India's second largest IT services company Infosys on Thursday reported a 3.1 per cent year-on-year rise in net profit to Rs 6,215 crore for the September 2023 quarter. The earnings (before minority interest) of the Bengaluru-based company stood at Rs 6,026 crore in the year-ago period. The company - which competes in the IT services market with TCS, Wipro, HCL Technologies and others - saw its revenue rising 6.7 per cent to Rs 38,994 crore for the just-ended September quarter.
A good monsoon could rein in food inflation. Largely good corporate results mean better days are ahead. Nifty may reach record levels, points out Devangshu Datta.
Indian Space Association (ISpA) chairman Jayant Patil has said that the executive council will debate whether it can include more telecom companies as founding members. The response came after some leading telcos said that they had been asked to be core members but preferred to be inducted as founding members. The key founders of the ISpA include the Bharti group through two companies (OneWeb and Airtel), L&T, Nelco, Walchandnagar, Alpha Designs and MapmyIndia.
Bharti Airtel had planned to charge separately for internet-based voice calls provided by Skype.
However, the second quarter of FY24 is expected to be muted, and, with that, the hope of double-digit growth is now being pushed to FY25. However, analysts are expecting the momentum in the closure of record total contract values (TCVs) will continue, as has been the case over the last two quarters.
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.
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
Canadian firm Research in Motion is installing and testing a new service, to be made available before January 31, which will automatically render lawfully intercepted BlackBerry messenger messages in a format readable by Indian agencies.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
DoCoMo's exit from Tata Teleservices highlights the struggle of smaller operators even as the outlook improves for bigger players.
The govt says the step has been taken to prevent miscreants spreading rumours. The order also applies to SMS services.
Cheap data plans, affordable handsets, increasing popularity of video services and 4G networks have helped average data consumption per user in India to grow to over 11 GB a month, telecom gear maker Nokia said on Thursday. Nokia -- in its annual Mobile Broadband India Traffic Index (MBiT) report -- said the overall data traffic in India increased by 47 per cent in 2019, driven by continued 4G consumption. 4G data constitute 96 per cent of the total data traffic consumed across the country, while 3G data traffic registered its highest ever decline of 30 per cent, it added.
Don't recharge your phone at public outlets -- carry a power bank instead. Avoid clicking on links sent by 'friends'. If you get into an online sexual encounter with a stranger and get blackmailed, refuse to pay up.
Among the businesses that need consolidation are retail and defence
The Indian market is highly competitive, and tariffs here are amongst the lowest in the world.
Vodafone India said on Friday it would launch fourth-generation (4G) mobile phone services in the country by the end of the year.
4G services typically make it much faster than 3G services to surf the web on mobile phones, tablets and laptops.
Next-generation security and disaster management business seems to be next on the radar of Mukesh Ambani-led Reliance Industries, which will utilise its 4G telecom services for this new initiative.
Reliance Industries (RIL's) annual report released on Sunday highlighted the company's focus on new energy solutions, with chairman and managing director (MD) Mukesh Ambani stating that the age of fossil fuels will not continue much longer. RIL has sought shareholders' approval to give Ambani another five-year term as MD till 2029 at nil salary. The recently demerged Jio Financial Services, which "will leverage the prowess of digital and retail businesses", was expected to be listed soon.
Reliance Industries, construction major L&T and IRB Infrastructure are some of the top companies that have used an infrastructure investment trust structure to reduce part of their debt and generate returns for their investors. Earlier this month, IRB Infrastructure InvIT was listed on the National Stock Exchange, giving its investors an option to exit by selling their units. The listing came within months of the Securities and Exchange Board of India's (Sebi's) guidelines for conversion of private unlisted InvITs into listed ones were issued.
Telecom gear makers say will take six to eight months for the top 10 cities to have some reasonable coverage of 5G network services.
