Power and Telecom

The bank's ratio of gross non-performing assets (NPAs) to gross advances increased to 5.44% as on 31 December 2013, from 4.98% as on 30 September 2013 and 3.67% as on 31 December 2012. The ratio of net NPAs to net advances increased to 2.93% as on 31 December 2013, from 2.82% as on 30 September 2013 and 1.93% as on 31 December 2012. Telecom stocks dropped on fears of heightened competition in the mobile spectrum auction. MTNL (down 2.87%), Reliance Communications (down 1.98%), Idea Cellular (down 1.92%), Bharti Airtel (down 2.62%) and Tata Teleservices (Maharashtra) (down 0.83%) declined. The auction of spectrum in the 1800 MHz and 900 MHz band began at 9 IST today, 3 February 2014. Till now, four rounds of bidding have been completed. Bids have been received in all 22 Service Areas in 1800 MHz band and in all 3 Service Areas in 900 MHz band. Thus, bidding has taken place in all the Service Areas in both bands, the Ministry of Communications & Information Technology said in a statement at 15:57 IST today, 3 February 2014. Shares of organised retailers declined after the Rajasthan state government reversed its earlier stand of allowing entry of global supermarket chains in the state. Trent (down 1.41%), Shopper Stop (down 2.53%) and Future Retail (down 1.89%) declined. Rajasthan, one of the 12 states that had agreed to allow global companies to open supermarkets, has scrapped the approval given by the previous government for foreign direct investment (FDI) in multi-brand retail. A letter reversing the decision was sent by Rajasthan Chief Minister Vasundhara Raje to commerce and industry minister Anand Sharma. Rajasthan has become the second state, after Delhi, to withdraw approval for FDI in multi-brand retail following a change of government after the assembly elections held in November-December. The Congress lost to the Bharatiya Janata Party in Rajasthan and to the Aam Aadmi Party in Delhi. The central government permitted 51% FDI in multi-brand retail trading in September 2012 and left its implementation to the states. Petron Engineering Construction jumped 8% after the firm said it has secured a contract worth Rs 99.76 crore from VISA Power, Kolkata, for execution of civil

job at VISA Raigarh thermal power plant, Chhattisgarh. The new order was announced during trading hours today, 3 February 2014.