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Swedish telecom gear maker Ericsson expects significant use cases to emerge in India for 5G services that will drive densification of telecom networks in the country, a senior company official said on Wednesday. Ericsson India Managing Director Nitin Bansal, at a company's event to showcase 5G technology, said the company is actively engaging with academia, partners, and ecosystem players to develop relevant India-specific use cases. "Significant use cases will emerge in India within the next 12 to 24 months, facilitated by the network slicing capability of 5G technology," Bansal said. India continues to be a strategic market for us and the second-largest market for Ericsson, he added. When asked about green shoots for Ericsson in India after investment in the 5G network rollout is tapering down, Bansal said the demand for 5G will demand for densification of networks. "While the 5G rollouts have stabilised in the country given the rapid rollout and expansion of last year, we do, however, expect 5G adoption in India to grow, given the strong data demand in the country and the digitalisation initiatives by enterprises. "This will involve the densification and modernisation of telecom infrastructure, along with enhancements to OSS/BSS systems to accommodate evolving network and billing needs," he said. Ericsson reported a decline in India business in the March quarter after a record 2023, as the market started transitioning to more normal investment levels. Its sales in Southeast Asia, Oceania and India declined by 38 per cent to 8.5 billion Swedish Krona (SEK), about Rs 6,645 crore, in the March 2024 quarter from 13.9 billion (SEK), about Rs 10,730 crore, a year ago. Recent Rs 18,000 crore fund raised by debt-ridden Vodafone Idea (VIL) and guidance by the company to invest up to Rs 55,000 crore is likely to enthuse network gear vendors, but Ericsson refused to comment on the telco's plan. VIL has announced that it will focus on expanding 4G network coverage and 5G in main cities. When asked about the potential of 4G, given the advent of 5G in India, Bansal cited the Ericsson Mobility Report, which states that 4G continues to be the dominant subscription type driving connectivity and fuelling data growth in the region. However, as subscribers migrate to 5G, 4G subscriptions are forecast to decline from 870 million in 2023 to 390 million by 2029, as per the report. Ericsson, Head of Network Solutions - Strategic Network Evolution Market Area South East Asia, Oceania and India, Ng Thiaw Seng said the company manufactures 5G gears in India due to very high demand, but now it has started producing for other parts of the world as well.

Warburg Pincus, through its subsidiary White Iris Investment, has sold its entire stake in Apollo Tyres through block deals on Wednesday.The leading global PE firm offloaded about 3.5% stake or 2.24 crore shares in the transaction at Rs 477.35 apiece, taking the deal value to around Rs 1,072 crore.Marquee funds, including Goldman Sachs, Morgan Stabley, Mirae Asset MF, Societe Generale, Citigroup, ICICI Pru MF, bought stakes in the company.According to the latest shareholding data available with the exchanges, Apollo Tyres is majority owned by public shareholders with 62.64% stake, while promoters own the remaining 37.36%.Among the public shareholders, mutual funds have a significant 16.77% stake and foreign investors hold about 17.61% stake, as of March 2024.Apollo Tyres incorporated in 1972, is a midcap company (market cap of Rs 30,621.39 crore) operating in tyre sector.In December last year, White Iris Investment had sold a 4.5% stake in Apollo Tyres for Rs 1,281 crore through multiple block deals.In the recent March quarter, the tyre major reported a 13.7% year-on-year (YoY) decline in net profit at Rs 354 crore. In the corresponding quarter, it posted a net profit of Rs 410.3 crore.Meanwhile, the company's revenue from operations increased 0.2% to Rs 6,258 crore against Rs 6,247.3 crore in the corresponding period of the preceding fiscal.At the operating level, EBITDA increased 3% to Rs 1,028 crore in the fourth quarter of this fiscal over Rs 998.4 crore in the year-ago period. The EBITDA margin stood at 16.4% in the reporting quarter compared to 16% in the corresponding period in the previous fiscal.On Wednesday, Apollo Tyres shares closed 1.9% higher at Rs 491.80 on NSE.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

As a move to infuse young blood into the experienced leadership of Tata Trusts, the organization overseeing the $150-billion Tata Group, Noel Tata's three children have been appointed to the boards of its five philanthropic organizations.Leah (39), Maya (36) and Neville (32) have been made trustees of five Trusts - affiliates of Sir Dorabji Tata Trust and Sir Ratan Tata Trust, the primary entities within Tata Trusts. These five Trusts own a stake in Tata Sons, the holding company of the salt-to-software conglomerate. Noel, Ratan Tata's half-brother, is the chairman of Tata Group companies like Trent and Voltas and a trustee of Tata Trusts.This represents the inaugural occasion where six members of the Tata family are actively involved with the Trusts. Jimmy Tata, the younger brother of Ratan Tata, holds positions on the boards of Sir Ratan Tata Trust, Bai Hirabai J N Tata Navsari Charitable Institution, and Sarvajanik Seva Trust. Meanwhile, Noel Tata is affiliated with Sir Dorabji Tata Trust, Sir Ratan Tata Trust, JN Tata Endowment, and Bai Hirabai JN Tata Navsari Charitable Institution.110337811According to TOI sources, involving the millennial generation in smaller Trusts will groom them for more substantial responsibilities and promising roles within the broader Tata ecosystem, potentially including board positions in operating companies.These appointments also signify a change at the 132-year-old Trusts, which have traditionally been overseen by experienced individuals. Leah, Maya, and Neville have held managerial roles in different Tata operating companies and will retain these positions while taking on trusteeship responsibilities.Leah serves on Tata Education Trust, Tata Social Welfare Trust, and Sarvajanik Trust. Maya's portfolio includes RD Tata Trust, Tata Education Trust, and Sarvajanik Trust. Neville joins the ranks of JRD Tata Trust, RD Tata Trust, and Tata Social Welfare Trust. Furthermore, Neville has been named to the board of Tata Indian Institute of Skills, a non-profit training organization formed by Tata Education and Development Trust, Tata Sons, and the government.These appointments follow Leah, Maya, and Neville's induction onto the board of Tata Medical Centre Trust, which oversees a cancer hospital in Kolkata, two years ago. Approved by Tata Trusts chairman Ratan Tata, their new roles took effect on May 6.Leah, a graduate of IE Business School in Madrid, Spain, has predominantly served with the Indian Hotels Company, which operates the Taj chain, save for a brief internship with Louis Vuitton in 2010.Maya, who completed her studies at Bayes Business School and the University of Warwick in the UK, boasts experience across multiple Tata companies, currently contributing to the revamp of Tata Digital.Neville, the youngest sibling, who is also a graduate of Bayes Business School, is associated with Trent. This company, established by his grandmother Simone and overseen by his father, owns Westside and Zudio.(With TOI inputs)

