Indian telecom giant Bharti Airtel has now become India's biggest music company, overtaking the industry leader Saregama, on the back of its music-related value-added mobile services, a top executive has said.
Opposition parties in India's Rajya Sabha, including the Congress and the TMC, walked out of the chamber after their demand for a discussion on the Election Commission's alleged lapses in issuing duplicate voter ID cards and delimitation was disallowed. The Deputy Chairman, Harivansh, rejected the notices under Rule 267, citing non-compliance with previous rulings. While TMC and Congress MPs focused on the duplicate voter ID issue, Tamil parties expressed concerns about the impact of delimitation on southern states. Despite raising slogans and pressing for a discussion, the opposition staged a walkout after their notices were rejected and their statements deemed not part of the official record.
Bharti Airtel Ltd on Thursday said it is still in talks with South Africa's MTN over a deal which could see a merger of the two telecom giants with a combined revenue of $20 billion. The two companies would be in exclusive talks till July 31.
Bharti Airtel Ltd on Thursday said it is still in talks with South Africa's MTN over a deal which could see a merger of the two telecom giants with a combined revenue of $20 billion.
Nilanjan Roy spent 13 years with Bharti Airtel, prior to which he worked for 15 years with Unilever across their global operations.
Among the 30 Sensex firms, Adani Ports and Power Grid climbed over 3 per cent each. Tata Steel, JSW Steel, Infosys, Mahindra & Mahindra, Maruti, and Larsen & Toubro were the other big gainers. IndusInd Bank, Bharti Airtel, Hindustan Unilever, Tech Mahindra and Titan were the laggards.
The move is aimed at enhancing its focus on expanding operations in international markets beyond India and South Asia and to further consolidate its leadership position in India, the company said.
The two dominant segments in the next 100 million are the youth and those living in rural areas, says Sanjay Kapoor.
Bharti Airtel, India's leading private telecom service provider, is keen to acquire a player similar in size to South African giant MTN in the emerging markets to become a global brand, said Akhil Gupta, deputy group CEO and managing director of Bharti Enterprises.
Bharti Airtel, India's leading private telecom service provider, is keen to acquire a player similar in size to South African giant MTN in the emerging markets to become a global brand, said Akhil Gupta, deputy group CEO and managing director of Bharti Enterprises.
All sectoral indices ended lower. BSE Telecommunication tanked 2.18 per cent, metal (1.77 per cent), auto (1.70 per cent), energy (1.64 per cent), oil & gas (1.59 per cent), commodities (1.39 per cent) and financial services (1.37 per cent) were the major laggards.
RBI's exercise will take into account standards of governance, the viability of the payment bank (PB) business model, and changes, if any, if needed.
Bharti Airtel Chairman and Managing Director Sunil Bharti Mittal, Vodafone Plc CEO Vittorio Colao, Telenor CEO Jon Fredrik Baksaas and Idea Cellular Chairman Kumar Mangalam Birla on Wednesday met ministers and senior government officials to present the industry's concerns over telecom regulator Trai's proposals on the auction of spectrum.
Stock market investors became poorer by Rs 8.30 lakh crore as equities continued their slide for the sixth consecutive day on Friday. The BSE Sensex has tumbled 1,855.58 points or 3 per cent since February 16. During this period, the combined market capitalisation of BSE-listed firms has tanked Rs 8,30,322.61 crore to reach Rs 2,60,00,662.99 crore. "The domestic market is broadly demonstrating a lack of confidence, registering its sixth consecutive day of losses despite global markets turning green.
Sunil Mittal-led Bharti Airtel acquired the African business of Kuwait-based Zain in a $10.7-billion deal, which was completed in June.
Triggering a tariff war, Idea Cellular on Thursday slashed data charges by 90 per cent in eight circles, following Bharti Airtel and Vodafone, who recently cut their rates by similar margins in select circles.
However, in the last few sessions, the stock of Mukesh Ambani-controlled Reliance Industries Limited (RIL), hit its 52-week low level of Rs 2269.75, and has been one of the worst performers among the Sensex pack thus far in calendar year 2023 (CY23). Thus far in CY23, RIL has tanked nearly 11 per cent as compared to a fall of around 5 per cent in the S&P BSE Sensex. The fall in the stock, according to Gaurang Shah, senior vice-president at Geojit Financial Services is mostly due to the overall dip in the market sentiment, which in turn has impacted large-caps, including RIL.
With the new entity coming in force, Bharti Airtel will lose the tag of India's biggest telecom service provider to the new entity.
While the government has not barred procurement of equipment from Chinese companies, the process to amend the general financial rules (GFR) 2017 has started. This will impose restrictions on bidders in public procurement from countries that share a land border with India, reports Megha Manchanda.
Bharti Airtel is the largest mobile phone operator in the country.
In April 2013, CBI had first told the Court there were "some difficulties" in the probe after it went abroad.
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Reliance, Birla Group, Airtel eye small finance banks.
Payments banks will mainly deal in remittance services and accept deposits of up to Rs 1 lakh.
While such buying could indicate confidence in the business, investors should do a comprehensive evaluation before getting into the stock.
The Department of Post, Tech Mahindra, Videocon Group and stock exchange NSE have joined big corporates like Ambanis and Birlas to seek entry into banking business through newly created niche category of Payments and Small Finance Banks.
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
In the broader markets, the BSE Midcap and Smallcap indices extended gains and were up over 1% each
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore (Rs 110 billion) received in 2013.
Non-resident individuals (NRIs) have also been allowed to apply for the niche banking licence, provided they plan to return to India.
'To all the MBAs that burn the candle at both ends, travel half-a-million miles every year, and spend little or no quality time with their families, the rise to riches of Mr Bikhchandani and Mr Banga, should be true inspiration,' notes Sandeep Goyal.
Polling was held on Sunday for 59 Lok Sabha seats in the sixth and penultimate phase of Lok Sabha polls. Elections are being held in 14 seats in Uttar Pradesh, 10 seats in Haryana, eights constituencies each in Bihar, Madhya Pradesh and West Bengal, seven seats in Delhi and four in Jharkhand. Take a look at the famous faces who exercised their democratic right.
Seeing Indrani in court with her perpetually sunny demeanour and beaming face is sometimes as unreal an experience as making sense of court delays.
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