Inflation is down, growth is headed for recovery. RIL and subsidiary Jio are on an upswing. However, stressed loans and impending job losses are the dark clouds, says Devangshu Datta.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
The uniform SUC, if implemented as per recommendations made by Telecom Regulatory Authority of India, will provide relief for mobile operators such as Airtel, Vodafone and Idea, but will increase rates for broadband wireless access spectrum holders like RJIL.
Investors turned cautious weighing weak GDP numbers and continued drop in automobile sales, bringing banking and auto sector stocks under pressure.
The Department of Telecommunications' Wireless Planning and Coordination arm has moved a note to issue start-up spectrum of 4.4 MHz to four leading service providers offering GSM technology, whose applications have been pending from December 2006.
Members of COAI, including Bharti Airtel, Vodafone-Essar, Idea Cellular and others met in New Delhi and decided to go ahead with filing of the affidavit in TDSAT against the Telecom Engineering Centre's report. COAI has also questioned the government's move to allocate spectrum to two telecom PSUs -- BSNL and MTNL -- saying they have been given frequency out of turn as many other players have been waiting to get spectrum for months and even years now.
The Super Cup is an annual match played between the winners of the Champions League and the Europa League
The companies are looking at tapping solar power, wind energy and bio-fuels, including fish and vegetable oil, to run base transceiver systems in areas with poor power supply.
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
Come September, the company will launch its Time Travel -- Journey 1 album with Sonu Nigam to be released on Nokia's 5130
Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
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.
Spectrum refers to the radio frequencies that enable wireless communication. It has been the source of a bitter dispute between mobile operators of the rival GSM and CDMA technologies. In its petition, Tata Teleservices has also demanded immediate allocation of spectrum that is under the contractual obligation in areas in which it has fulfilled its subscriber base criterion.
The new proposals will lead to complex processes and huge costs for telecom service providers, without any substantial benefits: COAI
The Department of Telecommunications has called a meeting of the heads of all leading telecom companies offering GSM technology services on November 21 to resolve contentious issues that have arisen following recent changes in telecom policy.
The Godhra inquiry panel on Saturday ordered two mobile service providers to provide the call details of Gujarat ministers, legislators, police officials and Chief Minister Narendra Modi, during the post-Godhra communal riots.
The Supreme Court on Tuesday granted 10-year time to telecom firms like Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the Adjusted Gross Revenue (AGR)-related dues to the department of telecommunications with certain conditions.
New telecom operators who have been given licences to operate pan-India GSM mobile services are all set to fight a bitter battle with the established GSM players like Bharti Airtel, Vodafone and Idea Cellular.
Telecom watchdog sought the regulator's intervention on the price hike by Bharti Airtel, Vodafone Essar and Idea and alleged that the three telcos have formed a cartel and increased local call charges by 20 per cent.
Communications Minister A Raja on Monday told Parliament that there was no "contractual agreement" between government and telecom operators to allot spectrum beyond 6.2 MHz, a move that could hurt GSM players like Bharti, Vodafone and Idea Cellular. Raja also ruled out auctioning of spectrum saying this was not feasible based on previous experiences, especially in 1993 when operators were not able to fulfill their roll out obligations.
Market experts say that FIIs have been caught off-guard on their exposures to companies with high-leverage and those facing cyclical headwinds.
Anil Ambani severely criticised the attitude of GSM operators and raised the issue of returning the extra spectrum again.
Telecom regulator TRAI has imposed cumulative penalty of Rs 50 lakh on nine mobile operators for failing to meet quality of service benchmarks in the second quarter ended June 2013, official sources said.
The combined profit before tax of 748 companies, which have declared their results for Q1FY21, is down 46 per cent YoY. Their net sales went down by a quarter as the Covid-19 lockdown led to a sharp fall in economic activity.
Taking the government head on, four GSM mobile operators -- Bharti Airtel, Vodafone, Idea and Spice -- have decided to "unitedly" approach the Delhi High Court against telecom tribunal TDSAT's interim order not to stay the spectrum allocation process.
In his letter dated October 19, Anil Ambani points out that while the top three GSM players -- Bharti, Vodafone-Essar and Idea Cellular -- have acquired an additional 52 million subscribers in the past few years without allocation of any additional spectrum, something they have constantly told the government that they do not have sufficiently.
The telecom sector's adjusted gross revenues have grown 13.2% year-on-year in the June quarter.
The government has accepted Telecom Engineering Centre's report that has suggested tough norms for spectrum allocation to GSM operators, a move that may make it difficult for players like Airtel, Vodafone and Idea to get additional frequency.
The telecom companies have billed the subscribers for the period of communication blockade which began on August 5 when the Centre abrogated provisions of Article 370 and split Jammu and Kashmir into two union territories.
The government expects to garner about Rs 5,000 crore (Rs 50 billion) from the existing mobile operators such as Airtel, Vodafone and Idea by imposing a one-time fee on those who are holding spectrum beyond the threshold limit of 6.2 Mhz, a move which will raise the cost of radio frequency.
Funds will be raised via non-cumulative preference shares issued to Tata Sons on rights basis
"There is no contractual agreement to give spectrum beyond 6.2 MHz. We are releasing more spectrum based on subscriber base as suggested by telecom regulator Trai," Raja said in the House while replying to a question. Spectrum is radio frequency used for offering wireless telecom services. Currently, spectrum allocation norms, which were revised in August 2007, are being followed while the Teleconm Enginering Centre report is awaited.
BSE Midcap and BSE Smallcap outperformed the frontline indices to gain 0.2% and 0.3%
The retrospective tax decision reversing the January 2012 Supreme Court verdict in the Vodafone case has often been cited as the reason for foreign investors losing confidence in India as an investment destination.
Pankaj Vasani tells us how he moved from an unhealthy life to walking and running 20 kilometres a day.
'I hope the trend is sustainable and that economic activity accelerates going forward.'
The announcement quells fears among some telcos that Chinese players might be banned from participating in 5G trials and roll outs.
It may be the season for corporate matchmaking but India Inc's record of managing partnerships is far from impressive, says Shailesh Dobhal.
The highest number of requests are in Karnataka (39.18 million) and Tamil Nadu (35.56 million).
Mobile phone service providers alone jointly reported gross revenue of Rs 55,164.18 crore (RS 551.64 billion).
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