Sensex ends 134.91 pts down at 28,709.87; Nifty falls 44.70 pts at 8,712.05.
Ambani's $15 bn bet will upend Indian telecom
Surprisingly, RIL scrip also fell by 2.73 per cent to 1,029.15, becoming the second biggest loser in the index
ONGC was the top performer while private banking major ICICI Bank extended gains
Airtel, Vodafone, BSNL increase subscriber share while Idea manages to retain
Spectrum auction: Govt revenues reach Rs 1.02 tln on Day 10
The move comes against the backdrop of the US and some of its allies banning the purchase of Chinese telecom gear over security concerns and pressuring other countries to follow suit.
Currently, MNP is only available within a state/circle.
The company has increased the cost of 1 GB of 3G internet usage to Rs 156 from Rs 123 it charged earlier.
New Delhi is also set to top its target of raising at least $13 billion.
Under the UASL norms, spectrum is linked to licences, and a particular band of radio wave is restricted to be used in a particular technology
The reason is believed to be a 19% increase in interest cost.
Successful bidders will have to pay 25 per cent of the amount upfront for sub 1 GHz, and 50 per cent upfront for higher frequency bands.
Sources say companies will have to keep the market share of merged entities below 50% in all circles
Upfront payment of Rs 32,000 cr just half of Budget estimate; no takers for 700 & 900 megahertz bands
Unlike Reliance Jio's focus on 4G, it plans to segment the data market based on device prices and spectrum.
Reliance earned $11.50 for every barrel of crude that it processed during the last three months of the calendar year - almost 60 per cent more than a year earlier.
The government has suffered a loss of Rs 12,488.93 crore (Rs 124.88 billion) due to under-invoicing of gross revenue by six telecom companies including Reliance Communications, Vodafone and Bharti Airtel, the CAG said in a damning report on Friday.
Jio had launched the inaugural free voice and data plan in September last year, and in December, extended the freebies till March 31, 2017
The Telecom Regulatory Authority of India (Trai) has given its recommendations on the much-awaited issue of spectrum sharing.
Banking and telecom will see the highest impact of this transition.
The telecom spectrum auction entered the 33rd round of bidding today after starting off from the Rs 52,689 crore (Rs 526. 89 billion) mark this morning.
'Spectrum payment to push up telcos' debt to Rs 3.5 lakh cr'
Sensex ended above 26,000 led by telecom shares amid TRAI's spectrum sharing norms.
Adani Data Networks said it plans to create a private 5G network for its operations. However, it acquired the spectrum in the last 5G auction alongside three telecom companies. Subsequently, it was granted a unified licence for access services, which enables it to provide telecom services in the country.
Telco sector has been been cutting back on freebies and discounted minutes to maintain profitability.
'At a time when massive strides are being made in bringing 5G technology to India, and with TSPs ramping up their infrastructure, it is unacceptable that a large number of complaints over quality issues continue to come in, even from major urban areas.'
In its letter Voda Idea has warned that it is not in a sound financial state, and added that it would be in a position to meet its liabilities only if the government initiates steps including allowing set-offs for GST credit accumulated so far, and permitting staggered mechanism for payment of balance amount of interest, penalty, and interest on penalty.
Bharti Airtel made part payment of Rs 4,725 crore.
The CAG report, tabled in Parliament, states the interest on the short payment stood at Rs 1,052.13 crore for the period up to March 2016.
Its plans, to cut tariffs by 40% or offer more data, comes bundled with 1 GB high speed data for 28 days with unlimited voice thrown in.
Top three mobile operators spend $13.6 bln in auction
IT majors weakened ahead of the September US jobs data and telecom stocks ended lower
More than 87 per cent of the spectrum has been allocated to bidders.
Telecom companies that bought spectrum in the 2G auction of November last year would lose around Rs 4,000 crore
BSE Midcap and BSE Smallcap indices settled the day 0.7% and 0.9% higher
DoT decides not to scrap dual-technology telecom licences
Telcos may hike mobile rates to recover spectrum cost: Moody's
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SBI will hold 30 per cent in RIL joint venture
High spectrum charges would lead to rise in mobile services rates and adversely impact government's Digital India initiative by impeding telecom network expansion.
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