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Bharti pips Tata to have second-largest market cap
By siliconindia
|
Tuesday, 06 January 2009, 18:00 IST
Bharti Airtel has surpassed Tata Group in market capitalization to become the second largest business group in India at 
13,3786.6 crore. The company was ranked below Mukesh Ambani led Reliance industries and surprisingly above the Tata group.
Bharti Airtel will launch services in Sri Lanka on January 12, and simultaneously roll out its 2G and 3G (third generation) services.Being the fifth player to enter the Sri Lankan airspace, its market competitors include Dialog Telekom, Tigo, Hutch and Mobitel. Ahead of its market entry, other operators have slashed tariff rates and are offering discounts with cellular connections.
Airtel had recently announced a minor reshuffle in its top brass as part of its exercise in bolstering its sales and marketing divisions, with executives from leading multinationals being drafted in for the purpose. This can be seen as an attempt by Airtel to increase its global footprint. Shares of the company declined Rs 22.35, or 3.17percent, to trade at Rs 682.45, yesterday.
Bharti's soured relationship with telecom rival Reliance Communications isn't something entirely new. In fact Reliance Communications and Airtel had unsuccessfully bid for South African telecom player, MTN. Their rivalry came to the fore once again when the Anil Ambani led group moved the Telecom Regulatory Authority of India (Trai)last month, by accusing Bharti Airtel of not having provided access to its Chennai submarine cable landing station.
13,3786.6 crore. The company was ranked below Mukesh Ambani led Reliance industries and surprisingly above the Tata group.
Bharti Airtel will launch services in Sri Lanka on January 12, and simultaneously roll out its 2G and 3G (third generation) services.Being the fifth player to enter the Sri Lankan airspace, its market competitors include Dialog Telekom, Tigo, Hutch and Mobitel. Ahead of its market entry, other operators have slashed tariff rates and are offering discounts with cellular connections.
Airtel had recently announced a minor reshuffle in its top brass as part of its exercise in bolstering its sales and marketing divisions, with executives from leading multinationals being drafted in for the purpose. This can be seen as an attempt by Airtel to increase its global footprint. Shares of the company declined Rs 22.35, or 3.17percent, to trade at Rs 682.45, yesterday.
Bharti's soured relationship with telecom rival Reliance Communications isn't something entirely new. In fact Reliance Communications and Airtel had unsuccessfully bid for South African telecom player, MTN. Their rivalry came to the fore once again when the Anil Ambani led group moved the Telecom Regulatory Authority of India (Trai)last month, by accusing Bharti Airtel of not having provided access to its Chennai submarine cable landing station.