Facebook picked 9.99 per cent stake in Jio Platforms at an enterprise value of Rs 4.62 lakh crore.
Jio-BP, the fuels and mobility joint venture between Reliance Industries and UK's BP, on Thursday announced a partnership with BluSmart - India's first and largest all-electric ride-hailing platform - to set up a network of commercial large-scale EV charging stations. As part of the partnership, Jio-BP will set up these stations for passenger electric vehicles and fleets across the country, the company said in a statement. "Through this partnership, both companies will collaborate in planning, development and operation of EV charging infrastructure, at suitable locations across cities where BluSmart operates," it said.
India's largest telecom operator Reliance Jio gained over 79 lakh mobile users in March, comfortably surpassing the combined net adds by rivals Bharti Airtel and Vodafone Idea during the month, according to data released by TRAI on Friday. Bharti Airtel added 40.5 lakh wireless users, and interestingly Vodafone Idea gained 10.8 lakh customers during March (compared to the previous month). Reliance Jio added a staggering 79.18 lakh wireless subscribers in March, taking its customers base to about 42.29 crore.
JioFiber, India's first 100 per cent all-fiber broadband service, will start from 100 Mbps and go all the way up to 1 Gbps. This will propel India to top 5 broadband nations globally.
While only 78.15 per cent of Jio's total subscriber base was active, Airtel boasts of 98.14 per cent active customers.
JioMeet, which has already got the endorsement of top government officials and politicians, saw a huge surge in its ranking on Google Play, based on its downloads.
The big advantage that Jio is able to garner currently is its low cost of operations.
FB deal puts RIL on course to be debt-free next year; Reliance Retail biggest gainer from WhatsApp, JioMart arrangement.
Reliance Industries Ltd on Monday reported a 5 per cent fall in the net profit for the July-September quarter, as weak oil refining and petrochemical business hurt operational performance.
Sanju Samson influenced former IPL champions Rajasthan Royals' decision to opt for the maximum six retentions, head coach Rahul Dravid said on Monday.
Businessmen from all over the world attended Radhika Merchant and Anant Ambani's wedding at the Jio World Convention Centre, Bandra Kurla Complex, north west Mumbai, on Friday, July 12, 2024.
A record over Rs 1.5 lakh crore worth of 5G telecom spectrum was sold in a seven-day auction ending on Monday, which saw billionaire Mukesh Ambani's Jio emerging as the top bidder to consolidate its leadership position. Sources with direct knowledge of the matter said provisional data puts the total bids at Rs 150,173 crore. The mop-up from the 5G spectrum, capable of offering ultra-high speed mobile internet connectivity, is almost double at Rs 77,815 crore worth 4G airwaves sold last year and triple of Rs 50,968.37 crore garnered from a 3G auction in 2010.
While prevalent web conferencing apps have been charging fees for getting a large number of users in a session, Jio is neither charging any fee nor has put any time limit on the sessions at present.
After subdued earnings in the first half amid global headwinds, India Inc is taking a cautious approach on their capital expenditure (capex) for the second half of the financial year ending March 2025, according to management commentary. Minutes from the October monetary policy meeting show the Reserve Bank of India's (RBI's) optimism about private investments picking up.
The latest deal would give Facebook deeper access to India, the second largest internet market after China.
Bharti Airtel and Vodafone Idea will roll out revised mobile service tariffs increasing rates in the range of 10-24 per cent from the first week of July. Bharti Airtel announced a 10-21 per cent hike in prepaid and postpaid mobile tariffs from July 3, a day after larger rival Reliance Jio announced an increase in rates. Later in the day, loss-making telecom operator Vodafone Idea (Vi) also announced its plan to raise mobile tariffs by 11-24 per cent from July 4.
For last two months, much of the discussion, a large part of due diligence, agreement negotiations, etc, have happened remotely.
Reliance Industries Ltd, India's most valuable company, on Friday reported a 5 per cent drop in its June quarter net profit as lower fuel cracks and petrochemical margins outdid gains in telecom and retail businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit was at Rs 15,138 crore, or Rs 22.37 per share, in April-June -- the first quarter of the current 2023-24 fiscal year -- compared to Rs 16,011 crore, or Rs 23.66 a share, earnings a year back, according to a company's statement.
