep up the firm’s production in coming years.

Kotak Mahindra Bank (KMB)’s market capitalisation is nudging Rs 2 lakh crore. On Wednesday, the private sector lender’s market cap stood at Rs 1.95 lakh crore while ICICI bank’s m-cap was Rs 1.86 lakh crore. KMB is the country’s second-most valued private lender after HDFC Bank, which commands a market cap of Rs 4.77 lakh crore. Shares of KMB closed Wednesday’s session 0.87 % lower at Rs 1,025.45 on BSE. The stock is up 42.6 % so far in 2017, while the return over one month is 5.58 %. the bank recently raised Rs 5,806 crore through a placement of shares at Rs 936 per share.

Sensex and Nifty opened flat on Thursday after the US Federal Reserve left rates unchanged and signaled one more hike by the year-end. BSE Sensex gained 6 points to open at 32406.42 points, NSE Nifty lost 1.5 points to open at 10,139.6 points. In line with expectations, the Fed said it would begin in October to cut its roughly $4.2 trillion in US Treasury bonds and mortgage-backed securities holdings by initially cutting up to $10 billion each month from the amount of maturing securities it reinvests.

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