To be headed by Ajay Bhattacharya of Universal Service Obligation Fund of Telecom Ministry, the five-member panel has recently been asked to submit a set of guidelines to suggest ways to promote renewable energy options in the sector within the next three months.
This will be the first time BJP's prime ministerial candidate holds a discussion with IT, telecom czars.
Operators oppose levying of charges for additional spectrum with retrospective effect.
India's 140 million mobile subscribers make missed calls to convey a pre-agreed message.
The Joint Parliamentary Committee on the 2G spectrum scam on Wednesday began examining the telecom policy pursued during the National Democratic Alliance rule as it sought to know the quantum of losses incurred during that period and decided to summon the then Attorney General Soli Sorabjee in this connection.
India Inc's net profit as a percentage of the country's gross domestic product (GDP) is just shy of reaching 5 per cent, bolstered by strong earnings growth in the second quarter of 2023-24. Analysts interpret this as an indication that a corporate profit upcycle is in progress, with projections suggesting that this share could exceed 8 per cent within the next five years, driven by bullish earnings growth expectations. "We believe we are only halfway through a profit cycle, with the profit share in GDP rising from a low of 2 per cent in 2020 to about 5 per cent currently, and likely heading to 8 per cent in the coming four to five years. "This implies about 20 per cent compounding of earnings growth. "Underscoring this forecast is the start of a new private capex cycle, under-geared balance sheets, a healthy banking system, lower corporate tax rates, improving terms of trade, and structural consumption demand outlook albeit somewhat offset by likely consolidation in government deficit," said Ridham Desai, managing director, head of research, Morgan Stanley India in a note.
Kotak Mahindra Bank was the biggest loser from the Sensex pack, skidding 1.83 per cent, followed by Axis Bank, NTPC, Hindustan Unilever, ICICI Bank, Bharti Airtel, Reliance Industries, HCL Technologies, IndusInd Bank and Nestle. In contrast, Bajaj Finance, Bajaj Finserv, Tech Mahindra, Tata Consultancy Services, Titan, Infosys, HDFC Bank, HDFC and ITC were the gainers.
Narendra Modi is India's most successful prime minister and the greatest global leader of current generation, billionaire Mukesh Ambani said on Wednesday as he flaunted his group Reliance Industries' Gujarati heritage and its over USD 150 billion (Rs 12 lakh crore) investment in last 10 years.
The Big Two telecom companies have accelerated their moves towards this next-gen technology, though they have chosen very different routes to getting there.
Billionaire Mukesh Ambani's children -- Isha, Akash and Anant -- on Monday were appointed on the board of his energy-to-technology conglomerate Reliance Industries Ltd, in what is seen as a clear path of succession planning at India's most valuable company.
The high-powered panel, headed by Finance Minister P Chidambaram, which was to discuss the roadmap for auction of unsold GSM spectrum in Delhi, Mumbai, Rajasthan and Karnataka, has been deferred twice last month.
The Supreme Court has asked the CBI to place before it the "files and notings" which purportedly suggest that its Director Ranjit Sinha wants stopping of whole trial against Reliance Telecom Ltd (RTL) and three top executives of the Reliance ADAG, who are accused in the 2G spectrum scam case.
Analysts have given a thumbs up to the Reliance Industries (RIL) and Walt Disney Co. (Disney) proposed a joint venture (JV). The stock of the Mukesh Ambani-controlled company gained nearly 1.5 per cent on Thursday to Rs 2,952 levels as compared to the S&P BSE Sensex that traded marginally weak, down 0.2 per cent to 72,172 levels in intra-day trades.
Surprisingly, RIL scrip also fell by 2.73 per cent to 1,029.15, becoming the second biggest loser in the index
In a move indicative of a hardening of stand against the opposition Bharatiya Janata Party, the ruling Congress has decided to cock a snook against the BJP. Renu Mittal reports.
Jio Financial Services, a unit of Mukesh Ambani's Reliance Industries (RIL), got valued at Rs 1.66 trillion ($20 billion) following an hour-long special trading session conducted by stock exchanges on Thursday. Shares of RIL's unit got priced at Rs 261.85 apiece - higher than analysts' expectations of Rs 134-224 per share. The price was arrived at after calculating the difference between RIL's Wednesday (July 19) close of Rs 2,840 and Rs 2,580, the price discovered during the first-of-its-kind pre-trade session.
The Delhi Police, in a first information report (FIR) filed under anti-terror law Unlawful Activities (Prevention) Act (UAPA) following allegations against news portal NewsClick, has alleged that a large amount of funds came from China in order to disrupt India's sovereignty and cause disaffection against the country.
The empowered group of ministers has been reconstituted after Pranab Mukherjee, who was heading it, resigned as Finance Minister to contest the Presidential elections.
The broader Nifty of National Stock Exchange scaled the 10,200 mark intra day before closing at 10,184.85, showing a sizeable gain of 38.30 points, or 0.38 per cent.
