Latest news with #GSAT
Economic Times
05-08-2025
- Business
- Economic Times
IN-SPACe blocks Chinese-owned AsiaSat services in India beyond March 2026; Zee, JioStar begin migration to other satellites
Synopsis India will not allow AsiaSat's AS-5 and AS-7 satellites after March 31, 2026. This decision comes from the Indian National Space Promotion and Authorisation Centre. Concerns exist over AsiaSat's Chinese ownership. JioStar and Zee Entertainment are moving to other satellites. The move aligns with India's focus on national security. New rules require government approval for foreign satellites. Agencies Representational image The Indian National Space Promotion and Authorisation Centre (IN-SPACe) has withdrawn authorisation for the use of satellite capacity from Asia Satellite Telecommunications Company's (AsiaSat) AS-5 and AS-7 satellites in India beyond March 31, 2026, the ministry of information and broadcasting (MIB) said in an advisory on Monday. While the government has not specified the reason for withdrawal of IN-SPACe authorisation, sources privy to the development said the move stems from concerns over the company's significant Chinese ownership. AsiaSat's key shareholders include Chinese government-owned CITIC Group Corporation, formerly known as China International Trust and Investment Corporation, and Carlyle Asia Partners IV, LP. Currently, broadcasters such as JioStar and Zee Entertainment rely on these AsiaSat satellites to beam their channels. "JioStar and Zee Entertainment are in the process of migrating to government-authorised satellites including GSAT and Intelsat," said an executive familiar with the development. AsiaSat operates six in-orbit satellites: AsiaSat 4, 5, 6, 7, 8 and 9, along with associated teleport infrastructure. The withdrawal of access to AS-5 and AS-7 signals a decisive shift in India's approach to satellite communications, aligning it more closely with national security and strategic autonomy in a communication dated July 21, 2025, confirmed that Inorbit Space Telecommunications had been authorised to provision AS-5 and AS-7 capacity until March 2026. After that, the satellites can no longer be used for communication services in Space Telecommunications was incorporated on June 20, 2024 and has Rajdeepsinh Gohil and Rohit Arora as directors. Gohil, who is the MD of Inorbit Space Telecommunications, has been associated with AsiaSat for over a decade in multiple roles, according to his LinkedIn profile.'Further clarification with regard to authorisation of these satellites, if any, may be sought from IN-SPACe, being the nodal agency for matters related to authorisation of satellites,' the MIB said in its directive aligns with the broader regulatory overhaul introduced last year, which requires all satellite TV channels and teleport operators to obtain government-backed authorisation via IN-SPACe before using foreign satellite July 10, 2024, the MIB permitted a temporary extension for existing foreign satellite capacity arrangements in C, Ku, or Ka bands until March 31, 2025. This was later extended to September 30, fresh applications for satellite capacity authorisation must now be submitted by Indian entities such as subsidiaries, joint ventures, or authorised representatives of the foreign satellite operator through the IN-SPACe portal.'Fresh authorisation from IN-SPACe shall be required for non-Indian satellites already provisioning their capacity in India,' the advisory said. It added that no additional capacity or new foreign satellites will be permitted without such authorisation after September 30, October 1, 2025, only non-Indian satellites explicitly authorised by IN-SPACe will be allowed to offer their capacity in India across any frequency to the Indian Space Research Organisation (Isro), India currently operates a fleet of 19 communication satellites across C, extended C, Ku, Ka/Ku and S bands. Of these, 12 are managed by NewSpace India Limited (NSIL), the commercial arm of the Department of Space.
