ITV

Tag: BSE

  • Vikram Chandra steps down; KVL Narayan Rao is new NDTV group CEO

    Vikram Chandra steps down; KVL Narayan Rao is new NDTV group CEO

    MUMBAI: The rumours that were making rounds of Vikram Chandra stepping down from his post at NDTV have now been put to rest.

    The NDTV informed the Bombay Stock Exchange (BSE) that the company Board of Directors has approved the decision of Chandra to step down from the position of the group chief executive officer (CEO) and executive director of NDTV with immediate effect.

    Chandra was appointed the group CEO in 2011 for a term of three years which was further extended by another two years. Chandra has expressed the wish to return to full time journalism within NDTV and focus on the TV shows of the Group. Chandra will continue with the Company as Consulting Editor.

    The Board while accepting the decision of Chandra placed on record its appreciation of his valuable contribution as CEO. The Board on the recommendation of the Nomination and Remuneration Committee today approved that the executive vice-chairperson KVL Narayan Rao take over additional responsibilities as the Group CEO of NDTV with immediate effect.

    Rao has been associated with the Company for nearly 22 years in various capacities including Group CEO and has been a key factor in the creation of NDTV.

    Rao has served three terms as the president of the News Broadcasters Association (NBA). He has also been on the Board of Indian Broadcasting Foundation (IBF) and V ice President of the Commonwealth Broadcasting Association. He continues to be on the Board of both the NBA and the IBF.

    Rao is one of the most respected leaders of the news broadcasting fraternity where he has often played a critical role.

  • ZEEL clarifies on UAE Hum 106.2 FM radio biz foray

    ZEEL clarifies on UAE Hum 106.2 FM radio biz foray

    MUMBAI: Last week, the media was abuzz about Zee Entertainment Enterprises Ltd (Zeel) acquisition of the UAE’s first Hindi/Urdu radio station, Hum 106.2 FM. The move signaled the entertainment major’s foray into the radio business, something which has been speculated about for some time.

    However, the company has clarified to the Bombay stock exchange, saying that the Hum 106.2 FM deal is not a takeover.

    In a notice issued the BSE over the weekend, ZEEL states that it has set up a step-down subsidiary in Dubai to be in the FM radio business in the name of Zee FM. And, under the agreement it has signed, the radio frequency owned by the emirate of Umm Al Quwain has been leased to the Zee subsidiary effective January 2017 for its radio business.

    Umm Al Quwain Broadcasting Network (UBN) which operate Hum 106.2 used the frequency to serve Hindi and Urdu programming to listeners. It redefined drive time and boasted of many celebrity Radio Jockeys. It also went on to popularize live cricket commentary on radio and has a lot of pioneering firsts in the radio business.

  • ZEEL clarifies on UAE Hum 106.2 FM radio biz foray

    ZEEL clarifies on UAE Hum 106.2 FM radio biz foray

    MUMBAI: Last week, the media was abuzz about Zee Entertainment Enterprises Ltd (Zeel) acquisition of the UAE’s first Hindi/Urdu radio station, Hum 106.2 FM. The move signaled the entertainment major’s foray into the radio business, something which has been speculated about for some time.

    However, the company has clarified to the Bombay stock exchange, saying that the Hum 106.2 FM deal is not a takeover.

    In a notice issued the BSE over the weekend, ZEEL states that it has set up a step-down subsidiary in Dubai to be in the FM radio business in the name of Zee FM. And, under the agreement it has signed, the radio frequency owned by the emirate of Umm Al Quwain has been leased to the Zee subsidiary effective January 2017 for its radio business.

    Umm Al Quwain Broadcasting Network (UBN) which operate Hum 106.2 used the frequency to serve Hindi and Urdu programming to listeners. It redefined drive time and boasted of many celebrity Radio Jockeys. It also went on to popularize live cricket commentary on radio and has a lot of pioneering firsts in the radio business.

  • International roaming incoming calls on Airtel to be free

    International roaming incoming calls on Airtel to be free

    MUMBAI: Bharti Airtel, one of India’s largest telecommunications services provider, today announced the launch of its new international roaming (IR) packs that redefine the value proposition for customers traveling abroad, a communique to the BSE stated.

