Month-end dollar demand from importers resulted in the rupee touching a new all-time low on Wednesday against the dollar.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Telecom major Jio will start the beta trial of 5G services in four cities of Delhi, Mumbai, Kolkata and Varanasi from October 5 with a select set of customers, the company said on Tuesday. The company will send invites to customers under 'Jio True 5G Welcome Offer' to try its 5G services and the subscribers will get Unlimited 5G data with up to 1 gigabit per second speed. "Post the successful demonstration of its True-5G services at the India Mobile Congress 2022, Jio is announcing the Beta trial of its True-5G services on the auspicious occasion of Dussehra, for Jio users in four cities - Mumbai, Delhi, Kolkata, and Varanasi," Jio said in the statement.
The users of 5G-enabled Apple iPhones will be able to try 5G telecom services - wherever available publicly in the country - from next week, both on standalone (Reliance Jio) and non-standalone networks (Bharti Airtel). Airtel and Jio customers who download the iOS 16 Beta software update as part of its 'Apple Beta Software Program' can try the service and send their feedback to the company. The final updated software will become available sometime in December.
Bharti Teletech, India's largest fixed line phone manufacturer and flagship of the AirTel Group, on Friday announced its entry into digital set top boxes used for the direct-to-home services with an initial investment of $2 million.
Investors have turned cautious ahead of the policy meetings of central banks in Japan and the US
Vodafone Plc and its ex-shareholders have suffered due to the delay in an Initial Public Offer (IPO) of its Indian unit.
From the 30-share pack, Indusind Bank, Axis Bank, Maruti Suzuki, Bajaj Finance, Bajaj Finserv, UltraTech Cement and Mahindra & Mahindra were the biggest drags, tumbling up to 7.63 per cent.
The reported buyback of Temasek's 20 per cent stake in Tata Play by Tata Sons will be the third instance of Tata Group providing an exit to a foreign partner in recent years. In 2018, Tata Sons paid $1.27 billion to DoCoMo to buy back 26 per cent of the group's telecommunication venture, Tata Teleservices. This was followed by Tata Sons acquiring AirAsia Berhad's 49 per cent stake in AirAsia India in two tranches to make it a wholly owned subsidiary.
Prime Minister Narendra Modi on Saturday inaugurated the 6th India Mobile Congress at Pragati Maidan in Delhi and launched 5G services. The 5G telecom services seek to provide seamless coverage, high data rate, low latency and highly reliable communications system. The three major telecom operators of the country demonstrated one use case each in front of the prime minister to show the potential of 5G technology in India.
Two years ago, the number was 4,000, according to Indian businessmen.
Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.
Home minister heads several groups of ministers, including the one to decide the revival package for Bharat Sanchar Nigam and Mahanagar Telephone Nigam. His ministry also takes decisive calls on national security in relation to telecom operations as well as equipment and technology used in the industry.
Providing services like broadband connectivity, cable TV, enterprise solutions, and payment wallets is the need of the hour for telcos, and a second wave of consolidation is upon the industry, a rating agency said on Tuesday. India Ratings and Research said the sector, which was battered following the aggressive entry of Reliance Jio, will continue showing signs of recovery amid conducive regulatory environment and maintained a "stable" outlook for the industry in FY22. The second round of consolidation (Consolidation 2.0) is kicking-in in the industry, which will bring a transformation in the business models of telecom companies, leading to the evolution of incumbents from the providers of traditional voice-only services to complete digital solutions for households, it said.
Reliance Industries leads the pack of 56 Indian companies.
Starting with a family, which had a dealership of Bajaj Auto's scooters, to becoming the owner of a household name in consumer appliances who could afford to have Bollywood superstar Shah Rukh Khan as the brand ambassador, Venugopal Dhoot's is a story of an aggressive small town businessman's pursuit to be on the top. Now arrested in connection with the ICICI Bank loan fraud case, Venugopal Dhoot during his heydays was not the one to simply sit on small achievements like Videocon becoming the largest television set manufacturer in India.