Yahoo
07-07-2025
- Business
- Yahoo
Globalstar Begins Major C-3 Satellite System Ground Expansion with First Antenna Installation in Texas
Globalstar Inc. (NASDAQ:GSAT) is one of the best hot stocks to buy according to Wall Street analysts. On June 30, Globalstar announced the successful installation of Clifton-8. This 6-meter tracking antenna is the first dedicated to Globalstar's upcoming C-3 mobile satellite system. It marked the official commencement of a significant global expansion of the company's ground infrastructure for its new Extended Mobile Satellite Services/MSS Network. The initial installation took place at Globalstar's largest and longest-operating ground station in Clifton, Texas. The site has been providing continuous service for over 2 decades and plays a crucial role in supporting satellite coverage across the continental US, Mexico, and Canada. Clifton-8 is the eighth tracking antenna installed at this particular station and is the first of 5 new antennas planned for the Clifton facility to specifically support the C-3 system. A satellite launch, representing the company's two-way voice and data products. The installation of Clifton-8 is the initial step in a broader and months-long process. Globalstar plans to deploy 90+ new antennas across ~35 ground stations located in 25 countries and territories worldwide. This initiative involves both upgrades to existing ground stations and the construction of new facilities. Globalstar Inc. (NASDAQ:GSAT) provides mobile satellite services in the US, Canada, Europe, Central and South America, and internationally. While we acknowledge the potential of GSAT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-06-2025
- Business
- Yahoo
Globalstar, CERES TAG Partner to Combat New World Screwworm Outbreak in Mexico
Globalstar Inc. (NASDAQ:GSAT) is one of the best telecom stocks to buy according to Wall Street analysts. On June 24, Globalstar announced its continued partnership with CERES TAG for supporting the livestock industry, particularly in light of the recent New World Screwworm outbreak in Mexico. The outbreak in Mexico has caused a border closure on live animal imports and put cattle producers on high alert. The New World Screwworm poses a threat to animal welfare and herd productivity. Over the last decade, the direct economic impact of zoonotic diseases has been an estimated $20 billion, with indirect impacts reaching $200 billion. A satellite launch, representing the company's two-way voice and data products. CERES TAG's smart ear tags are instrumental in livestock monitoring, providing real-time behavioral data, GPS location, and biosecurity triggers. This information is transmitted without reliance on cellular infrastructure, using Globalstar's satellite network to ensure uninterrupted connectivity even in the most remote ranching areas. Globalstar Inc. (NASDAQ:GSAT) provides mobile satellite services in the US, Canada, Europe, Central and South America, and internationally. CERES TAG specialises in direct-to-satellite animal health intelligence technology. While we acknowledge the potential of GSAT as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
11-06-2025
- Business
- Yahoo
GSAT Q1 Earnings Call: New IoT Launches and Satellite Investments Shape Outlook
Satellite communications provider Globalstar (NASDAQ:GSAT) missed Wall Street's revenue expectations in Q1 CY2025, but sales rose 6.3% year on year to $60.03 million. On the other hand, the company's full-year revenue guidance of $272.5 million at the midpoint came in 3.1% above analysts' estimates. Its non-GAAP loss of $0.09 per share was 33.7% below analysts' consensus estimates. Is now the time to buy GSAT? Find out in our full research report (it's free). Revenue: $60.03 million vs analyst estimates of $63.83 million (6.3% year-on-year growth, 5.9% miss) Adjusted EBITDA: $30.35 million vs analyst estimates of $31.21 million (50.6% margin, 2.8% miss) The company reconfirmed its revenue guidance for the full year of $272.5 million at the midpoint Market Capitalization: $2.68 billion Globalstar's first quarter performance was shaped by continued expansion in its wholesale capacity services and increased adoption within its commercial Internet of Things (IoT) offerings. Management attributed service revenue growth to higher demand for wholesale capacity and the successful introduction of new IoT devices and services. CFO Rebecca Clary emphasized the impact of ongoing investments in the XCOM RAN product, which led to higher costs but was offset by revenue gains from core businesses. CEO Paul Jacobs highlighted the company's execution on its product roadmap, pointing to the recent launch of a two-way satellite IoT solution, and mentioned that the company's refocused product development team accelerated new releases using Globalstar's existing satellite infrastructure. These factors collectively influenced Globalstar's quarterly results. Looking forward, Globalstar's guidance is anchored in expectations for sustained demand across its IoT and terrestrial network platforms, along with anticipated contributions from newly launched products and partnerships. CEO Paul Jacobs stated, 'We're seeing this device ecosystem expand consistently with promising growth trajectories in our wholesale partnerships and our IoT and terrestrial network business lines.' Management views the upcoming commercial deployment of XCOM RAN and the progress on next-generation satellite constellations as key growth drivers. However, the team also noted potential headwinds related to the timing of large customer launches and global trade uncertainties. CFO Rebecca Clary explained that Globalstar has strategies in place