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Dot to Bargain with Telcos for Lowering Reserve Price WWW.ECONOMICTIMES.COM THE ECONOMIC TIMES BENNETT, COLEMAN & CO. LTD. MUMBAI | 22 + 4 PAGES OF CORPORATE DOSSIER | *.`2.50 OR .`5.00 ALONG WITH THE TIMES OF INDIA FRIDAY, 15 JUNE 2012 TGIF Trying Hard to Companies Go on a Hiring Gupta’s Fate may Hinge on Gain Lost Ground Spree for Data Scientists Witnesses, Not Wiretaps BUSINESS OF BRANDS 4 CAREER & BUSINESS LIFE 8 FREEDOM FROM ECONOMICS 22 Inflation Up in May, Will a revision in CRR be more effective than a policy rate cut? DoT to Bargain with Telcos 53% 41% 6% but Rate Cut Hopes YES NO CAN’T SAY TODAY’S QUESTION Should inflation control get priority over for Lowering Reserve Price Float as Exports Fall economic growth? http://economictimes.indiatimes.com Incumbents to be asked to match auction price for airwaves DoT’s New Call garner more than `. 1,00,000 crore from exist- OUR BUREAU Food Heats Up Inflation JOJI THOMAS PHILIP NEW DELHI Reserve price for spectrum to be reduced ing operators and strengthen its case that it Annual rate of inflation (%) NEW DELHI aiiteI if existing operators pay auction-deter- is not discriminating against new oper- Inflation in India quickened in Food inflation Core inflation mined price for all 2G airwaves they hold he telecom department (DoT) has of- ators that bid for airwaves in the upcoming May, but most economists still be- WPI for remaining licence period fered to reduce the reserve price for auctions. At the same time, it will give the lieve the Reserve Bank of India, or 10.7 8.3 8.4 now, get 3G for T airwaves in the upcoming sale if ex- government the flexibility to lower the re- RBI, will cut rates as a fall in ex- 10 4.9 isting mobile phone companies agree to serve price for the auctions as the loss of rev- ports in the same month accentu- 8 up to 70%* Less. ! Existing operators All existing match the auction-determined price for enues will be compensated by the money it ated concerns that the economy is 6 SMS 3G t0 121. can pay auction- spectrum hold- their frequencies over the remaining life will collect from the existing operators. at a standstill. 4 determined price ings to be lib- 2 of their licences. The proposed settlement may also involve Wholesale price inflation, the 9.46 7.55 0 for entire spectrum eralised after This proposal forms a key part of a pack- both the government and operators agree- most widely-used gauge of prices and renew licences payment of a age the DoT is attempting to cobble togeth- ing to drop all past court in India, rose to 7.55% in May from Nov Dec Jan Feb Mar Apr May for 20 years one-time fee er to reach a settlement with companies cases related to policy is- 7.23% in April on the back of dou- 2011 2012 Inside story that have vigorously opposed sector regula- DoT working sues and implementation. ble-digit inflation in food articles, the fall in manufactured goods in- Spectrum mortgage may be al- tor Trai’s controversial recommendations on a package For instance, the telecom data released by the government flation gives room to the RBI for lowed. Telcos may be permitted on pricing and refarming of spectrum. But that may offer department will withdraw on Thursday showed. the compromise attempt may not succeed Core inflation, a measure of de- further easing its monetary policy Coal India Sees `. 6kcr Revenue Loss to stagger payments for airwaves incentives for its case against the 3G stance,” said Saugata Bhatta- won through auctions as dual-technology companies such as Re- industry, but roaming pacts signed by mand pressure, rose marginally a Year Post Fuel Supply Pacts charya, economist, Axis Bank. liance Communications and Tata Teleser- its contours Bharti Airtel, Vodafone Es- to 4.9% in May from 4.8% in April. Spectrum-sharing may be Before Thursday’s inflation da- Coal India expects a hit of `. 6,000 crore per year vices are unhappy with the proposals. are yet to be sar and Idea Cellular that Exports fell 4.2% in May from a permitted without any riders ta, the Reserve Bank was widely on its revenues from next year as it cuts spot Reduction of the reserve price is a major finalised allow these companies to year ago, heightening slowdown demand of all telcos, but both Reliance provide high-speed data fa- fears after industrial growth expected to cut repo rate, or the sales to accommodate power producers. GSM cos will be allowed to retain Communications and Tata Teleservices cilities on a pan-India basis. came in flat in April. The economy rate at which it lends to banks, by Corporate3 part of their holdings in 900 MHz band and refarm only have sharply criticised the DoT’s plan to A top DoT official confirmed the depart- expanded 6.5% in 2011-12, a nine- 50 bps after a similar cut in April. llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll remaining airwaves make incumbents pay the auction-deter- ment was