Enquiries indicate it belongs to an industrialist with links to a prominent cricketer.
Broader gains were capped as investors awaited corporate results from major firms
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Telecom industry body COAI has approached the information technology ministry for removal of fake and misleading messages from social media platforms like Facebook, Whatsapp and Twitter linking spread of COVID-19 to 5G technology. The Cellular Operators Association of India (COAI), whose members include Reliance Jio, Bharti Airtel and Vodafone Idea, said the claims linking 5G with coronavirus are baseless as 5G networks have not yet been installed in the country and even 5G trials are yet to be started by the telecom operators. In a letter dated May 15 to MeitY additional secretary Rajendra Kumar, COAI director general S P Kochhar said: "To safeguard the national interest, we request your good office to kindly instruct all the social media platforms such as Facebook, Watsapp, Twitter, etc, to remove all such posts and misleading campaigns from their platforms on an urgent basis." People have been sharing audio and video messages on social media platforms in which 5G towers are being blamed for rise in casualties across the country even though none of the companies have installed 5G technology anywhere in India.
Investors are keenly awaiting the announcement of the macroeconomic data-IIP and CPI due on Tuesday.
The development marks a watershed moment in India's telecom history since fixed-line or landline connections formed the final segment where a State-owned operator was in the top spot.
Tata Group had hinted at combining its enterprise business with Tata Communications and its fixed-line and broadband businesses with Tata Sky.
The market could see a fresh round of tariff war, similar to what happened in the voice market a few years ago.
Reliance improved its ranking this year to 121 from 142 last year, with a market value of $50.6 billion and assets worth $91.5 billion.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
To help 2G customers who have to buy a new phone to upgrade to 4G, the company had earlier introduced 4G feature phones, to make it affordable for them to make the switch.
Companies have activated a comprehensive pandemic response plan with requisite risk mitigation protocols for keeping networks working as telecom is an essential service.
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
Asian Paints was the top gainer after the paints major posted robust first quarter earnings.
Investors brace up ahead of the key macrodata- IIP and CPI numbers due to be unveiled tomorrow.
While moving towards the new technology is compelling and inevitable, powering 5G would also mean massive initial investments for telcos, says Surajeet Das Gupta.
A user will need to buy a 4G-enabled handset and then upgrade his or her existing 2G/3G SIM card to a USIM (Universal SIM)/4G SIM.
Apple, which is seeing declining sales elsewhere in the world, is betting big on India for growth as sales here saw an impressive 56 per cent growth in the January-March 2016 quarter.
Laying fibre to home is a cumbersome and a slow process as every building has to be physically wired.
Prime Minister Narendra Modi's call to make this decade a "techade" for India and the push for 5G, semiconductors and transformation through digital services is going to boost the technology sector in the country, industry players said on Monday. Modi, in his speech on the 76th Independence Day, touched upon all-round development of technology in the country, from 5G to push for electronic chips, laying of optical fibre cable (OFC) network across villages and enablement of digital entrepreneurship in villages through Common Services Centres, making the present decade as "techade" for India. Homegrown mobile devices maker Lava International's Chairman and Managing Director Hari Om Rai said electronics and technology sectors create about $4 trillion of revenue.
ONGC was the top performer while private banking major ICICI Bank extended gains
After a five-day long visit, Apple CEO Tim Cook left India with a note that he can't wait to return to the country. The visit of Cook coincided with 25 years of the iPhone maker's presence in India. Cook arrived in India on Monday. The visit started with the launch of the first official Apple store in Mumbai on April 18 followed by a second in the national capital on April 20.
The move comes a few days after billionaire businessman Elon Musk tweeted that his Starlink internet services would be available in India as soon as it gets regulatory approvals next year. Musk's Starlink, which plans to have a constellation of 40,000 low-orbit satellites, recently started offering high-speed internet in the US as part of its beta launch phase.
Among other segments, home broadband subscriptions have picked up and the virtual private network service, too, increased by around 15 per cent.
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