India's largest telecom operator Reliance Jio gained 17.6 lakh mobile subscribers in October 2021 while market rivals Bharti Airtel and Vodafone Idea lost a cumulative 14.5 lakh users during the month, according to the latest data released by TRAI on Monday. Bharti Airtel lost 4.89 lakh mobile users in October, while Vodafone Idea lost 9.64 lakh subscribers during the reported period. Reliance Jio's mobile subscriber base surged to 42.65 crore in October, as the telco added 17.61 lakh mobile users in the month, according to data by the Telecom Regulatory Authority of India (TRAI).
Global energy supermajor BP plc on Thursday said it is about to open its first 'Jio-bp' branded petrol pump in partnership with Reliance Industries near Mumbai.
The alliance combines capabilities of both the companies to offer a set of solutions comprising connectivity, computing, storage solutions, and other technology services and applications required by Indian businesses, and will span the broad Reliance Industries ecosystem, including its existing and new businesses.
Google CEO Sundar Pichai on Thursday said the company continues to engage closely with partner Jio on the initiative of building an affordable smartphone and that work is underway on the project. Last year, Google had picked up a 7.7 per cent stake in Jio Platforms for Rs 33,737 crore. It had also entered into a commercial agreement with Jio Platforms to jointly develop an entry-level, affordable smartphone.
Jio has been allocated spectrum in 28 gigahertz to run 5G trials.
Global supermajor BP Plc's exclusivity with Reliance Industries Ltd has ended but the energy giant will continue to pursue oil and gas as well as mobility ventures in India with the Mukesh Ambani firm owing to an unwritten strategic partnership, BP's outgoing India head Sashi Mukundan said. BP in 2011 spent $7.2 billion to acquire 30 per cent interest in 23 oil and gas blocks of Reliance. Eastern offshore KG-D6 block was the cornerstone of the deal that also provided for a 10-year exclusivity period which meant that BP would take up energy projects or investments in India only in partnership with Reliance.
The 2016 upstart, called Jio, dislodged rivals and has emerged as the nation's No. 4 carrier by offering call services free for life and data transmission at dirt cheap rates.
Reliance Jio has paid about Rs 10,700 crore to the telecom department towards outstanding amount for spectrum acquired in 2016 auction, sources said. The payment was made by Jio last week, sources added. With this, the company has made full payment with regard to spectrum bought in 2016 auction, and the outstandings now pertain to 2014, 2015 and 2021 auction.
Rinku Singh says a burning desire to give his parents a good life while wading through tough times paved the way for his inclusion into the Indian team.
The problem is simple: None of the incumbent players, including Vodafone Idea, has a similar offer to challenge Jio and ensure that its 2G customers do not migrate.
The new offer is part of its strategy to turn India to an exclusively 4G market.
Having missed most of the first three industrial revolutions, India has its chance to lead the fourth industrial revolution through a convergence of its IT prowess, ultra-high-speed internet connectivity and affordable smart devices, billionaire Mukesh Ambani said on Thursday. The richest Indian, who heads the nation's most valuable company Reliance Industries, said his group's telecom and digital unit Jio was conceived to provide the key ingredients needed to lead the fourth industrial revolution.
The latest telecom war kicked off after some pictures surfaced, showing Airtel banners among agitating farmers. According to the Jio camp, it was a giveaway that farmers were being enticed to port their phone numbers.
Used smartphones are gaining popularity in the hinterland, the main market for JioPhone. Share of JioPhone in the feature phone market had shrunk from 47% in Q2 of 2018 to 28% a year after.
The Nifty 50 index is poised for a revamp as the revised futures and options (F&O) stock selection criteria is seen paving the way for newly listed companies to join the benchmark index, which is tracked by passive funds with combined assets under management of more than ~3.5 trillion ($44 billion). For the first time in six years, the market regulator Securities and Exchange Board of India (Sebi) has tweaked the stock selection process for the derivatives segment that clocks a turnover of ~400 trillion daily.
Reacting to the statement Jio said that the admission by Ookla reinforces Jio's submission that there is a clear contamination in primary data collected by Ookla in India, where nearly 90 per cent of smartphones are dual SIM devices
The top 10 films of the year may not be great by themselves but they stand out amidst the other OTT releases.
India's thriving mutual fund (MF) industry is drawing interest from several firms, with multiple applications submitted to the Securities and Exchange Board of India (Sebi) for asset management company (AMC) licences.
While JioMart is doing 250,000 orders per day, BigBasket and Amazon pantry are doing 220,000 and 150,000 orders, respectively.
Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
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