Commercial services may start in Mar-Apr next year
10 analysts estimated RIL's consolidated net profit at Rs 11,256 crore and nine analysts estimated revenue at Rs 1.5 trillion.
Why does the world's fastest-growing major consumer of energy fail to attract investments in oil and gas? This is a question worth pondering after private sector conglomerate Reliance Industries Ltd (RIL) failed to close a $15-billion downstream asset deal with Saudi Arabia's national oil company, Aramco. It's understandable if multi-billion dollar investments in oil and gas projects or deals involving state companies that need to traverse a complex bureaucracy at state and federal levels and the corridors of ministries unravel. However, Mukesh Ambani-run RIL, India's most successful energy company, is not typically known to fumble on closing deals (Ambani closed deals worth around Rs 2 trillion early last year in telecom and retail with blue chip investors).
Fifty per cent of bank restructured assets were in infrastructure, steel, power and telecom sectors.
The commerce department has said that earnings through the new tax will equal the losses faced by Indian industry after the US tariffs on steel and aluminium.
Experts believe cyclical glitches account for the downturn in mobile-phone sales
Telecom subscribers had it good during Rahul Khullar's watch as Telecom Regulatory Authority of India (Trai) chairman.
Mittal would travel in trucks with his consignments.
The government is concerned about the spyware and malware associated with imported telecom gear. India had demanded that global telecom gear makers place source codes and design elements in an escrow account.
Of the 23 Indian billionaires mentioned in the Bloomberg Billionaires Index, only one saw a reduction in net worth, with the companies owned by most of them outperforming the Nifty 50 index by a big margin.
'There will be two to three months of containment, and when there is normalcy, the risk is a relapse and a return to lockdowns.'
'We have filed our draft red herring prospectus for a floating IPO for a net offer size of 86.6 million shares.'
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
With the State Bank of India moving the National Company Law Tribunal's Delhi bench to enforce the personal guarantees of Ambani, it will delay the recovery of dues by the Chinese banks which won a UK court order in May this year.
Reliance Jio and Facebook will look to use WhatsApp for delivering goods from local neighbourhood kirana stores to consumers before expanding collaboration in education and healthcare sector, billionaire Mukesh Ambani said soon after announcing the mega Rs 43,574 -crore deal. "All of us at Reliance and Jio are delighted to welcome Facebook Inc," he said in a short video message posted on the group's social media handles.
Jio has been allocated spectrum in 28 gigahertz to run 5G trials.
VIL has countered Trai's contention that the RedX plan, which commits higher speeds, should have been informed separately so different aspects could have been examined before such service was launched.
Terming investment in infrastructure "quintessential" to boost growth, the Economic Survey on Friday said post unlocking of the economy, infra sectors are poised for growth and construction of roads is expected to return to the high pace attained before COVID-19. The infrastructure sector will be the key to overall economic growth and macroeconomic stability, the Survey said emphasising that the year after the crisis (2021-22) will require sustained and calibrated measures to facilitate the process of economic recovery and enable the economy to get back on its long-term growth trajectory. "Basic infrastructure facilities in the country provide the foundation of growth. In the absence of adequate infrastructure, the economy operates at a suboptimal level and remains distant from its potential and frontier growth trajectory.
Aramco also plans to invest in building India's largest oil refinery on the country's west coast.
The Board for Reconstruction of Public Sector Enterprises will take up the case of ITI in its next meeting, on May 31.
India's total online shopper base at 30 per cent of its internet population is low when compared with 78 per cent in China and 70-plus per cent in the US.
RIL has faced protests from local authorities, activists and residents across India campaigning against masts and roadworks.
Pune-based entrepreneur's unlisted company is already the largest vaccine manufacturer in the world and the networth has been helped by vaccine distribution and manufacturing potential of his business, it added. Recentrly, Serum struck an agreement with AstraZeneca to manufacture 1 billion doses of coronavirus vaccine being developed by Oxford University.
More activity in the IT, health care, services sectors; manufacturing firms keeping fingers crossed.
'For equities, inflation trending upwards but within the range of expectations can actually be a big positive as it helps earnings and may shift flows from bonds to equities.'
As the Indian equities signed off 2019 on a remarkable note, the m-cap of BSE-listed companies rose by Rs 11,05,363.35 crore to Rs 1,55,53,829.04 crore.
The effective cost of the fully made-in-India phone will be zero, as against the minimum Rs 3-4.5k cost for a smartphone, Ambani said.
Ten central trade unions except Bharatiya Mazdoor Sangh are observing one-day general strike on Thursday to protest against various government policies.
Schuldschein is an alternative way to raise funds instead of loans or bonds and deals can run from $12 million to more than $1.13 billion. These instruments include tranches of different maturities and currencies and investors are spread across the world.
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.
Upfront payment of Rs 32,000 cr just half of Budget estimate; no takers for 700 & 900 megahertz bands
Indian policy-makers must see the choices before them as economic, not moral, ones, says Ajit Balakrishnan.
The move by these broadcasters comes close on the heels of the Telecom Regulatory Authority of India announcing a review of its earlier tariff order, announced six months ago, which among others capped the prices for la carte channels.
India's stand is important against the backdrop of US FCC's decision to roll back its net neutrality rules adopted in 2015
According to industry insiders, India has 400 million smartphones and is the world's fastest-growing app market. So the addition or deletion of apps impacts the global valuations of these platforms. "Based on calls given by various local organisations to delete Chinese Apps, there will be an impact," said Blaise Fernandes, director at foreign policy think tank Gateway House. "All of them eventually will go the IPO (initial public offering) route so there would be economic impact also."
Not just mid- and small-sized firms, even big ones will either sell group companies or stakes in their listed entities to tide over crisis; more sell-offs seen in coming months.
The job placement rate for students trained by NIIT in China is over 90 per cent.' A revealing excerpt from Saibal Dasgupta's Running With The Dragon: How India Should Do Business With China.
India is looking at 5G technology as a major opportunity in terms of offering services tailored for rural India like telehealth, tele-education and bandwidth-heavy applications
We have a government with an extremely weak economic team advising a PM who hardly pays attention to their thoughts, says Jayanta Roy.
Bharti's ratings headroom is likely to improve with an equity infusion, planned asset sales and growing EBITDA from Africa.
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