JSW Steel to join telecom rush
JSW Steel to join telecom rush >It seems that India will not only rule the world in terms of telephone users but also in terms of telecom operators. JSW steel is primarily engaged in the business of steel and power projects, while Tulip IT is a data telecom service and IT solutions provider. In the last few days, more than 13 companies have applied for the teleocm licenses. Earlier this week, Infrastructure major DLF applied for telecom licences. With this, DLF has become the fourth real estate company to do so, after Ind ia Bulls Real Estate, Unitech and Parsvnath Developers. Already thirteen companies have applied for the telecom licences, which include Reliance Anil Dhirubhai Ambani-backed Swan and Cheetah Telecom, HFCL and the Ruia-backed BPL etc. Shares of the company gained Rs 27.8, or 3.38%, to trade at Rs 851.05. The total volume of shares traded was 186,520 at the BSE.(Friday)
Sajjan Jindal-led JSW Steel has joined the party to get telecom licenses, while IT firm Tulip is also understood to be considering foray in the largest rapidly growing sector, reports Economic Times.
