Walk-in vaccination, Cairn looking for solution, and demand for cutting 5G prices: Three things Teji Mandi investors should know on May 24, 2021
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Walk-in Vaccination

The Brihanmumbai Municipal Corporation (BMC) has organised a walk-in vaccination drive. The civic body will conduct the drive between 24 and 26 May.

The BMC, in a statement, said that all the citizens aged 60 years and above will be covered under this initiative. It will also cover the second dose for frontline workers and citizens above 45 years.

The issue of vaccination shortage is expected to persist till June end. Before that, the government is in no position to start fresh vaccination and they need to use the available stock very prudently. In this context, it appears a right move to focus on the most vulnerable section of society.

In Search of a Common Ground

The government has sought to find a common ground in a retrospective tax dispute case with Cairn Energy.

Only last week, Cairn Energy had initiated the process of seizing the Indian assets abroad. It had sued Air India and several other assets, including oil fields and government buildings, were reportedly on its list. The proceeding was initiated to make the government pay up an arbitration of $1.2 billion-plus interest, which was withheld by the international court.

Cairn Energy does realise that seizing Indian properties abroad is easier said than done. Hence, it has been constantly pursuing the government to find a solution that is in the interest of everyone.

As for the Indian government, it is in their best interest to find a common ground. Their handling of this case will have a huge impact on how foreign investors would want to deal with India in the future.

Price Cut Likely for 5G Spectrum

The Department of Telecommunications (DoT) could lower the price band of 5G airwaves and the 700 MHz band in its next spectrum sales process. The department is also weighing on lesser upfront payment. This will help to attract bidding from telcos.

The operators like Reliance Jio, Bharti Airtel, and Vodafone Idea are seeking a price reduction of as much as 50% for the 3,300-3,600 MHz and 700 MHz bands. They are also seeking to increase the spectrum payment moratorium period beyond two years.

The higher price band is the major reason stopping telecom operators to bid aggressively for 5G spectrums. Demand for 5G spectrums was much lesser than anticipation during the March auction. DoT had sold only 37% of the over 2,300 units of spectrum across seven bands, with the 700 MHz bands going unsold for the second time.

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