Yes Bank gained the most, spurting 5.94 per cent. Bajaj Finance, Hero MotoCorp, TCS, HUL, Bajaj Auto, HCL Tech, Infosys, SBI, M&M, ICICI Bank and Tata Motors rose up to 1.65 per cent.
The Cellular Operators Association of India (COAI) has bluntly told the government there is no reason for its members to roll out 5G networks as they will be unviable if 'captive private wireless networks' are allowed to be run by enterprises. The COAI, which has Bharti Airtel, Reliance Jio and Vodafone Idea as its key members, has written to Communications Minister Ashwini Vaishnaw saying there is 'no business case for the roll out of 5G networks'. Permitting such captive networks will 'diminish the revenue so much that there will be no viable business case left for the telecom service providers and there will not remain any need for 5G network roll out by telecom service providers (TSPs)'.
Cellular operators' body COAI had, last year, alleged that the new entrant Reliance Jio was attempting to acquire customers by offering connection loaded with freebies, in the guise of a trial launch.
In the Sensex pack, Vedanta took the biggest hit (5.55 per cent), followed by Tata Motors, SBI, Yes Bank, Bharti Airtel and Infosys, which lost up to 4.50 per cent.
ICICI Bank was the top laggard in the Sensex pack, sinking over 10 per cent, followed by Bajaj Finance, HDFC, IndusInd Bank, Axis Bank and Maruti. Bharti Airtel and Sun Pharma were the gainers in the BSE index. NSE Nifty suffered a heavy loss of 566.40 points, or 5.74 per cent, to settle at 9,293.50.
The auction is the biggest ever sale of 2G and 3G airwaves.
Joining the price war with Reliance and AirTel in the pre-paid segment, Hutch on Thursday introduced lowest local call rates of 99 paise to any other mobile but slapped a fixed charge of Rs 25 per month.
"Starting December 4, 2016, every new Jio user will get Jio's data, voice, video and the full bouquet of Jio applications absolutely free till March 31, 2017," Mukesh Ambani said, adding that the 'Jio Happy New Year Offer' will also be extended to existing customers on current SIMs.
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SBI will hold 30 per cent in RIL joint venture
Airtel has pitched for a hike in mobile and data tariffs.
Bharti Airtel, Vodafone, Reliance Communication and other GSM telephone operators owe government over Rs 451 crore (Rs 4.51 billion) in license fee and spectrum charges, the Rajya Sabha was informed on Thursday.
Bharti Airtel on Thursday submitted its bid for 3G spectrum, auction for which starts from April 9.
The move will help telcos, including Reliance Jio, Vodafone, and Idea Cellular
Internet.org is a Facebook-led initiative
Apex telecom industry body COAI has asserted that spectrum pricing should be kept conducive to market conditions as 5G entails upfront capital investments with monetisation spread over a long-haul, and pricing radiowaves high will only push the players up against the wall. The stage is set for Telecom Regulatory Authority of India (TRAI) to come out with its recommendations on 5G spectrum pricing and other modalities for upcoming auctions, and the announcement from the sector watchdog is expected anytime now. Norms will also be worked out for new frequencies such as 526-698 MHz and millimetre band, that is 24.25 - 28.5 GHz, in addition to bands such as 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300-3670 MHz.
DoT though failed to implement TRAI's recommendations to levy spectrum usage charge
The new offer is part of its strategy to turn India to an exclusively 4G market.
Milk booths by Amul and Mother Dairy, a Kumbh phone by Reliance Jio, Dabur's toothpaste dispensers are among the many initiatives by brands steadying for a stint on haloed ground.
Telcos may hike mobile rates to recover spectrum cost: Moody's
Airtel, Vodafone-Essar favour delinking; Reliance, Tata oppose.
Jio's adjusted gross revenue share went up by 7 percentage points in Q2FY18-19 over the previous quarter in the circles of the C category.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The latest deal would give Facebook deeper access to India, the second largest internet market after China.
The launch of services by Jio in September 2016 had disrupted the whole telecom sector, with operators matching low rates to maintain competitive edge
The Indian market is more in sync with mobile markets of advanced countries like the UK, Japan, and South Korea, where there are fewer players - three to four.
TCS heads top-10 ranking despite being sole loser; RIL, ITC take second & third place respectively
Investors turned cautious weighing weak GDP numbers and continued drop in automobile sales, bringing banking and auto sector stocks under pressure.
The company added 95 lakh new 4G subscribers taking its total 4G subscriber base to 7.53 crore inching closer to its peer Bharti Airtel which reported 4G customer base of 7.7 crore.
Yes Bank was the biggest gainer in the Sensex pack, rallying 4.06 per cent. Other gainers were Coal India, Infosys, PowerGrid, Vedanta, Reliance, TCS, HUL, ONGC, HCL Tech, IndusInd Bank, HDFC Bank and Asian Paints, gaining up to 2.72 per cent.
Reliance Communications has accused "old 2G operators" of causing over Rs 1 lakh crore (Rs 1 trillion) in losses to the exchequer through "fraudulent means".
Intensifying 3G tariff war, Reliance Communications (RCom) on Friday announced up to 61 per cent cut in rates, following similar reduction by Airtel and Idea.
In order to determine whether this would be sound strategy for them, one needs to look at two issues: One, on the alliances being built globally between telcos, on one hand, and cloud service firms, on the other, especially with the advent of 5G; and two, how their business strategies in India will blend into with such a deal.
During a hearing before the Monopolies and Restrictive Trade Practices Commission (MRTPC) last month Bharti Airtel, Vodafone Essar, Reliance Communications, Tata Teleservices, and government-run BSNL and MTNL agreed to submit the undertaking.
The Jio-Bharti battle will not just be limited to mobile telephony but will extend to the fibre to home space too.
Ambani said Jio will offer the world's lowest data tariff
Yes Bank was the biggest gainer in the Sensex pack, soaring 6.04 per cent, followed by IndusInd Bank, Tata Steel, HeroMotoCorp, Sun Pharma, Bajaj Auto, Power Grid, Tata Motors, SBI and Kotak Bank that gained up to 5.32 per cent.
Market participants are wary of wild swings expected in stocks on May 16 - the poll results day, and therefore refraining from taking leveraged bets now, say analysts
Jio to charge users 6 paisa/min for voice calls made to rival phone networks. However, these charges are not applicable on calls made by Jio users to other Jio phones and to landline phones and calls made using WhatsApp, FaceTime and other such platforms.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
HCL Tech was the top gainer in the Sensex pack, rising over 4 per cent, followed by HDFC Bank, Infosys, NTPC, Nestle India, TCS and HUL. NSE Nifty surged 337.80 points to 14,845.10.