preparing a package that may of- year low, increasing the pressure But the uptick in inflation has mined price for their existing 2G airwaves fer many incentives to the industry, but said on the RBI to cut rates to revive in- raised doubts about the extent of Tata Communications in Talks to over the remaining licence period. All tele- its contours were yet to be finalised. vestment and spur growth. monetary action. Govt may not pursue plans to impose com licences in the country are valid for 20 Telecom Minister Kapil Sibal and DoT Sec- “Despite the continuing persist- a one-time charge retrospectively on Buy Big Stake in Prizm Payments years, and unlike pure-play GSM operators retary R Chandrasekhar have outlined ence in headline WPI inflation, Driven by Primary Products3 GSM operators for all excess 2G spec- Tata Communications is negotiating to buy a big like Bharti Airtel and Vodafone, the dual- parts of the proposed deal in their recent trum they hold beyond 6.2 MHz stake in Chennai-based Prizm Payments Ser- technology companies have more than 10 meetings with senior executives of mobile vices to expand its payment services business. Both govt and operators must drop all years to go before their permits expire. phone companies. court cases against each other The proposal to make telcos pay for exist- Corporate5 ing spectrum will enable the government Several Permutations & Combinations3 Hapless Cong Looks Tata Power to Shelve Projects 3 llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll 10-MT GUJARAT, ANDHRA PRADESH UNITS ON THE BLOCK; COULD FETCH `. 9,000 CRORE Macquarie Questions HDFC Profits, to Divide & Rule but Mortgage Lender Begs to Differ HDFC is adopting aggressive accounting practic- OUR POLITICAL BUREAU es to inflate earnings and return on equity, says Birla, Lafarge Eye JP Cement Plants NEW DELHI VIEW a Macquarie Securities Research report. But the With Mamata Banerjee on collision course with the Congress, the HDFC management has countered the view. said a senior official at Jaypee Cement. SABARINATH M, RAVI TEJA SHARMA & AV Birla Group cement business head OP grand old party's leadership is Do Netas Care? Markets + Finance9 MAULIK VYAS Puranmalka did not want to comment on Cementing Deals banking on driving a wedge be- MUMBAI | NEW DELHI what he said was market speculation. tween the newly-formed alliance of Do politicians care what llllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllll Deal Price (` cr) The AV Birla Group and French cement gi- A Lafarge India spokesperson also declined the Trinamool Congress chief and Date Buyer Seller their petty shenanigans do Allen Stanford Sentenced to 110 ant Lafarge are in talks to buy out Jaipra- comment. Samajwadi Party leader Mulayam to the economy? The politi- kash Associates’ cement plants in Gujarat Jaypee was forced to revise its plan last year Singh Yadav to avoid a contest in the Yrs in Prison for $7-b Ponzi Scheme 583 cal crisis Mamata Banerjee and Andhra Pradesh, after the New Delhi- after investors failed to show interest in buy- Nov, ’11 Jaypee Andhra presidential polls. Allen Stanford, the former Texas billionaire con- based company decided to spin off the assets ing out the complete cement The Samajwadi Party chief on has created over the presi- victed of running a $7-billion Ponzi scheme, was into a separate company to attract buyers business. Among other 280 Thursday evening appeared reluc- dential poll is the latest sentenced to 110 years in prison on Thursday. willing to pay a premium. Jaypee spun things, investors, including May, ’11 Grasim Domsjo tant to share Ba- piece of evidence to suggest The two leading cement players have been off Gujarat, the AV Birla Group, wanted a DIDI DIDN’T nerjee’s enthusi- US District Judge David Hittner said Stanford’s Fabriker they don’t. No one in the rul- in talks with the Jaypee Group for some time Andhra majority stake while the Jay- BETRAY: TMC asm for a full actions were one of the most “egregious crimi- and there are indications the deal could hap- units into a pee Group was only willing to 11,459 PAGE 2 frontal attack on ing UPA or the Opposition nal frauds”. the Congress par- pen this time around with either of the two separate firm offer a minority share. Nov ’09 Ultratech Samruddhi has come up with a constru- companies or with Holcim, another large after it failed The revised plan called for ty, which was confronted with the ctive solution out of the pol- contender also believed to be in the race. to sell the hiving off the plants in south- prospect of fielding a candidate 247 icy paralysis that India Inc Sinking Feeling People close to the development said offi- complete ern and western India, totall- May ’08 Heidelberg Indo Rama against popular former president cials from Lafarge and the AV Birla Group cement ing a capacity of 9.8 million APJ Abdul Kalam.
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