Six months after an infrastructure deal with brother Anil Ambani, Mukesh Ambani has now joined hands with Sunil Mittal.
Mukesh and Anil will announce two more infrastructure-sharing agreements by mid-June.
Chances are the logo would get even more colourful as its steps into new areas going forward.
In percentage terms, IndusInd Bank, SBI, HDFC, ICICI Bank and L&T were among the top losers. On the contrary, Bharti Airtel, Reliance, Sun Pharma, HCL Tech and Maruti Suzuki emerged as major gainers.
The words 'industry', 'industrial development', 'jobs', and 'employment' have been ringing with higher frequency since Mamata Banerjee stepped into her third term with landslide victory after a high-octane election last year. "Our government's next target is industrial development," the chief minister (CM) had been heard stating at different public meetings in the past few months - perhaps setting the tone for the sixth edition of the Bengal Global Business Summit (BGBS) slated for later this month. Investor summits by any state are about intent, big numbers, and tall claims. Yet in competitive federalism, its importance as a marketing tool is undeniable.
With this acquisition, Airtel will be second company, after Reliance Jio, in the country to have pan-India presence in 2300 Mhz band
If he bets big, billionaire Mukesh Ambani will emerge from this week's airwave auction armed with spectrum that could make his Reliance Industries Ltd a formidable rival to market leaders Bharti Airtel Ltd and Vodafone Group.
Reliance Jio accuses COAI of malafide intention.
The framework for new licences will be ready by end of this financial year.
An opportunity to enter a burgeoning sector at a low valuation and favourable policies are propelling some of India's largest corporate groups to scoop up drone start-ups. "Indian corporations lost the race in aerospace and space tech. "No one wants to miss the bus this time. "These are seasoned businessmen and they realise that the market cap of tech companies with problem-solving capabilities will exponentially rise in future," says Vipul Singh, CEO of Aarav Unmanned Systems (AUS).
According to a company statement, Ambani said he envisaged a new India in the not too distant future, where almost everything done digitally is transformed to a value-creating and life-enriching new experience cutting across all strata of society.
The DoT has issued long-awaited migration guidelines which pave way for Internet service providers (ISP) like Reliance Jio Infocomm and Tikona, that have BWA spectrum, to offer mobile telephony service by paying an extra fee of Rs 1,658.57 crore (Rs 16.58 billion).
Nearly half of the investments by various US-based investors have been made in Reliance subsidiary Jio.
The RIL-RCOM deal is an indication of telecom sector's future. As the mobile subscriber numbers plateau, telcos need to look at alternate stream of revenues, and data services will be the key to their growth.
A number of investment banks in their research reports on Wednesday hailed the deal, saying it was strategic in nature for both cash-rich RIL and debt-laden RCOM.
Battleground shifts to rural and small towns, where user base aspires to upgrade to smartphones.
The Cellular Operators Association of India said it would not take any legal step on the issue, unlike what it had said earlier.
Will Mukesh Ambani disrupt the telecom market by offering consumers voice calls at rock-bottom tariff?
Says, Jio unlikely to gain 2% revenue market share in 2017
Mumbai has fastest 4G speed, Ahmedabad most consistent, says wireless coverage mapping firm OpenSignal
Commercial services may start in Mar-Apr next year
Shares of the Anil Ambani-promoted firm ended 1.90 per cent higher at Rs 64.50 on the BSE. During the day, the stock had jumped 9 per cent to Rs 69.
Under the pact, Mukesh Ambani-led Reliance Industries' telecom arm will hire nationwide optical fibre network of Reliance Communications for rollout of 4G services.
Mukesh Ambani's Reliance Jio, however, continued to add wireless subscribers
Reliance Jio, together with partners, has tested its 5G solutions in India, successfully demonstrating speeds of over 1 GBPS, and its 'Made in India' solution is "globally competitive", RIL chairman Mukesh Ambani said on Thursday. Ambani also exuded confidence that the company will be the first to launch full-fledged 5G services in the country. Jio is not just working to make India '2G-mukt' (free from 2G) but also '5G-yukt' (5G empowered), he added. Jio's engineers have developed a 100 per cent home-grown and comprehensive 5G solution that is fully cloud native, software defined, and digitally managed.
Letter to telecom secretary alleges Jio is masquerading full-blown services in the guise of a trial; no word from Reliance.
Both the promoter groups - Vodafone and Aditya Birla - have confirmed their participation of up to Rs 11,000 crore and up to Rs 7,250 crore, respectively, in the issue.
Officials of Reliance Jio Infocomm claimed to have achieved broadband speeds on their networks that are 10-12 times faster than 3G services.
Around 1,200 protesters demanding scrapping of the amended citizenship act were detained on Thursday when they defied prohibitory orders imposed by the Delhi Police in Red Fort area. Internet, voice and messaging services by Airtel, Vodafone, Idea and Reliance Jio were suspended in parts of Delhi-NCR, in perhaps for the first time that the national capital experienced such restrictions.
Vodafone Idea on Wednesday said its board has approved availing the four-year spectrum payment moratorium being offered by the government as part of its relief package for the telecom sector. The other options offered in the Telecom Department's notification will be considered by the board of directors within the stipulated timeframe, it said in a regulatory filing. "...we wish to inform you that the Board of Directors of the company has approved the exercise of the option of deferment of the company's spectrum auction instalments for a period of 4 years (October 2021 to September 2025) in accordance with ...the notification dated 14 October 2021 issued by the Department of Telecommunications (DoT) to the company," it said.
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.
If the apex court decides on a 15-year repayment tenure, it would pose a grave challenge for the debt ridden VIL.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said in a statement. Net profit, however, fell 12.6 per cent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.
Total revenue dropped by 10.5 per cent to Rs 19,634 crore in the fourth quarter of 2017-18
Reliance Jio had proposed that besides satellite connectivity, In-Flight Connectivity can be provided using cellular network as well.
The government will set up a centre of excellence for visual effects and gaming with help from the Indian Institute of Technology-Bombay.
RIL has been talking to groups including Gionee, Huawei and Xiaomi
Mukesh Ambani-led company will squeeze market shares and margins of existing players
Just to promote govt's policy of Make in India, BSNL said, it cannot afford to procure sub-standard equipment from inexperienced companies, not having proven technology. BSNL complained that when competitors were procuring world-class 4G equipment from experienced vendors, why should BSNL be compelled to procure locally.
