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Markets subdued on global cues
The markets have been dragged down by weak global cues. The US stocks fell overnight after Dubai"s unresolved debt problems and Fitch Ratings" downgrade of Greece"s bond rating dented risk appetite. And corporate news in the States raised doubts about consumer spending, a key requirement for the recovery to take hold. And the dampening investor confidence rubbed off on the Asian investor in morning trades. http://smallpersonalloans.org.uk

New order boosts HCL Tech
HCL Technologies closed at Rs 355, higher by Rs 6 or 1%, on the BSE. It opened at Rs 350 and touched a high of Rs 357 and a low of Rs 349 during the day. The stock saw trading volumes of 517,850 shares as against the 2-week average of 172,036 shares.

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BSNL seeks exemption from Rs 3,000-crore licence fees
The state-owned telecom service provider Bharat Sanchar Nigam Ltd (BSNL) is planning to seek exemption from paying licence fees, stating a clause under the National Telecom Policy of 1999 (NTP ‘99). At present, the company pays around Rs 3,000 crore per annum as licence fee to the exchequer.
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After 3G, MNP heads towards uncertainty

Mobile phone users would have to wait anywhere from three to six months for the freedom to switch operators without losing their existing number, as companies are yet upgrade their networks. - Don"t justify surrendering connections: Par Panel to BSNL - DoT to auction three 3G blocks in all but two telecom circles - Abhishek Ind plans JV with Portuguese co - DoT may seek EGoM nod for three slots of 3G - Not inspecting books of RCom, says Khurshid - Fresh trouble in 3G; may be non-starter At a meeting between the Department of Telecom (DoT) and mobile service providers here today, operators expressed their inability to ring in Mobile Number Portability (MNP) from December 31, this year, as was scheduled. The facility was to come into force in the four metros -- Delhi, Mumbai, Chennai and Kolkata -- to begin with. Private operators aside, even the two state-run telecom firms -- BSNL and MTNL -- have said they would not be able to get their networks MNP-ready by December and have indicated they may need time till March next year. When contacted, a senior DoT official said MNP can be implemented only if the network is upgraded 100 per cent. In case some operators are not ready with their networks, it will not be possible to have number portability. "Hurried implementation (without 100 per cent upgradation of all networks) may be counter productive," the official added. The meeting was chaired by Telecom secretary P J Thomas with the operators including the PSUs, BSNL and MTNL, as well the two MNP service providers -- Synverse and MNP Interconnection Telecom (MITS). MNP is expected to help expand competition between the service providers, besides acting as a catalyst to improve quality of service. According to industry sources, a fourth of mobile users would like to shift to a new service provider. This is the second major initiative after 3G mobile telephony from the DoT that has been facing uncertainty. The 3G auction is scheduled to start on January 14, but has been plagued by problems ranging from lack of spectrum and also interest from operators. Even Prime Minister Manmohan Singh had said that MNP was expected to be introduced early next year which would force operators to improve the quality of services. Sources indicated that it may take up to six months to implement MNP services in the metros, and then the rest of India.


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