TCS Q2 Net Up 44% To Rs 3,512 Cr, Beats Forecast | Sensex Down 109 Pts

Friday, Oct 19, 2012 2G AUCTION: AMBANI BROS, SISTEMA STAY AWAY   Bharti Airtel, Vodafone, Videocon, Tata Teleservices and Telenor are among the telecom biggies who applied today in the upcoming spectrum auction. Reliance Communications, run by Anil Ambani, and Reliance Industries, run by Mukesh Ambani, chose not to put in any applications at all. The only other absentee was Sistema Shyam Teleservices, which is already locked in a bitter dispute with the government over the cancellation of its licences. Also, no new foreign operator has put in an application for these auctions despite the government making special provisions to enable new foreign telcos to apply. The deadline for submission of applications ended this evening. read mo re   LEAD STORIES TCS Q2 NET RISES 44% TO RS 3,512 CR, BEATS FORECAST   TCS revenues grew 34.3% to Rs 15,621 cr beating expectations. It added 41 clients and 10,531 staff in the September quarter. read more POWER, METAL SHARES DRAG SENSEX DOWN 109 PTS   Snapping a 2-day rally, Markets fell on profit booking in power, metal & capital goods shares, amid weak global cues.Nifty down 34.45 pts at 5,684.25. read more TOP STORIES • Rupee falls 43 paise; approaches 1-mth low of 54-level   • ITC Q2 net up 21% to Rs 1,836 cr, beats estimates   • Starbucks opens first India store in Mumbai   • Indian Hotels stock falls over 5% after Orient-Express bid   • Tata expects Orient-Express reply to offer in 3 weeks   • FIBP clears Brooks Brothers, Pavers investment plans   • SC seals Deccan Chargers' termination   • Deccan Chronicle exits CDR forum   • Religare Health Trust lists on the Singapore Exchange   • SEBI can take action against Sahara: SC   • RIL makes 1st purchase of Canadian heavy oil   • Kingfisher Airlines extends lockout till Oct 23   • AI employees set to raise banner of revolt again   • EPFO likely to give 8.6% interest in 2012-13   • 1 of 3 Indians to have Aadhaar no. by 2013: Nilekani   • SC notice to Mamata for appointing convicted doctor   • HK tycoon Li back in insurance with $2.1 bn ING deal   • Microsoft's Q3 profit plunges 22% as PC sales shrink   • Google, Samsung's cheapest Chromebook at $249   • Yahoo to exit South Korea in first Asian pull out   more stories TOP VIDEOS Pricing Should Be Driven By The Value It Creates In The System. We Will Continue To Defend Intellectual Property And Tier Pricing: Andrew Witty, Global CEO, GlaxosmithKline   Inflation To Rise On Fuel Hikes And Higher Food Prices From Wea k Monsoon. See Little Room For The RBI To Cut Policy Rates: Leif Eskesen, Chief Economist - India & ASEAN, HSBC   AT A GLANCE BSE 18682.31 -109.62 NSE 5684.25 -34.45 TURNOVER Rs. 205,434 cr BSE CASH Rs. 2,146 cr NSE CASH Rs. 10,564 cr NSE F&O Rs. 167,403 cr BULLION GOLD 31396 +21 SILVER 60317 -415 CRUDE NYMEX 92.01 -0.09 BRENT 112.43 +0.01 FOREX $ / Re 53.84 +0.43 £ / Re 86.257 +0.29 € / Re 70.127 +0.11 EVENTS TO WATCH 22 October FM To Meet Sushil Modi, Chairman, Empowered Committee of State FM To Clear GST Passage PM To Launch Aadhaar Based Delivery System Q2 Earnings: L&T, HDFC 26 October Microsoft To Launch Windows 8 30 October RBI Credit Policy 1-2 November Morningstar Investment Conference 2012, Grand Hyatt, Mumbai 2 November India Business Leader Awards 2012, Mumbai

"There is no finding or suggestion by the CAG report that CDMA spectrum was equally or anywhere near in demand as GSM. SSTL believes it has a strong case and is determined to await its hearing. Considering the level of recommended spectrum prices which makes the business case unviable, SSTL had no choice other than not to take part in the 2G auctions for 800 Mhz. SSTL would like to once again reiterate that it is hopeful that the highest court of the land will speedily look into the merits of its case and will give it justice." Sistema Shyam Tele Services Statement "We have very good friendship with RIL. We have submitted application for both GSM & CDMA convincing the board for investment in telecom and that it will not be an issue. Mukesh Ambani's advice will continue for Videocon group...Spoke to Mukesh Ambani even yesterday on bidding for 2G." Venugopal Dhoot CMD, Videocon "I think the growth would be organic, and clearly this is one of the largest markets in the world. The fact that we do not have many stores here, and we have tried to get here, and now we are here, with Tata, we feel we have an enormous opportunity and we are here to significantly invest in India and grow the business. We are deeply committed to building a leadership position in India." Howard Schultz Global CEO, Starbucks

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Overdrive on Track   This weekend, Overdrive On Track is at Maranello, home of the oldest & most storied name in Formula 1 - Scuderia Ferrari. We dive into Ferrari's history & heritage, travel to the UK to visit the Mclaren Technology Centre at Woking, hear from Red Bull Racing's Technical Director Adrian Newey as well as gain insight on F1's "cutting edge" technology from Sauber F1. SHOW TIMINGS Sat 11:30am & 10:30pm