to mitigate tariff impacts, suggesting any near-term effects should be minor. The company expects continued operational investments and new executive hires to further strengthen its go-to-market capabilities. Management attributed the quarter's results to growing wholesale capacity services, ongoing investments in terrestrial network technology, and the successful launch of new IoT solutions. Wholesale capacity momentum: The company saw continued demand from wholesale customers, especially for capacity services linked to its satellite network, which was a significant contributor to service revenue growth this quarter. Commercial IoT adoption: Average subscriber numbers and engagement levels rose for Globalstar's commercial IoT devices, reflecting customer interest in new two-way satellite solutions that support applications like fleet tracking and precision agriculture. XCOM RAN development costs: Upfront investments in the XCOM RAN product, a terrestrial wireless network solution, increased expenses and modestly weighed on margins. Management views these costs as necessary for long-term profitability in this segment. Leadership and operational upgrades: Two experienced executives joined the management team to lead the terrestrial network and wholesale consumer businesses, aiming to accelerate market expansion. Additionally, the opening of a new satellite operations center in Louisiana is expected to enhance fleet management and network performance. Tariff mitigation strategies: Management outlined flexible manufacturing and global supply chain approaches to limit the impact of evolving trade tariffs, with the ability to shift production and pass through some costs to customers if needed. Globalstar's outlook centers on expanding IoT and terrestrial network offerings, commercializing new technology, and managing external risks such as customer launch timing and tariff changes. IoT and terrestrial network growth: The company expects increased adoption of its new two-way satellite IoT solution and the upcoming commercial deployment of XCOM RAN to drive future revenue, especially as use cases in sectors like logistics and agriculture expand. Satellite constellation investments: Significant capital is being allocated to next-generation satellite launches, with contracts in place for both near-term replacement satellites and a larger, extended constellation. Management believes these investments will underpin service growth and long-term customer contracts. External headwinds and mitigation: While management anticipates minimal near-term financial impact from tariffs due to flexible supply chain arrangements, they acknowledge that the timing of large partner launches and the broader trade environment remain risks that could influence revenue and profitability. In the coming quarters, the StockStory team will be monitoring (1) the commercial rollout and customer adoption of XCOM RAN, (2) progress on the next-generation satellite constellation launches and associated service milestones, and (3) the pace of new IoT device deployments and subscriber growth. Execution on mitigating external risks, including tariffs and customer launch schedules, will also be important to track. Globalstar currently trades at a forward EV-to-EBITDA ratio of 25.8×. At this valuation, is it a buy or sell post earnings? Find out in our full research report (it's free). The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
India.com
23-05-2025
- Business
- India.com
Bad news for Ratan Tata's Tata Group as Tata Play loses Rs 5100000000 due to...
(File) In a major setback for Tata Group-owned Tata Play, the direct-to-home (DTH) television service has suffered a consolidated net loss of Rs 510 crore in 2024-25, a 44 percent increase from previous year's Rs 354 crore, primarily due to its dwindling subscriber base amid mounting competition from rival DTH service providers and the surge in popularity of OTT platforms. Tata Play is jointly owned by Tata Sons– the holding company of the Tata Group– which owns a 70 percent controlling stake in the DTH service, and Walt Disney, that has a 30 percent holding. According to a report by The Economic Times, Tata Play also registered a 5.46% decline in total revenue to Rs 4,082 crore from Rs 4,305 crore. As per Crisil ratings, Tata Play's loss in revenue is attributed to a dwindling subscriber base, which has shrunk to 18 million from its peak of 23 million, amid stiff competition from government-owned Prasar Bharti's DD Free Dish, and surging popularity of OTT platforms. Crisil Ratings has predicted that Tata Play's revenue is expected to remain flat in 2025-26, following the decline in the previous fiscal. In 2022-23, Tata Play had reduced its total debt to Rs 3,262 crore from Rs 3,679 crore in 2021-22, but it temporarily surged to Rs 4,074 crore in 2023- 24, primarily owing to a Rs 1,200 crore increase in lease liabilities linked to new GSAT satellite transponders, according to the ET report. Tata Play began transmission via the the GSAT-24 satellite in 2024, enabling the DTH service to carry nearly 50% more channels. Earlier, Tata Play was in discussion for merger with telecom giant Bharti Airtel's DTH arm, Bharti Telemedia, but the talks fell apart, reportedly due to the lack of a 'satisfactory resolution'. According to Crisil Ratings, despite declining revenues, Tata Play's broadband business and its OTT platform, Tata Play Binge, is likely to partially offset the impact of the revenue loss. In 2024, Tata Sons acquire an additional 10% stake in Tata Play from Temasek for $100 million at a market valuation of $1 billion, significantly lower than its peak $3 billion valuation before the Covid-19 pandemic.
