In a major initiative, the Tatas on Tuesday announced a joint venture with the Star group for providing direct-to-home services in India, a venture that is estimated to involve an investment of over Rs 300 crore (Rs 3 billion).
Reliance, Bharti's response to Ahmedabad's space crunch.
Anil Ambani-controlled Reliance Communication Ventures Ltd, whose market cap has touched Rs 65,000 crore
Vodafone Idea, which reported a loss of Rs 6,439 crore in the December quarter, said it had received letters from the department of telecommunications (DoT) directing immediate payment of dues amounting to Rs 54,000 crores after the SC judgment. "The company is currently assessing the amount that it will be able to pay to DoT towards the dues calculated based on AGR, as interpreted by the Supreme Court in its order dated October 24, 2019. The company proposes to pay the amount so assessed in the next few days," it stated.
After Reliance Industries, Tata, Bharti and the AV Birla group, the Hero group is all set to enter the Indian retail sector.
Bonanza for customers in days of liberalisation.
Industry experts say that even after the Insat-4B launch, there would be a requirement of over 25 more transponders from new players as well as older players looking for expansion.
The Union Cabinet in its decision of November 24, which has since been put on hold, permitted 51 per cent FDI in the multi-brand retail, well above expectations of the Walmart and its Indian joint venture partner -- Bharti Group.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Homegrown chat application Hike messenger on Wednesday said it will offer free voice calls to its users over 2G, 3G and wi-fi services across the globe in over 200 countries.
Twenty years after India's insurance sector was opened up, unshackling the control of state-owned companies, as many as 50 private players have set up shop. Along with their foreign partners, private players have brought about a sea change in the product offering, distribution and underwriting processes, and services levels. Yet, India's insurance penetration needle has not moved much.
The move is likely to hit Bharti-Walmart, the 50:50 joint venture between the US' Walmart and Sunil Mittal-led Bharti Group that operates cash-and-carry outlets in India, the most.
India Inc's quarterly net profit reached a record high of Rs 1.64 trillion in the third quarter ended December 31, 2020, mainly due to gains from higher commodity prices and a big swing in banks' earnings. The combined net profit of 3,323 listed companies that have declared results so far was up 68.6 per cent year-on-year (YoY). In comparison, earnings were up six times (534 per cent) in the second quarter and 6.5 per cent in the corresponding period last year.
Although Walmart-Flipkart wholesale game-plan is to target about a $150 billion market out of a total pie of $700 billion in the country, the consolidation marks the end of the multi-brand dream of the American retail giant.
Analysts expect structural risks such as risk to voice revenues, steep correction in data realisations, capex spend and rise in churn and subsequent increase in costs to continue in the medium term
The chairman of the Essel Group says he has settled 91.2 per cent of the estimated Rs 11,000 crore debt on the group's books.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
RIL had earlier decided not to pursue the cash-and-carry model due to a number of reasons, including a growing unrest towards organised retail.
Airtel acquired African telecom operator Zain in 2010 for $10.7 billion.
It wants subscribers who are 'active' on its network.
Walmart is happy with its current partnership with Bharti.
The US-based retailer Walmart Stores Inc, which has a wholesale joint venture with Bharti Enterprises, said its immediate focus in India will be to scale up operations before aiming to be profitable in a medium to long term.
Selects Wipro, Collabera as vendors; total IT sourcing from India about $1 billion.
Rejecting the demand of global retailers like Walmart, the government on Wednesday said there is no plan to relax the mandatory 30 per cent local sourcing norms for foreign players in the multi-brand retail sector.
The country's largest mobile service provider Bharti Airtel is all set to overhaul its look and come forth in a new avatar. The re-designed logo would be launched for Indian as well as overseas operations to bring synergy among the company's business ventures.
Walmart had entered into a joint venture with Bharti Enterprises.
VIL pegs dues at Rs 21,533 cr, less than half of DoT estimate. During a meeting with Vodafone Group CEO Nick Read, Telecom Minister Ravi Shankar Prasad made it clear that the government is against a monopoly in the telecom sector, and wants Vodafone Idea to survive and remain invested in India.
If Vodafone Idea shuts, a bulk of the high-paying ARPU customers will move to Airtel as Reliance Jio does not have a comprehensive postpaid offering like it, and have aggressively preferred to play in the prepaid market. The bulk of Vodafone Idea customers use 2G phones and only a few of them use data. It will be easier for Airtel to woo these customers as they can shift seamlessly to its 2G network without changing handsets or even SIM cards,
A total of 41 companies had applied for the permit
Deciding to focus on the cash-and-carry segment in India, retail giant Wal-Mart plans to open 50 wholesale stores in the next four to five years to expand its footprint in the country.
Energy's exit is a cautionary tale for several foreign investors in India as close to 16 Gw of solar and wind power projects languish without any power purchase agreement, 24 Gw without transmission connectivity and around 2 Gw unilaterally cancelled by project developers.
ADA Enterprise, which has been floated by Anil Ambani to manage companies under his fold, on Monday announced the appointment of Debabrata Chowdhury as vice president, technology development.
The chain readies to expand its footprint as Bharti focuses on its retail venture.
Retailers have learnt the costly lesson that stores must be opened where they can get a regular loyal customer base, and not necessarily in prominent locations which create hype and footfalls but no commensurate purchases.
Walmart acquired Bharti's 50 per cent stake in the wholesale joint venture.
Protesters, including retail traders, wholesalers, hawkers and mathadi workers, mainly hailing from areas around Mumbai, started gathering for the protest, organised under the banner of Federation of Associations of Maharashtra, amid a heavy security cover.
Two years ago, the number was 4,000, according to Indian businessmen.
Billionaire Mukesh Ambani on Tuesday hinted at rolling out 5G telecom services in the second half of 2021 and said policy steps are needed to accelerate the early rollout of ultra-high-speed 5G services that are affordable and available everywhere. Ambani, whose four-year-old telecom venture Jio has captured the No.1 spot offering free voice calling and data at dirt-cheap rates, also pitched for developing hardware manufacturing in India, saying the nation cannot rely on imports in such a critical area. 5G is the 5th generation mobile network that enables connecting virtually everyone and everything together including machines, objects, and devices. India, he said, is today among the best digitally connected nations in the world.
