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US market ends firm; MTNL ADR up 3%
US markets advanced on Monday, sending indexes to fresh 13-month closing highs, after Federal Reserve Chairman Ben Bernanke reinforced expectations that interest rates would stay low to help growth.

Markets at a glance
The markets began on a weak note with the BSE Sensex closing at its six-week low on Monday. Later, robust advance tax numbers triggered a rebound in the broader indices. Corporate advance tax payments for the quarter were up 44 per cent to Rs 48,300 crore against a decline in June quarter and a 15 per cent increase in September quarter. The market gained in three out of the four trading sessions in the week. While volumes were low ahead of an extended weekend on account of Christmas. FIIs bought stocks worth Rs 1,360 crore. The Sensex rose 640 points or 3.8 per cent to 17,361, while Nifty gained 190 points or 3.9 per cent to 5,178. However, mid caps and small caps underperformed.

News of the day

A cane that is good for you
BS Reporter / New Delhi November 22, 2009, 0:37 IST
Small Business

Bharti Airtel not looking to buyout Sprint: Manoj Kohli

Bharti Airtel is not looking at acquiring US telecom carrier Sprint, but would continue to focus on emerging markets where it sees huge potential for penetration, Group CEO Manoj Kohli said today. - Bharti Airtel planning to list a tower unit - Bharti Airtel Q3 net up marginally at Rs 2,209 cr - Bharti-Limelight link up to deliver multimedia services - Bharti Airtel partners Limelight for content delivery network - Volatile markets end flat on global cues, realty stocks fall - Bharti keen on buying African telecom PSUs "No. We are not looking at any such company (Sprint)... We are looking at emerging markets because our business model can be implanted well in these economies. We will continue our focus there," Kohli said while replying to a query if the company is looking to acquire Sprint. Expanding its international footprint, India"s largest mobile operator Bharti Airtel had earlier this month announced the acquisition of a 70 per cent stake in Bangladesh"s Warid Telecom. This is the second country in the SAARC (8-country economic and political grouping) region that the company has entered. Last January, Airtel launched services in Sri Lanka. Warid Telecom, a wholly-owned subsidiary of the Dhabi Group, offers services across all 64 districts of Bangladesh and has over 2.9 million users. Under the agreement Bharti Airtel will make a fresh investment of USD 300 million to rapidly expand Warid"s operations and will have management and board control. In India, Bharti Airtel boasts of over 110 million users.


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