Airtel retains top slot with 30% market share

New Delhi
By adding another 3.15 million subscribers during October, Airtel maintained its position as the country’s top telecom service provider with 29.90% market share. As per the latest figures released by the Cellular Operators Association of India, Airtel now has a subscriber base of 285.20 million followed by Vodafone (208.32 million) and Idea (190.87 million). TNS

New Delhi
RCom shares soar 12% on assets sale buzz

Shares of Reliance Communications (RCom) rose sharply by 12% on Tuesday amid reports that lenders of the debt-ridden firm have approved the sale of its real estate assets in Delhi and Chennai to a Canada-based company. The stock jumped 11.62% to settle at Rs 13.45 on the BSE. Intra-day, it surged 14.10% to Rs 13.75. PTI

New Delhi
OVL buys 15% stake in Namibian oil block

ONGC Videsh Ltd (OVL), the overseas arm of ONGC, today said it has acquired 15% stake in a oil block in Namibia. In a statement, OVL said its indirect subsidiary ONGC Videsh Vankorneft Pte Ltd (OVVL)) has signed binding agreements with Tullow Namibia Ltd, a wholly owned subsidiary of Tullow Oil plc, for the stake buy. TNS

New Delhi
RIL raises $800 million through bonds

Reliance Industries (RIL) on Tuesday said it has raised $800 million by selling 10-year bonds — the first offering since Moody’s raised India’s sovereign rating. The bonds were priced at 3.66%, the lowest coupon ever achieved by an Indian corporate for a 10-year issuance. PTI

New Delhi
Xiaomi sets up third party unit in India

Smartphone maker Xiaomi on Tuesday said it has tied up with Hipad Technology for third-party manufacturing of its power banks in India. This is the company’s third contract-manufacturing unit in the country and is located in Noida. PTI