Sebi's new guidelines for managing stock price impact arising from market rumours will ensure that the share price used in the merger and acquisition (M&A), buyback, and other transactions are not artificially influenced by speculative market activities, experts said on Wednesday. Market rumours pertaining to a company's business can create significant volatility in stock prices, often leading to transactions that don't reflect a company's true value. This market rumours could be related to anything, including exiting of top management, cancellation of an order and financial health. "Sebi's framework addresses this issue by establishing a mechanism to determine the unaffected price -- the price of a stock before the rumour surfaced. "This price would be used for transactions unless the rumour itself caused price fluctuations in subsequent trading days," Trivesh, Chief Operating Officer of Tradejini, said. In its circular on Tuesday, Sebi outlined the framework for calculating the adjusted Volume Weighted Average Price (VWAP) for considering unaffected prices in transactions. The guidelines also mandates that the adjusted VWAP be calculated by excluding the price variations attributable to the rumour, thereby reflecting the stock's value before the market reaction to the rumour. The aim is to exclude price disruption caused by rumours while determining the price for acquisition. Generally, unaffected price refers to the share price of a company in case there is no market rumour. Since sharp price movements could impact the overall value of a transaction, the regulator has suggested to consider a scrip's unaffected price. Under the Listing Obligations and Disclosure Requirements (LODR) Regulations, unaffected prices shall be considered for transactions on which pricing norms specified by it or stock exchanges are applicable. This requirement is also subject to the rumour pertaining to such a transaction being confirmed by the company within 24 hours from the trigger of material price movement. This prompt confirmation helps in curbing prolonged speculation and provides clarity to investors, Deputy CEO of Anand Rathi Wealth Feroze Azeez said. The requirement to verify market rumours will be applicable to the top 100 listed companies from June 1 and top 250 listed entities from December 1. Azeez further said the core objective of this framework is to ensure that stock prices used in transactions are not artificially influenced by speculative market activity. Sebi aims to establish a more accurate and fair pricing mechanism, by identifying and excluding the WAP variation caused by rumours. This approach helps in mitigating the risks associated with price manipulation and ensures that the transactions are based on their true value. The unaffected price will be applicable for a period of 60 days or 180 days based on the stage of a transaction, from the date of confirmation of the market rumour till the "relevant date" under the existing regulations. Tradejini's Trivesh said the new guidelines offer several benefits such as reduced market manipulation, fair valuations and increased investor confidence.

Nifty today ended 69 points higher to form a bullish candle with a long tail, indicating strong buying interest. The index is now making a higher high on both daily and weekly charts.Nifty is holding its position above the previous resistance zone of 22,590, which is now acting as a crucial support level. Immediate support is seen at 22,500, suggesting that any minor pullback could present a buying opportunity at this level. If the upward momentum continues, the index might move towards 22,750, with the potential to breach its all-time high of 22,794.70, said Om Mehra of SAMCO Securities.An analysis of Nifty put options reveals a concentration of Open Interest (OI) at the 22,500 level, implying potential support at this level. On the call side, significant OI concentrations are observed at the 23,000 and 23,100 levels.What should traders do? Here’s what analysts said:Rupak De, LKP SecuritiesNifty continues to trend bullishly, finding support at 22500. The index has been moving higher within a rising channel. The trend is likely to remain strong as long as it stays above 22,500. On the higher end, the index might move towards 22,800 in the short term, with immediate support at 22,600. A dip below 22,600 might briefly take the index towards 22,500.Shrikant Chouhan, Kotak SecuritiesHigher bottom formation on intraday charts and positive consolidation on daily charts suggesting strong possibility of a further uptrend from the current levels. For trend-following traders, 22,500/73,900 would act as a key support level. Above the same, it could rally till 22,700-22,735/74,500-74,600. On the flip side below 22,500/73,900, the uptrend would be vulnerable. Below 22,500/73,900, we could see one quick intraday correction till 22,400-22,380/73,600-73,500.Tejas Shah, Technical Research, JM Financial & BlinkXOur 1st target of 22,600 was achieved in today’s trading session. We believe that the rally in Nifty is likely to continue and it can retest the previous all-time high levels of 22,800 on the higher side. The short-term moving averages are just below the price action and should continue to support the indices on any decline. Support for the index is now seen at 22,550 and 22,400 levels. On the higher side, the crucial resistance zone for Nifty is at 22,750-800 levels (previous all-time high) and the next psychological resistance is at the 23,000 mark. Overall, all dips should be used as an opportunity to buy.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)