Reliance Communications (RCom) has entered into a joint venture pact with global infrastructure provider Alcatel-Lucent to provide managed network services (MNS) to telecom service providers in the country. This is the first time two major firms have come together to jointly tap the emerging potential of MNS, a nascent sector in the country. The companies will float a new entity, which will kick off operations by providing services to RCom's CDMA and GSM networks. The new entity will initially focus on providing services to 12 circles in northern and western India. The JV firm will also help RCom's expansion plans outside the country and provide services to other firms across the world.
An MNS provider installs the infrastructure and equipment and manages it for the telecom service provider. Though data pertaining to the size of the MNS industry is not available, industry experts expect the sector to grow to about Rs 100 crore in the next couple of years. The JV will help RCom concentrate on its core competencies i.e. telecom services, while Alcatel-Lucent takes care of the infrastructure. After hiving off its passive infrastructure business of telecom towers this is a second move by Reliance Communications Ltd to outsource a core activity.
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The company announced the results during trading hours today, 7 May 2008.
Meanwhile, the BSE Sensex was down 31.86 points, or 0.18%, to 17,341.15.
On BSE, 31,328 lakh shares were traded in the counter. The scrip had an average daily volume of 12,764 shares in the past one quarter.
The stock hit a high of Rs 271 and a low of Rs 255 so far during the day. The stock had a 52-week high of Rs 382.70 on 4 January 2008 and a 52-week low of Rs 183.15 on 8 November 2007.
The mid-cap scrip had outperformed the market over the past one month till 6 May 2008, gaining 16.78% compared to the Sensex`s return of 10.26%. It had underperformed the market in the past one quarter, declining 4.39% compared to Sensex`s decline of 4.23%.
The company`s current equity is Rs 60.76 crore. Face value per share is Rs 10.
The current price of Rs 260 discounts its Q3 December 2007 annualised EPS of Rs 16.72, by a PE multiple of 15.55.
However, Punjab Tractors` net profit fell 16.43% to Rs 65.17 crore on 1.82% rise in total income to Rs 971.98 crore in the year ended March 2008 over the year ended March 2007.
The company is engaged in manufacturing, marketing and servicing of tractors. The products include agricultural tractors, self-propelled harvester combines, rice transplanters, forklifts, tractor drawn agricultural implements, gears, spare parts, casting and accessories.
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The BSE Sensex was down 29.80 points, or 0.17%, to 17,344.43
On BSE, 68.73 lakh shares were traded in the counter. The scrip had an average daily volume of 13.74 lakh shares in the past one quarter.
The stock hit a high of Rs 283.50, which is also its all time high on BSE. The stock touched a low of Rs 261 so far during the day. The stock had hit a 52-week low of Rs 128 on 9 May 2007.
The large-cap scrip had outperformed the market over the past one month till 6 May 2008, gaining 14.65% compared to the Sensex`s return of 10.26%. It also outperformed the market in the past one quarter, advancing 23.79% compared to Sensex`s decline of 4.23%.
The company`s current equity is Rs 1892.19 crore. Face value per share is Rs 10.
On 6 May 2008, Cairn India rose 1.67% to Rs 260.75 after Goldman Sachs Group Inc. raised the stock`s price estimate by 14% to Rs 325 per share.
Cairn India reported higher net loss of Rs 24.31 crore in Q1 March 2008 as compared to net loss of Rs 8.54 crore in Q1 March 2007. Total income rose 79.80% to Rs 22.66 crore in Q1 March 2008 over Q1 March 2007.
Cairn India`s principal activity is to explore, develop and produce crude oil and natural gas.
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