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Telecom tariffs are "still very low" and pricing revival is critical for the long-term growth of the sector, Vodafone Idea Chairman Kumar Mangalam Birla said on Wednesday. Addressing Vodafone Idea Ltd (VIL) shareholders at the company's Annual General Meeting, Birla said the telecom industry had witnessed the first round of tariff hikes by all operators in December 2019. "However, tariffs are still very low and therefore pricing revival is critical for the long-term growth of the sector," he said. The Average Revenue Per User (ARPUs) in the Indian market continue to remain the lowest in the world, while data consumption is among the highest globally. "The verdict on the long-pending industry issue of Adjusted Gross Revenue or AGR also added to the financial woes of telecom operators... Efforts from the Government of India to soften the financial burden by recommending payment through instalments has now been upheld by the Supreme Court," Birla said. In a stock exchange filing, ...
Birla Tyres on Tuesday said its board will meet later this week to consider raising up to Rs 1,100 crore. The company's board will meet on August 28 (Friday) to consider capital raising options for an amount aggregating up to Rs 1,100 crore by way of equity or debt instruments, including non-convertible debentures, among others, Birla Tyres said in a regulatory filing. Post approval from the board, the shareholder approval, if required, will be sought, it added. The Kolkata-based firm, which caters to two-wheelers, three-wheelers and commercial vehicles, however, did not share reasons for raising capital.