By Sabari Saran
NEW DELHI: Asian markets extended losses on Thursday, perpetuating the weak sentiment from the US tech rout. But mild gains in US stock at the opening tick later in the day held out promise for Friday’s session on Dalal Street, which was shut on Thursday for a public holiday.
Nifty slipped 1 per cent on Wednesday, and in the process, formed a Bearish Belt Hold pattern on the daily chart. Analysts said the 50-pack is facing a stiff hurdle on the higher side, especially in the 14,900-15,000 zone.
“Only a close above the 15,000 mark can activate the overall bullish stream. Otherwise, we may again see selling pressure at higher levels. Support can be seen near the 14,775-14,700 zone,” said Rohit Singre, Senior Technical Analyst at LKP Securities.
Indus Towers announced that due to some procedural misunderstanding, it was erroneously mentioned in the said intimation that ICRA Limited has withdrawn the issuer rating assigned to the Company.
While the Company had requested ICRA for withdrawal of issuer rating, there is a procedure of withdrawal wherein the issuer rating is placed on Notice of withdrawal for at least one month before being withdrawn.
In this regard, ICRA Limited has reaffirmed the issuer rating of [ICRA] AA+ (Stable) and has also put the same on notice of withdrawal for one month. The rating will be withdrawn after the expiry of one month subject to the approval from rating committee.
Telecom secretary Anshu Prakash has urged all states and union territories (UTs) to speed up clearances to field staff of telcos, tower operators and internet service providers (ISPs) across India to ensure uninterrupted mobile and broadband connectivity to consumers amid the deadly second wave of Covid-19.
Telecom industry warns public against frauds around mobile tower installation
SECTIONS
Last Updated: Apr 29, 2021, 11:08 PM IST
Share
Synopsis The public is cautioned against certain companies, agencies, or individuals who are fraudulently approaching people and asking them to deposit money in their personal or company accounts in the name of tax for leasing their premises for installation of mobile towers, a joint statement by the associations said.
Getty Images
The telecom industry, represented by associations COAI and TAIPA, on Thursday warned the public against frauds related to the installation of mobile towers on properties. While COAI is the representative body of telecom service providers, TAIPA represents telecom infrastructure firms.
Synopsis The management continues to reiterate that 5G and fibre opportunities would continue to drive growth in the future as dependency on strong telecom infrastructure remains. Tenancy additions have also improved in the past three quarters.which signifies demand for new towers, report said. VIL is facing a severe liquidity risk due to its huge cash obligations. Its long-term business concerns still remain an overhang for Indus Towers.
The 5G opportunities and growth momentum cited by Indus Towers management notwithstanding, the long-term business concerns of large client
Vodafone Idea remain an overhang for the tower company, according to a report.