Leading telecom company Reliance Communications became the fifth most valued firm on the bourses, with a market capitalisation of over Rs 1,10,000 crore that places it ahead of IT majors Infosys and TCS.
The Anil Ambani group firm's scrip on Wednesday gained one per cent to end at Rs 541.95 taking its market cap to Rs 1,10,808.18 crore ahead of Infosys' Rs 1,10,415.82 crore and the Tata group entity's Rs 1,09,334.09 crore.
Reliance Industries with a market valuation of Rs 2,30,000 crore is the most valued firm on the bourses followed by PSU major ONGC at Rs 1,86,000 crore and telecom giant Bharti Airtel at Rs 1,63,000 crore.
NTPC enjoys the fourth position in terms of market cap at Rs 1,28,000 crore.
In May, RCom, ranked among Asia's six top most valuable telecom companies, had added a record 1.4 million subscribers to its mobile network. Overall, the company has a customer base of over 35 million including over one million individual overseas retail customers.
Courtesy : Expressindia.com
RCom becomes fifth most valued firm on bourses
July 5, 2007, 9:51 amMexican magnate is the richest
July 5, 2007, 9:50 am
Mexican telecom tycoon Carlos Slim Helu has overtaken Microsoft founder Bill Gates as the richest person on the planet, according to the Mexican financial website Sentido Comun.
Sentido Comun said the Mexican mogul's wealth had shot past Gates following the rocketing performance of his telecommunications firm, America Movil.
US-based Forbes magazine, known for its rankings of the world’s wealthiest individuals, had in April updated its list to show Slim as the second richest, moving past the legendary American investor Warren Buffett.
The Mexican financial website said Slim has grown even wealthier thanks to a surge in the share prices of his company.
"Thanks to a 26.5 per cent rise in the shares of America Movil during the second quarter, Slim, who controls 33 per cent interest in Latin America's largest mobile phone company, is substantially richer than Gates," Sentido Comun said.
"The difference between their two fortunes is around nine billion dollars in favour of Slim," the financial website said.
Aside from America Movil, Carlos Slim, 67, controls the INBURSA financial group as well as retail and restaurant chains.
Courtesy : Expressindia.com
Sentido Comun said the Mexican mogul's wealth had shot past Gates following the rocketing performance of his telecommunications firm, America Movil.
US-based Forbes magazine, known for its rankings of the world’s wealthiest individuals, had in April updated its list to show Slim as the second richest, moving past the legendary American investor Warren Buffett.
The Mexican financial website said Slim has grown even wealthier thanks to a surge in the share prices of his company.
"Thanks to a 26.5 per cent rise in the shares of America Movil during the second quarter, Slim, who controls 33 per cent interest in Latin America's largest mobile phone company, is substantially richer than Gates," Sentido Comun said.
"The difference between their two fortunes is around nine billion dollars in favour of Slim," the financial website said.
Aside from America Movil, Carlos Slim, 67, controls the INBURSA financial group as well as retail and restaurant chains.
Courtesy : Expressindia.com
China Unicom tests wireless music service
July 5, 2007, 9:48 am
China Unicom said on Wednesday it is testing a service that allows users to download songs to their cellphones, as the country's second-biggest wireless carrier seeks new revenue streams amid intensifying competition.
The service, called 'Xuan Qu', is being tested in partnership with artists and music companies, the parent of Hong Kong-listed China Unicom Ltd said in a statement emailed to Reuters. It did not give details.
China Unicom, along with larger rival China Mobile, is trying to jumpstart growth in the world's largest mobile arena by going after lower-paying rural customers and is trying to develop new services to diversify revenue streams.
Courtesy : Expressindia.com
The service, called 'Xuan Qu', is being tested in partnership with artists and music companies, the parent of Hong Kong-listed China Unicom Ltd said in a statement emailed to Reuters. It did not give details.
China Unicom, along with larger rival China Mobile, is trying to jumpstart growth in the world's largest mobile arena by going after lower-paying rural customers and is trying to develop new services to diversify revenue streams.
Courtesy : Expressindia.com
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