The income tax department has found alleged manipulation of account books for reducing taxable income in India by Chinese telecom company Huawei whom it raided recently, sources said on Thursday. The searches were conducted on February 15 at the main business and residential premises of "key office bearers" of a multi-national group, engaged in distribution of telecom products and providing captive software development services, the CBDT said in a statement. Sources identified the company as Huawei.
The disruption in the undersea cable network near Italy is likely to hit the broadband connections in India.
Indian consumers will have their tryst with 3G telecom services in the next six months, with the Department of Telecommunications (DoT) announcing that it is issuing state-owned Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL) spectrum to roll out all-India services.
As per the Trai recommendations, the STD service providers would be connected to ISPs through public internet for the purpose and the two service providers would have mutual agreement for the same. The move will permit calls from personal computers to fixed line and mobile phones. Currently, a voice call can travel between two computers but not from a mobile or a fixed phone.
A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a USD 1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy.
Job postings declined on an annual basis in September but witnessed a marginal uptick compared to August this year, a report said on Tuesday. There was a fall in job postings in various sectors, including media and entertainment, home appliances, shipping and marine, IT and BPO/ITES compared to September 2021. For September 2022, the Monster Employment Index (MEI) showed that there was a 4 per cent decline in hiring activities on an annual basis but a 1 per cent rise on a month-on-month basis.
Strong macroeconomic headwinds causing turbulence in the $245-billion Indian IT industry are yet to calm down. Top Indian IT services companies are likely to post a decline or just marginal growth in sequential revenue in Q1FY24 because of a soft discretionary spending environment. Though the first quarter is seasonally strong for IT firms, "June 2023 will be an exception", according to analysts at Kotak Institutional Equities.
With clients increasingly looking at cost optimisation by passing on the risks to the IT vendors and IT services players demanding longer tenure deals to hedge their risks, a mix of these two factors are giving rise to large deals coming up in the market with a lot of strings attached.
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On May 24, 2012, Bharti Airtel and Qualcomm announced an agreement under which Bharti had acquired 49 per cent interest in Qualcomm AP's India entities with licences to offer 4G data services in four circles of Delhi, Mumbai, Haryana and Kerala.
Reliance Industries Ltd will invest Rs 75,000 crore in rolling out 5G mobile telephony services, expanding retail network and setting up renewable energy capacity in Uttar Pradesh in the next four years, its chairman Mukesh Ambani said on Friday. Ambani also announced foray of the oil-to-telecom conglomerate into bio-energy business, converting agriculture waste into gas which can be used as fuel in industries, run automobiles or light kitchen stoves. Speaking at the Uttar Pradesh Global Investors Summit 2023 here, Ambani said his group will set up 10 GigaWatts of renewable energy capacity and roll out 5G services across the state in the next 10 months.
An opportunity to enter a burgeoning sector at a low valuation and favourable policies are propelling some of India's largest corporate groups to scoop up drone start-ups. "Indian corporations lost the race in aerospace and space tech. "No one wants to miss the bus this time. "These are seasoned businessmen and they realise that the market cap of tech companies with problem-solving capabilities will exponentially rise in future," says Vipul Singh, CEO of Aarav Unmanned Systems (AUS).
Surprisingly, RIL scrip also fell by 2.73 per cent to 1,029.15, becoming the second biggest loser in the index
Move to impact joint ventures in telecom, insurance, broadcasting.
Over the last decade India has seen immense growth in almost all sectors. Among the most prominent of these, showing immense growth, is the Indian telecom sector that has followed a growth pattern far different from the rest of the world. With Indians being price sensitive, and emotional, the slew of advertisements try to touch these aspects -- painting streets with promising adverts.
This will enable Non-Resident Indians in the US to call friends and family back in India at the most competitive rates in the market, Airtel said.
Only those foreign companies with an existing presence in Indian telecom finally put in bids for the 3G auction. The last date for applications was March 19.
It has captured 38 per cent of the feature phone segment in 2018 through frequent innovation, says Arnab Dutta.
Indian businesses' weak ability to compete overseas says much about the infirmities imposed by the intensity of government dominance of economic policy and the nature of this dominance, observes Kanika Datta.
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