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EchoStar (SATS) Ties Up to Offer Broadband Services in India

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Hughes Communications India Pvt. Ltd. (“HCIPL”), a majority-owned subsidiary of Hughes Network Systems and Bharti Airtel, a leading communications solution provider in India, have formed a joint venture to provide satellite broadband services in India.

HCIPL is the largest satellite service operator in India offering a wide range of broadband networking technologies and solutions for business and government customers. It is well-positioned amid the changing regulatory environment to serve the emerging connectivity requirements of customers with an enhanced product portfolio.

Headquartered in Englewood, CO, EchoStar Corporation SATS is a premier global provider of satellite communication solutions. It is a pioneer in secure communications technologies through its Hughes Network Systems and EchoStar Satellite Services business segments. Headquartered in Germantown, MD, Hughes is owned by EchoStar.

EchoStar’s shares have gained 24.3% in the past year compared with the industry’s growth of 11.2%.

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Operating as HCIPL, the entity combines the Very Small Aperture Terminal (VSAT) businesses of both companies to offer scalable enterprise networking solutions utilizing satellite connectivity for primary transport, back-up and hybrid implementation.

Announced in May 2019, the agreement has received all statutory approvals, including those from the National Company Law Tribunal (“NCLT”) and the Department of Telecom, Government of India.

With the combined capabilities of Hughes and Airtel, customers will have access to next-generation satellite connectivity backed by enterprise-grade security. HCIPL has a combined base of more than 200,000 VSATs. EchoStar continues to manage all areas of the business prudently.

SATS currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Aviat Networks, Inc. AVNW is a better-ranked stock in the broader Zacks Computer and Technology sector that carries a Zacks Rank #2 (Buy). The Zacks Consensus Estimate for its current-year earnings has been revised upward by 0.8% over the past 60 days.

Aviat Networks has a trailing four-quarter earnings surprise of 32.1%, on average. It has soared 91.9% in the past year.

Qualcomm, Inc. QCOM, carrying a Zacks Rank #2, is another solid pick for investors. The consensus estimate for current-year earnings has been revised upward by 1.4% over the past 60 days.

Qualcomm has a trailing four-quarter earnings surprise of 11.2%, on average. It has appreciated 23.8% in the past year.

Sierra Wireless, Inc. SWIR carries a Zacks Rank #2. The consensus mark for current-year earnings has been revised upward by 20.5% over the past 60 days.

Sierra Wireless pulled off a trailing four-quarter earnings surprise of 34.2%, on average. The stock has returned 15.9% in the past year.


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