Telecom Minister bats for tariff hikes, says spectrum for satcom is allocated world over: Telecom Minister Jyotiraditya Scindia on October 15 clarified the government’s stand on the satcom spectrum issue. He said that spectrum will not be auctioned but allocated administratively and service providers will have to pay a cost.

Telcos pitch for AI focus, local data storage, power use incentives and level satcom play field: Speaking at the India Mobile Congress (IMC) 2024 inauguration, Bharti Airtel Chairman Sunil Bharti Mittal pushed for satellite companies looking to serve urban markets to pay license fees and buy spectrum for their telecom services, just as traditional telecom firms do.

Hyundai Motor India IPO gets 18% subscribed on day 1: The initial public offer of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, received an 18% subscription on the first day of bidding on Tuesday.

EC sets Nov 13, 20 and Nov 20 as election dates for Jharkhand and Maharashtra: The Election Commission Tuesday announced Maharashtra will vote in one phase on November 20, while Jharkhand will go to polls in two phases on November 13 and 20, setting the stage for another round of contest between a buoyant BJP and the opposition INDIA bloc, which has been jolted by the Congress’ shock Haryana defeat. Chief Election Commissioner Rajiv Kumar announced that the counting of votes will be held on November 23, a day before the current Maharashtra assembly completes its term.

After 5 weeks Samsung workers call off strike at Chennai unit: The Centre of Indian Trade Unions (CITU) backed Samsung India Workers’ Union (SIWU) is set to officially call off its strike at Samsung’s Sriperumbudur plant following extensive conciliation talks facilitated by the Tamil Nadu government. The strike, which began on 9 September 2024, saw employees demanding better wages, reduced working hours, and formal recognition of their union.

New anti-greenwash norms to check misleading eco claims: The Department of Consumer Affairs has issued guidelines to prevent claims of greenwashing, a deceptive or misleading practice involving concealing, omitting, or hiding relevant information by exaggerating or making false or vague claims about a product.

HDFC Life Insurance Company Limited: Closing the top 10 is HDFC Life Insurance, a leading long-term life insurance provider based in Mumbai, India. With a joint venture between HDFC Ltd. and Abrdn, HDFC Life offers individual and group insurance services to meet the diverse needs of its customers.

Cochin Shipyard floats offer for sale: Centre intends to sell 5% stake in Cochin Shipyard through the OFS route, at a floor price of Rs 1,540 per share, an exchange filing said on October 15. The Offer For Sale, which opens on October 16, will include a base offer of 2.5% stake or 66 lakh shares, as well as a green shoe option of another 2.5%. The OFS will open on October 16 for non-retail investors and for retail investors, the issue will open on October 17. The indicative price for the non-retail category will be released separately.

Quantum MF is a big subscriber in Adani Enterprises QIP: Adani Enterprises Ltd., the flagship company of the Adani Group announced the closure of its institutional share sale or Qualified Institutional Placement (QIP) on Tuesday, October 15, through which it has raised ₹4,200 crore. Among those funds issued shares, nearly half, or 47% of the total shares issued as part of the QIP, have been issued to Quant Mutual Fund, through its various schemes. Majority of those (17.4%) have been issued to the Quant Smallcap Fund. Winro Commercial (India) Ltd., Tree Line Asia Master Fund (Singapore) Pte Ltd. and SBI Life Insurance are some of the other institutions, to whom more than 5% of the QIP shares on offer have been issued. (Image: Shutterstock)