    With the new IR packs, customers will have the convenience of carrying their India mobile number wherever they go and stay connected 24×7 without having to worry about high call and data charges. The packs will be available to both postpaid and prepaid customers.

    Airtel’s new IR packs offer free incoming calls, free texts to India and ample data benefits along with free India calling minutes across all popular destinations. Charges for calls to India and local in-country calls have been reduced to as low as Rs. 3/min across popular destinations. Airtel also announced that post the exhaustion of pack data benefits, international roaming data will now be charged at just Rs. 3/MB, a reduction of 99% from Rs. 650/MB.

    The IR packs, available for all popular global destinations, come with validity of one day and 30 days, giving customers greater flexibility to plan their communication budgets when traveling overseas.

    The one day pack is designed for short/quick international trips and for appx. $10. This pack is particularly useful for business travelers who may be traveling to multiple destinations for very short duration. The 30 days pack offers connectivity through long duration trips for appx. $75. With the holiday season around the corner, Airtel plans to launch a $45 medium duration pack with 10 days validity by middle of October 2016.

    Bharti Airtel director – operations (India & south Asia) said, “The new IR packs ensure that customers get no bill shocks and have the convenience of always keeping their phones switched on, wherever they are.”

  • International roaming incoming calls on Airtel to be free

    International roaming incoming calls on Airtel to be free

    MUMBAI: Bharti Airtel, one of India’s largest telecommunications services provider, today announced the launch of its new international roaming (IR) packs that redefine the value proposition for customers traveling abroad, a communique to the BSE stated.

    With the new IR packs, customers will have the convenience of carrying their India mobile number wherever they go and stay connected 24×7 without having to worry about high call and data charges. The packs will be available to both postpaid and prepaid customers.

    Airtel’s new IR packs offer free incoming calls, free texts to India and ample data benefits along with free India calling minutes across all popular destinations. Charges for calls to India and local in-country calls have been reduced to as low as Rs. 3/min across popular destinations. Airtel also announced that post the exhaustion of pack data benefits, international roaming data will now be charged at just Rs. 3/MB, a reduction of 99% from Rs. 650/MB.

    The IR packs, available for all popular global destinations, come with validity of one day and 30 days, giving customers greater flexibility to plan their communication budgets when traveling overseas.

    The one day pack is designed for short/quick international trips and for appx. $10. This pack is particularly useful for business travelers who may be traveling to multiple destinations for very short duration. The 30 days pack offers connectivity through long duration trips for appx. $75. With the holiday season around the corner, Airtel plans to launch a $45 medium duration pack with 10 days validity by middle of October 2016.

    Bharti Airtel director – operations (India & south Asia) said, “The new IR packs ensure that customers get no bill shocks and have the convenience of always keeping their phones switched on, wherever they are.”

  • Hathway Bhawani CEO Samson Jesudas quits

    Hathway Bhawani CEO Samson Jesudas quits

    MUMBAI: Hathway Bhawani Cabletel & Datacom managing director and chief executive officer Samson Jesudas has resigned. The company today informed the Bombay Stock Exchange (BSE) that Jesudas has tendered his resignation with effect from 21 September. Hathway Bhawani is a joint venture between Hathway and Bhawani Cable.

    Earlier, he worked as the chief marketing and distribution officer at Indusind Media & Communication Ltd for two years. Then, Jesudas was appointed as the head of operations at Hathway Cable and Datacom, before joining as the CEO of Hathway Bhawani Cable and Datacom.

  • Hathway Bhawani CEO Samson Jesudas quits

    Hathway Bhawani CEO Samson Jesudas quits

    MUMBAI: Hathway Bhawani Cabletel & Datacom managing director and chief executive officer Samson Jesudas has resigned. The company today informed the Bombay Stock Exchange (BSE) that Jesudas has tendered his resignation with effect from 21 September. Hathway Bhawani is a joint venture between Hathway and Bhawani Cable.

    Earlier, he worked as the chief marketing and distribution officer at Indusind Media & Communication Ltd for two years. Then, Jesudas was appointed as the head of operations at Hathway Cable and Datacom, before joining as the CEO of Hathway Bhawani Cable and Datacom.

