Dow Jones ended in Red, but just, 24 minus. Asian Markets are also a little down.
Yesterday, Telecom and IT and Telecom Minister met the Prime Minister. The points of discussion were regarding two agendas:
Firstly, the Extension of the Tax Benefit under STPI to the IT industry and Secondly, the Fast implementation of the 3G Spectrum Auctions.
If the Extension of the Tax benefits under STPI is done the IT industry will get a huge relief from the down going Software Exports, which may continue for a little longer.
The IT stocks ralied yesterday on the News. Once this is through the IT sector stocks might see a rally once again.
I dont know how much benefit Bharti and RCOM will get from the 3G Auction News. But I am sure accumulating RCOM and Bharti at lower levels and on falls will definitely be handy.
Tata Teleservices yesterday announced to enter the GSM markets as well. It will be the second to do so after RCOM. However, Tata Teleservices has made a tie-up with Japanese Telecom Giant NTT Do Co Mo to rellish the GSM markets in India. The Services will be provide under the Banner Name - Tata Do Co Mo. Watch out for Tata Communications - Might go up on the News.
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