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Telecom shares rise a day after spectrum auction’s concludes
Mumbai: A day after the spectrum auction ended, the scrips of major telecom companies traded with healthy gains during the afternoon session at the BSE on Thursday.
The scrip of telecom major Bharti Airtel, was up 0.87 percent at Rs.398.30 per equity share on the Bombay Stock Exchange (BSE) from its previous close of Rs.394.85 per equity share around 12.35 p.m. Thursday.
Tata Communications’ scrip at the BSE was up 0.34 percent at Rs.406.90 from the previous close of Rs.406.35 per equity share.
Idea Cellular’s stocks at the BSE rose 1.79 percent at Rs.176.50 per equity share from its previous close of Rs.173.40.
However, scrip of Reliance Communications was down 0.08 percent at Rs.61.10 per equity share from its close of Rs.61.15 per equity share.
Stocks of Reliance Industries which participated in the auction through its upcoming subsidiary Reliance Jio, were down 0.46 percent at Rs.840.88 per equity share from its previous close of Rs.844.70.
The e-auction of radio frequency spectrum, or airwaves, for telecom operators had concluded Wednesday after 19 days and 115 rounds of rigorous bidding with officials placing the provisional estimate of commitments at Rs.109,874 crore — the highest ever.
This amount can be considered as a windfall for the government as it has surpassed the previous high of Rs.106,200 crore that it had received in the 2010 auction, which was spread over 34 days with 183 rounds of bidding.
The eight companies that participated in the auction were: Reliance Communications, Reliance Jio, Bharti Airtel, Vodafone India, Tata Teleservices, Uninor, Idea Cellular and Aircel. The winners will have to pay around a third of the winning bid price within 10 days and the rest by 2027.
On offer were blocks for 69 service areas at a total reserve price of Rs.80,277 crore, and the provisional allocation was announced for 63 of them at a winning price of Rs.109,874.91 crore. In 50 service areas, the winning bids went at a premium.
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.