  • Goldman Sachs to up stake in cable TV MSO DEN Networks; to invest Rs 142.43 crore

    Goldman Sachs to up stake in cable TV MSO DEN Networks; to invest Rs 142.43 crore

    MUMBAI: MSO DEN Networks has proved the naysayers – who have been carping that the Indian cable TV sector is as insipid as dry sawdust – wrong. The company’s existing shareholder Goldman Sachs is picking up 1.58 crore equity shares at a price of Rs 90 per share via a preferential allotment. This will take Goldman Sachs’ equity stake in DEN up from 17.79 per cent to 24.49 per cent and involve an injection of much needed capital to the tune of Rs 142.43 crore. The divestment is expected to trim promoter stake in the company to 37 percent.

    Board approval for this transaction came through yesterday and the company is seeking its shareholders’ nod through an extraordinary general meeting which is scheduled for 14 October 2016. DEN Networks informed the BSE about its intentions yesterday.

    Media observers say that the Indian cable TV ecosystem – including the government, the regulator TRAI, broadcasters, MSOs and cable TV operators – has stumbled in the digitization process which was mandated by the ministry of information and broadcasting four years back. They have also been saying that investor sentiment towards the sector is pretty weak. Shares of most leading Indian cable TV companies have been depressed, and have been parked at lows.

    However, DEN Networks has been taking steps to correct the perception. It has brought back its CEO SN Sharma who has since been working on raising revenues and profitability.

    The Goldman investment should come as a shot in the arm for DEN Networks as well as the Indian cable TV sector which is grappling with reinventing its business model.

    The company’s CFO Manish Dawar told CNBC TV18 that the company will be utilising the funds to invest in the broadband business as well as to reduce its debt. Earlier, this month, it had got board approval to demerge its broadband/internet service provider (ISP) business undertaking into its wholly owned subsidiary Skynet Cable Network . The company’s ISP business had a turnover of around Rs 40 crore in FY-2016.

    Dawar told the business news channel that DEN’s performance is on the upswing. “In Q1 we have already turned positive on EBITDA basis and if we were to look at I am talking about pre-activation which is what the investors wanted to kind of look at, so, therefore Q1 on cable business we are already EBITDA positive. Broadband is progressing very well, we have been able to reduce our losses tremendously over the last one year,” he said. “TV-Shop we are very close to break even. So, if you were to look at on a consolidated basis also, in the current quarter and I am talking about on a like-to- like basis, last quarter we were at minus (–) Rs 5 crore and the current quarter is positive Rs 5 crore on consolidated basis.”

    Investors greeted the Goldman Sachs announcement with delight. DEN Networks shares hit a high of Rs 85 during day trading yesterday only to close at Rs 80.85 – a rise of 3.5 per cent. The company’s share had hit a 52 week high of Rs 133 (21 September 2015) and it had dropped to a low of Rs 60.50 on 15 February 2016.

    The company also made an investor presentation yesterday in which it stated that its digital rollout is progressing well. Of the 13 million subscribers it has, almost 9.8 million of them have upgraded to digital in Q1 2017. Five million of these are in DAS Phase I & II areas with the remainder being in Phase III and phase IV.

  • Goldman Sachs to up stake in cable TV MSO DEN Networks; to invest Rs 142.43 crore

    Goldman Sachs to up stake in cable TV MSO DEN Networks; to invest Rs 142.43 crore

    MUMBAI: MSO DEN Networks has proved the naysayers – who have been carping that the Indian cable TV sector is as insipid as dry sawdust – wrong. The company’s existing shareholder Goldman Sachs is picking up 1.58 crore equity shares at a price of Rs 90 per share via a preferential allotment. This will take Goldman Sachs’ equity stake in DEN up from 17.79 per cent to 24.49 per cent and involve an injection of much needed capital to the tune of Rs 142.43 crore. The divestment is expected to trim promoter stake in the company to 37 percent.

    Board approval for this transaction came through yesterday and the company is seeking its shareholders’ nod through an extraordinary general meeting which is scheduled for 14 October 2016. DEN Networks informed the BSE about its intentions yesterday.

