FM
radio Phase-III gets government nod; FDI upped to 26%
Govt expects to earn Rs17.33bn as it approves an ascending e-auction system; foreign
holding limit upped from 20 to 26 per cent and news from AIR allowed. UPDATED!
Scale
and consolidation to be FM radios story
Indias FM radio will get a new push as companies seek to conquer parts of
the country they were denied to operate from, expand footprint, build scale, lure
investors and broadcast news from All India Radio. Radio
firms ride high on Phase-III nod
With FM radio Phase-III getting the government nod, the listed radio companies
have gained at the bourses; shares of ENIL close at Rs 278.75, up 5.75%, and RBNL
jumps 7%. |