Equity benchmark indices Sensex and Nifty buckled under selling pressure after a nine-session rally on Monday, as massive sell-off in IT, tech and telecom counters unnerved investors.
Swedish telecom equipment supplier Ericsson on Thursday appointed Mats Granryd as managing director of Ericsson India Pvt Ltd and head of market units for India and Sri Lanka.
The company would also increase its head count by over eight-fold to 10,000 in the next three years from the current 1,200.
A former chairman of TRAI on Friday told the JPC probing the 2G spectrum scam that the then NDA government did not seek the opinion of the telecom regulator on the issue of allocating "excess spectrum" to some private companies in 2002.
Expressing concern over frequent internet shutdown without any empirical study, a Parliamentary panel has pulled up the Department of Telecommunications for not maintaining the record of incidents and inaction on several of its recommendations. The Standing Committee on Communications and Information Technology on 'Suspension of Telecom Services and Internet and its impact' tabled in Lok Sabha on Thursday, the panel has asked the Department of Telecom (DoT) to lay down a clear cut principle of proportionality and procedure for lifting of shutdown in coordination with the home ministry to prevent any misuse of the suspension rules. The panel rejected the logic of the DoT and Ministry of Home Affairs (MHA) for not maintaining the record of the shutdown, saying it cannot simply take the plea that police and public order are essentially state subjects and suspension of the internet does not actually come under the ambit of crimes.
Home Minister P Chidambaram was on Friday appointed the head of the Empowered Group of Ministers on spectrum auction that was reconstituted after Agriculture Minister Sharad Pawar declined the job.
Titan, IndusInd Bank, Axis Bank, State Bank of India, Power Grid, NTPC and Tata Motors were among the among the major gainers. Mahindra & Mahindra, Larsen & Toubro, Nestle, JSW Steel, Infosys and Tata Consultancy Services, Tech Mahindra and Maruti were the major laggards.
Expressing concern over frequent internet shutdown without any empirical study, a parliamentary panel has pulled up the department of telecommunications for not maintaining the record of incidents and inaction on several of its recommendations.
The meeting of the EGoM, the first after Pranab Mukherjee resigned as the Finance Minister to contest Presidential election, was to decide on auction of telecom spectrum.
The company would also increase its head count by ten fold to 10,000 in the next three years from the current 1000.
The 'Pran Pratishtha' of the idol of Ram Lalla -- the childhood form of Lord Ram -- will be attended by people from all walks of life, including representatives of major spiritual and religious sects of the country and of various tribal communities and prominent personalities.
Radia, chairperson of Vaishnavi Corporate Communications and Tata, chairman of Tata sons Limited, have been asked by the PAC to appear before it on April 5 at 11 AM and 3 PM respectively to give 'oral evidence' on the subject 'recent developments in the telecom sector including allocation of 2G and 3G spectrum'.
More and more women are making their presence felt in jobs related to sciences, technology, and engineering across organisations.
From the Sensex pack, Infosys, HCL Technologies, Infosys, NTPC, Mahindra & Mahindra, Tata Consultancy Services, Nestle, Tech Mahindra and Bajaj Finance were the major gainers. Power Grid, Larsen & Toubro, Maruti, Titan, HDFC Bank, Wipro, HDFC and ITC were among the laggards.
The group of ministers on telecom will hold its first meeting on Thursday to resolve the contentious issues in the sector, including the prolonged fight between the cellular and basic operators over WLL mobile services.
The joint venture of Jio Financial Services and BlackRock to foray into India's asset management space could be disruptive but not disastrous for incumbent industry players, analysts said on Thursday. As an investment strategy, analysts suggest investors stay put in shares of those AMCs that consistently improve business metrics, and where market capitalisation-to-asset under management (AUM) valuation is not stretched. However, growth expectations of incumbent players may get trimmed in the medium-to-long term, analysts said, once the Jio-BlackRock JV unveils its plans, discounting the looming challenge as significant enough to dent their profitability.
Arun Sarin, a controversial albeit one of the most successful CEOs of British telecom giant Vodafone, will hang his boots on Tuesday to don a new gear for trekking in Himalayas.
The slowdown in corporate revenue growth over the last one year has begun to reflect in India Inc's capital expenditure, or capex. The country's top listed companies are going slow on fresh investment in capacity expansion, in line with a deceleration in their top line growth. The combined fixed assets of the listed companies, excluding banking, finance services and insurance (BFSI) and the government-owned oil & gas firms, were up 10.1 per cent year-on-year (Y-o-Y) during April-September 2023 (H1FY24) - the slowest in 18 months - as against 21.1 per cent Y-o-Y growth in H2FY23 (October 2022-March 2023) and 11.6 per cent growth in the April-September 2022 period (H1FY23).
Bharti Airtel boss Sunil Mittal already heads the Confederation of Indian Industry (CII). Former BPL Mobile boss Rajeev Chandrasekhar is slated to take over as Federation of Indian Chambers of Commerce and Industry (Ficci) president.