    Media observers say that the Indian cable TV ecosystem – including the government, the regulator TRAI, broadcasters, MSOs and cable TV operators – has stumbled in the digitization process which was mandated by the ministry of information and broadcasting four years back. They have also been saying that investor sentiment towards the sector is pretty weak. Shares of most leading Indian cable TV companies have been depressed, and have been parked at lows.

    However, DEN Networks has been taking steps to correct the perception. It has brought back its CEO SN Sharma who has since been working on raising revenues and profitability.

    The Goldman investment should come as a shot in the arm for DEN Networks as well as the Indian cable TV sector which is grappling with reinventing its business model.

    The company’s CFO Manish Dawar told CNBC TV18 that the company will be utilising the funds to invest in the broadband business as well as to reduce its debt. Earlier, this month, it had got board approval to demerge its broadband/internet service provider (ISP) business undertaking into its wholly owned subsidiary Skynet Cable Network . The company’s ISP business had a turnover of around Rs 40 crore in FY-2016.

    Dawar told the business news channel that DEN’s performance is on the upswing. “In Q1 we have already turned positive on EBITDA basis and if we were to look at I am talking about pre-activation which is what the investors wanted to kind of look at, so, therefore Q1 on cable business we are already EBITDA positive. Broadband is progressing very well, we have been able to reduce our losses tremendously over the last one year,” he said. “TV-Shop we are very close to break even. So, if you were to look at on a consolidated basis also, in the current quarter and I am talking about on a like-to- like basis, last quarter we were at minus (–) Rs 5 crore and the current quarter is positive Rs 5 crore on consolidated basis.”

    Investors greeted the Goldman Sachs announcement with delight. DEN Networks shares hit a high of Rs 85 during day trading yesterday only to close at Rs 80.85 – a rise of 3.5 per cent. The company’s share had hit a 52 week high of Rs 133 (21 September 2015) and it had dropped to a low of Rs 60.50 on 15 February 2016.

    The company also made an investor presentation yesterday in which it stated that its digital rollout is progressing well. Of the 13 million subscribers it has, almost 9.8 million of them have upgraded to digital in Q1 2017. Five million of these are in DAS Phase I & II areas with the remainder being in Phase III and phase IV.

  • BSE to Tweet real-time updates

    BSE to Tweet real-time updates

    MUMBAI: Twitter and Asia’s first stock exchange, BSE, have joined forces in their pursuit of providing real time information to the business community in India on Twitter via auto tweets, DMs and more. Investors can access financial data at the tip of their fingers, through four unique integrations:

    ·Hourly Tweet updates of the Sensex figures

    ·@BSEIndia’s display photo change every two minutes to reflect the current Sensex figure and level

    ·Real time replies for Sensex 30 current stock prices via an auto-response

    ·Direct Message subscription facility for Daily Opening and Closing stock price for Sensex 30 companies

    Twitter is the first international social media platform that the BSE is leveraging to enable Indian investors to access stock-related information via a digital platform with ease.

    Twitter has activated four unique features through hourly tweets, autoresponder tweets for Sensex 30 stock prices, auto direct messages for opening and closing figures of Sensex 30, and a ‘live’ display photo that will change every two minutes to project the dynamic Sensex figure and level.

    During trading hours (9 am to 3.30 pm), @BSEIndia will send hourly tweet updates of the Sensex figures, level, and Top 5 gainers and Top 5 losers.

    @BSEIndia’s display photo will change every two minutes to reflect the current Sensex figure and level — with a red arrow pointing downwards when it is down, and a green arrow pointing upwards when it is up. At a glance, people can gauge the market condition.

    For Sensex 30 current stock prices, people can Tweet to @BSEIndia with the company hashtag to get the current company stock price via an auto-response. The official hashtags for companies are listed on www.bseindia.com. For example, you can Tweet: @BSEIndia #HDFC:

    One can also subscribe to a special Direct Message subscription facility for Daily Opening and Closing stock price for Sensex 30 companies. One can activate this facility by Tweeting ‘#Subscribe #CompanyName’.

    Viral Jani, Media Partnerships, Twitter India said, “This is the first-ever association in Asia between a stock exchange and a social media platform to provide real-time market updates.”

    Endorsing this partnership, Ashishkumar Chauhan, MD & CEO, BSE India, said, “BSE is known for its innovative products and strategies.”