The deal follows Facebook picking up a 9.99 per cent stake in the firm that houses India's youngest but largest telecom firm on April 22 for Rs 43,574 crore. Within days of that deal, Silver Lake -- the world's largest tech investor -- bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore. On May 8, US-based Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for Rs 11,367 crore.
The incumbent operators faced the onslaught of free offers and cheaper rates from Jio.
Airtel and Vodafone Idea are also trying to expand the penetration of 4G users in their subscriber base as they take this network to the hinterland
While the company insisted it had enough spectrum across circles, analysts said the company might soon need to acquire some spectrum to ensure uninterrupted service.
The Adani family, led by Chairman Gautam Adani, is the most valued first-generation family business at Rs 15.44 trillion.
Airtel Xstream will allow its subscribers to access live TV, video, music, news and sports on an over-the-top smart stick, interned-enabled set top box, and handheld devices.
While existing players are expected to first drop prices, acquisition of smaller firms by larger ones is likely in future
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 12 per cent rise in December quarter net profit on improving oil-to-chemical business, strong continued momentum in retail and steady telecom unit Jio.
The 4G service may use Reliance Retail, with a surging customer base, as the launch pad
Billionaire Mukesh Ambani's Reliance Industries and Tata Group have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list.
Jio is planning to win over 350 million 2G feature phone users by launching a smartphone at a fraction of the current cost.
Telecom operators Bharti Airtel, Reliance Jio and Vodafone Idea on Tuesday submitted applications to participate in the Rs 3.92 lakh crore spectrum auction scheduled to start from March 1, according to official sources. This round of auction will be held for 2,251.25 Megahertz (MHz) in seven frequency bands -- 700 Mhz, 800 Mhz, 900 Mhz, 1800 Mhz 2100 Mhz, 2300 Mhz and 2500 Mhz -- at a cumulative base price of Rs 3.92 lakh crore. "Bharti Airtel, Reliance Jio and Vodafone Idea have submitted applications (for the spectrum auction)," an official source told PTI.
Over the three-month period, Airtel's stock price has rallied from Rs 432 to Rs 540, while Vodafone Idea has risen from Rs 9.2 to Rs 11.8 per share.
Stock exchanges are expanding the buffet of index derivatives even as the number of stocks permitted to trade in this space, generating an average daily turnover of Rs 450 trillion, is shrinking. This week, the National Stock Exchange (NSE) started issuing futures and options (F&O) contracts based on the Nifty Next 50 Index, bringing the total count of index derivatives to five.
BSNL offers 2GB data per day, unlimited calling for Rs 339
At Rs 2,999, LYF Flame is one of the most affordable VoLTE smartphone in the market now.
Its plans, to cut tariffs by 40% or offer more data, comes bundled with 1 GB high speed data for 28 days with unlimited voice thrown in.
Consolidated earnings for oil-to-telecom conglomerate Reliance Industries (RIL) may report sequential weakness, and modest year-on-year (Y-o-Y) growth in the June 2024 quarter (Q1FY25), said analysts. Lower refining margins are expected to moderate gains made from other businesses. RIL is slated to report its financial performance for Q1FY25 on July 19.
Jio is in a neck and neck battle with Airtel, which added a similar number of subscribers as Jio in the 15 months from February 2017 to April 2018
Total wireless subscribers increased from 1.1 billion, in January to 1.2 billion in February, thereby registering a monthly growth rate of 0.72 per cent.
Cricketer Virat Kohli has reclaimed the top position in brand value, now reaching $227.9 million, surpassing Bollywood star Ranveer Singh, who holds the second spot with $203.1 million, according to Kroll's 'Celebrity Brand Valuation Report 2023: Brands, Business, Bollywood'. The report ranks India's most influential celebrity brands by assessing their brand values derived from endorsements and social media presence.
bp had last year bought 49 per cent stake in the 1,400-odd petrol pumps and 31 aviation turbine fuel stations owned by RIL for $1 billion.
Competitive price will face stiff challenge from incumbents such as DD Free Dish
Shareholders of industry giants Adani Enterprises, Reliance Industries, and Tata Motors - the latter two are part of the Sensex - will decide on combined related-party transactions of more than Rs 2.68 trillion proposed for this financial year and later. Related-party transactions for BSE 500 companies touched at least a six-year high of Rs 42.1 trillion in FY23, the Capitaline data shows. The Rs 42.1 trillion includes related-party transactions both at balance-sheet and profit-and-loss levels.
Qualcomm launched its new affordable, India-designed chipset, the Snapdragon 4s Gen 2, on Tuesday. This chipset will enable mobile device makers to sell 5G smartphones operating on a standalone (SA) network for Rs 8,300 or less.
Bharti Airtel is rolling out last-mile connectivity with a target of reaching over 20 mn addressable households in 90-100 cities in the next 3 years
Paytm operator One97 Communications Ltd on Wednesday said it is not in talks to sell a stake to the Adani Group. Adani group has also termed such reports as "false and untrue." Commenting on a report that billionaire Gautam Adani was in talks with Paytm CEO Vijay Shekhar Sharma for a possible stake buy, One97 Communications said, the "news item is speculative and the company is not engaged in any discussions in this regard."
Jio says it has completed mobile number portability testing and is certified MNP-compliant
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
Jio's revenue increase was phenomenal in many circles: In Haryana, the RMS gain was 13 percentage points; in Bihar, 20 percentage points; in Odisha, 15 percentage points; and in Assam, 11 percentage points. However, incumbent telcos said this increase was only in three quarters, and it happened because of an order by the Telecom Regulatory Authority of India, which tweaked the definition of significant market player (SMP) for predatory pricing.
Trai had asked the Attorney General for views on Jio's free voice and data offering till March 2017, that rivals have termed predatory.
Pricing is a vital part of strategy to take high speed broadband to 265 million homes
Globally China, Japan, Russia and South Korea and the US are the top FTTH markets.
Sources say the Mark Zuckerberg-led company wants to ensure there are no issues in its investment in the subsidiary of Reliance Industries and has roped in one of the Big Four consultancy firms to advise it on how the new "beneficial ownership" norms would apply to the proposed investment in Jio.
Neeraj exhibited the basics of throwing a javelin to former Indian cricketer Dinesh Karthik on JioCinema's 'Get Set Gold'
Analysts cautious on outlook, expect earnings to remain under pressure over medium term.
Revenues of Airtel and Idea have been hit by falling realisation and analysts said margins would be affected by higher costs.
The regulator on Thursday asked the Mukesh Ambani-led Reliance Jio to withdraw the three-month 'complimentary' offer of unlimited data usage and free calls on payment of a minimum Rs 303.
Interrupting a two-month streak of decline, outward foreign direct investment (FDI) rose sequentially to $1.85 billion in July over $1.07 billion in June, an increase of 73 per cent. However, it was lower than the $2.18 billion in July last year, according to the Reserve Bank of India data. Outbound FDI, expressed as financial commitment, has three components - equity, loans, and guarantees.
The number of telephone subscribers in India increased from 1,183.15 million at the end of May to 1,186.63 million at the end of June.
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