Tata Group remained India's largest business conglomerate in market capitalisation in calendar year 2023 while the Mukesh Ambani camp raced ahead of the Adani businesses to become the second-largest. The Tata companies ended 2023 with a combined group market capitalisation of Rs 28.68 trillion, up 35 per cent from the Rs 21.2 trillion at the end of December 2022. Ambani's group mcap is Rs 19.42 trillion at the end of CY23, up 10.7 per cent from the Rs 17.6 trillion a year ago.
Internal discord within the INDIA bloc has led to alliance partners contesting against each other in at least eight assembly seats in Bihar. The Congress, RJD, and Left parties are facing challenges in seat-sharing arrangements for the upcoming elections.
India recognised acts of gallantry by armed forces personnel and senior military officers involved in Operation Sindoor, along with other distinguished service awards, on the eve of the 79th Independence Day.
With this, the Bharti group companies had enhanced their voting interest in Bharti Airtel to over 50 per cent, the company said in a statement.
The Bharti Group, promoted by the Mittal family, had searched high and low for a foreign partner when it wanted to start its cash
Bharti Group's retail venture in partnership with the world's biggest retailer Wal-Mart is going to be a low-key affair with its launch planned in phases over a period of time.
The company, according to industry sources, is hoping to get an FIPB approval before that. Market sources said the sales team has sounded out October 8 as the launch date. Government had earlier asked Bharti group to seek a separate FIPB approval within three months for its upcoming DTH services.
Sunil Bharti Mittal promoted Bharti group is planning to list in the US market to access capital and expand visibility overseas.
In what could give jitters to players like Nokia, Samsung and other such stables, Bharti on Sunday announced its entry into the fast-growing mobile handset business.
Telecom major Bharti Group Chairman and Managing Director Sunil Bharti Mittal denied any attempt on forming a cartel with other telecom players to distort competition. Bharti Airtel had received a 'notice of enquiry' by anti- monopoly watchdog MRTPC. Vodafone Essar and Idea Cellular too had received such notices. It was alleged that 3 GSM operators, by colluding, have simultaneously increased the price. Mittal said that MVNOs will not work in India due to existing tariffs.
Walmart's JV with Bharti hinges on policy clarity
Confirming the SOX compliance exercise, a senior Bharti group executive, however, denied that the company was considering a foreign listing.
US retail giant Wal-Mart, which has signed a joint venture with the Bharti Group for wholesale cash and carry business, will restrict itself to technical support and training in Sunil Mittal firm's foray into retail.
The Indian Air Force on Monday said all its military bases and systems continue to remain fully operational, and ready to undertake any further missions if the need arises.
Bharti will invest an additional $500 million (over Rs 3,700 crore) into OneWeb, to become the largest shareholder in the satellite communications company that billionaire Sunil Mittal-run Bharti Group along with the UK government had rescued from bankruptcy last year. The investment is a result of exercise of a 'call option' by Bharti. On completion of the transaction and with Eutelsat's $550 million investment, Bharti will hold 38.6 per cent. The UK government, Eutelsat and SoftBank will each own 19.3 per cent, OneWeb said in a statement.
Global retail giant Walmart has got fair trade regulator CCI's green signal for purchase of Bharti group's almost 50 per cent stake in their Indian joint venture for wholesale stores business.
Earlier this week Vodafone CEO Vittorio Colao had said, 'one day we will discuss (Vodafone and Bharti Group) what to do with the stake. To have a discussion on any issue we need to have both the partners.' In 2005, Vodafone had bought a 10 per cent stake in Bharti Tele-Ventures Ltd (BTVL) for Rs 6,700 crore (Rs 67 billion).
Sunil Mittal-controlled Bharti group on Monday said that it would not participate in the airport modernisation project at Delhi.\n
The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'.
Amid the ongoing controversy over outsourcing to India, Atlinks has entered into an alliance with Bharti Teletech as part of which the latter would manufacture fixed line phones for Atlinks for global exports.
Young investors with a higher risk appetite are better off with a combination of term insurance and equity funds.
We are also trying to bring in modern processes and technologies in the area of supply chain, logistics and cold chain that should ultimately benefit the entire retail ecosystem through better quality, and more choice at better prices, says Bharti.
Bharti group on Tuesday announced a whopping $13 billion investment for the next five years of which at least 70 per cent would go into expansion of domestic telecom operations
Telecom regulator TRAI has issued a show cause notice to Bharti Group, offering mobile services under AirTel brand, for violation of licence conditions by continuing a particular service inspite of the government's instruction to stop it.
Bharti Group said on Thursday that it will not dilute its share in its telecom arm Bharti Televentures even if the government raises the foreign direct investment limit in the sector.
In a major setback to Bharti Group which offers telecom services under AirTel brand, the Supreme Court has turned down its plea seeking refund of Rs 135 crore (Rs 1.35 billion) for surrendering five basic licences.
Sunil Mittal-promoted Bharti Group on Friday announced a net profit of Rs 619 crore (Rs 6.19 billion) during the 2003-04 fiscal as against a loss of Rs 134 crore (Rs 1.34 billion) in the previous fiscal.
This follows the show-cause notice that was issued to the company last month by the ministry of informaton and broadcasting and the response given by the company. According to highly placed sources, the letter of suspension of Bharti's DTH licence has been moved within the I&B ministry because it is not satisfied with the response sent by Bharti Telemedia.
From its lows this month, the stock of Bharti Airtel is up 14 per cent. The gains for the telco have come on the back of expectations that market share consolidation, tariff hike and lower capex should boost margins and profits. While the company is a key player in the Indian market, it also has a leadership position in major markets of Africa.
Airtel operates as Airtel-Vodafone in Jersey and Guernsey to offer Vodafone trademarks in the British Channel Islands.
Bharti Group on Monday offloaded 10 per cent of its stake in Bharti Telesoft to a group of investors led by Westbridge Capital for $13.5 million.
Following Reliance's move to offer roaming at no extra charge, Sunil Mittal owned Bharti Group on Friday announced new roaming charges without monthly rental of Rs 99 and incoming calls costing just Rs 1.99 per minute.
Tata Sons Ltd, the holding company of the $150 billion Tata group, may be forced to infuse fresh capital into its loss-making telecom arm, Tata Teleservices Ltd (TTSL). This is because TTSL has to pay Rs 19,256 crore adjusted gross revenue (AGR) along with other dues to the central government by March 2026.
Having sold 62 million equity shares last week in Sunil Mittal owned Bharti Group, Warburg Pincus has said that its investments in the Bharti company was one of most successful investment and expressed satisfaction about the deal.
The Bharti group, which has just acquired a majority stake in the Bangladeshi mobile operator Warid Telecom, is on the lookout to acquire government-owned telcos in developing markets like Africa which are up for divestment.
In a show-cause notice, the information and broadcasting ministry asked Bharti Telemedia to furnish explanation failing which the government could consider suspending the licence till such time the company obtains necessary approvals from FIPB and meet the eligibility conditions. A Bharti spokesperson said the company has complied to all licence conditions in its DTH venture and the same has been communicated to the government.
