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Tribunal asks TRAI to re-examine Jio free offers, declines stay

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Reliance Jio

New Delhi, March 16: The telecom tribunal on Thursday asked the sector regulator to re-examine issues pertaining to Reliance Jio’s free promotional offers. However, no stay was given on the offers.

The Telecom Disputes Settlement and Appellate Tribunal (TDSAT) also directed the Telecom Regulatory Authority of India (TRAI) to re-examine the issues and inform it within two weeks.

Telecom majors Bharti Airtel and Idea Cellular had lodged a complaint with the telecom tribunal against TRAI for letting new entrant in the sector, Reliance Jio to continue with its promotional offers beyond 90 days. Reliance Jio, had launched free voice and data plan in September 2016 and had extended it till March 31, 2017.

However, the tribunal did not order a stay, as was sought by the incumbent telecom operators. Last week, the tribunal had reserved its order on an appeal by the two operators.

Wefornews Bureau

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Hike in petrol, diesel prices continues

Petroleum Minister Dharmendra Pradhan on Monday said that the government was looking at ways to keep rising fuel prices in check.

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New Delhi, May 22 : The hike in Petrol and diesel prices continued for the ninth day on Tuesday amidst reports that the government was mulling steps to check it.

Petrol prices were hiked in the range of 29-32 paise per litre across Delhi, Kolkata, Mumbai and Chennai, while diesel prices were lifted by 26-28 paise per litre, compared to the previous day.

On Tuesday, a litre of petrol was sold at Rs 76.87 in Delhi, Rs 79.53 in Kolkata, Rs 84.7 in Mumbai and Rs 79.79 in Chennai, according to Indian Oil.

Diesel was sold at Rs 68.08 per litre in Delhi, Rs 70.63 per litre in Kolkata, Rs 72.48 per litre in Mumbai and Rs 71.87 per litre in Chennai.

Petroleum Minister Dharmendra Pradhan on Monday said that the government was looking at ways to keep rising fuel prices in check.

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Equity indices close marginally higher; auto, metal stocks gain

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sensex

Mumbai, May 22: The key Indian equity indices provisionally closed in the green on Tuesday, although with marginal gains on the back of value buying by investors, after declining for five sessions in a row.

According to market analysts, healthy buying activity was witnessed in auto, metal and healthcare stocks.

However, weakness in global markets and rise in crude oil prices restricted further gains on the Indian indices.

At 3.30 p.m, the broader Nifty50 of the National Stock Exchange (NSE) provisionally closed at 10,536.70 points — up by 20 points or 0.19 per cent — from its previous close of 10,516.70.

The barometer 30-scrip Sensitive Index (Sensex), which had opened at 34,601.49 points, closed at 34,651.24 points (3.30 p.m) — higher 35.11 points or 0.1 per cent — from its previous session’s close of 34,616.13 points.

The Sensex touched a high of 34,754.60 points and a low of 34,550.22 points during the intra-day trade. The BSE market breadth was tilted towards the bulls with 1,444 advances against 1,182 declines.

The major gainers on the BSE were Dr Reddy’s Lab, State Bank of India (SBI), Bajaj Auto, Tata Motors and Coal India, while Asian Paints, Axis Bank, Tata Consultancy Services, IndusInd Bank and Power Grid were among the major losers.

On the NSE, the top gainers were Dr Reddy’s Lab, SBI and Bajaj Finserv. The major losers were Indian Oil Corp, Ultratech Cement and Bharti Infratel.

IANS

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India’s Ola in 3 more Australian cities

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New Delhi, May 22: Indian ride-sharing major Ola on Tuesday expanded its services in Australia to three more cities — Brisbane, Gold Coast and Canberra.

To celebrate its launch in these cities, Ola is offering discounted rides from Tuesday. Customers can download the Ola app either from Google Play or iOS App Store, register for an Ola account and begin booking their rides.

“Customers in these cities can book discounted rides using Ola app starting Tuesday,” the city-based online cab aggregator said in a statement here. The online transportation network company has been operating in Perth, Sydney and Melbourne since it forayed into the island-nation early in 2018.

So far, over 30,000 driver-partners have registered themselves with the company since its launch in Australia on January 30, the statement said.

“Over the coming months, Ola is working on its rollout in other Australian cities Adelaide, Darwin and Hobart,” it added.

Founded in 2011, Ola has been competing against Uber in the Indian ride-hailing market. The seven-year-old Ola claims to have over 125 million users in 110 cities across India.

WeForNews

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