Jio to charge users 6 paisa/min for voice calls made to rival phone networks. However, these charges are not applicable on calls made by Jio users to other Jio phones and to landline phones and calls made using WhatsApp, FaceTime and other such platforms.
The overall wireless subscriber base increased to 114 crore at the end of June
Billionaire Mukesh Ambani's Reliance Industries and Tata Group have made it to the prestigious TIME's list of 100 World's Most Influential Companies of 2024. TIME called Reliance 'India's Juggernaut'. This is the second time that Reliance has found its way into the TIME list. Jio Platforms, the firm that holds digital properties of the conglomerate, was included in the inaugural TIME 100 Most Influential Companies List of 2021. Serum Institute is the other Indian company on the list.
Consolidated earnings for oil-to-telecom conglomerate Reliance Industries (RIL) may report sequential weakness, and modest year-on-year (Y-o-Y) growth in the June 2024 quarter (Q1FY25), said analysts. Lower refining margins are expected to moderate gains made from other businesses. RIL is slated to report its financial performance for Q1FY25 on July 19.
The freebies are now over, but Jio will need to notch up subscriber numbers and margins to prove its sceptics wrong.
Walt Disney Co and Reliance Industries on Wednesday announced signing of binding pacts to merge their media operations in India to create a Rs 70,000 crore behemoth. Reliance and its affiliates will hold 63.16 per cent in the combined entity while Disney will hold the remaining 36.84 per cent, the companies said in a statement.
Qualcomm launched its new affordable, India-designed chipset, the Snapdragon 4s Gen 2, on Tuesday. This chipset will enable mobile device makers to sell 5G smartphones operating on a standalone (SA) network for Rs 8,300 or less.
According to JP Morgan, it seems that Jio is willing to go for the jugular in chasing market share if this hurts some of its standing rivals like Vodafone and Idea to a point from where they find it difficult to fight back.
Cricketer Virat Kohli has reclaimed the top position in brand value, now reaching $227.9 million, surpassing Bollywood star Ranveer Singh, who holds the second spot with $203.1 million, according to Kroll's 'Celebrity Brand Valuation Report 2023: Brands, Business, Bollywood'. The report ranks India's most influential celebrity brands by assessing their brand values derived from endorsements and social media presence.
Shareholders of industry giants Adani Enterprises, Reliance Industries, and Tata Motors - the latter two are part of the Sensex - will decide on combined related-party transactions of more than Rs 2.68 trillion proposed for this financial year and later. Related-party transactions for BSE 500 companies touched at least a six-year high of Rs 42.1 trillion in FY23, the Capitaline data shows. The Rs 42.1 trillion includes related-party transactions both at balance-sheet and profit-and-loss levels.
Declaring that the plans will come at less than one-tenth of global rates, Ambani said Jio Fiber plans will be priced between Rs 700 to Rs 10,000 per month "to suit every budget".
Stock exchanges are expanding the buffet of index derivatives even as the number of stocks permitted to trade in this space, generating an average daily turnover of Rs 450 trillion, is shrinking. This week, the National Stock Exchange (NSE) started issuing futures and options (F&O) contracts based on the Nifty Next 50 Index, bringing the total count of index derivatives to five.
Diverse marquee investors are becoming long-term shareholders of Jio Platforms because of a unique set of technologies and platforms under one entity.
Vodafone Idea will gradually lose market share given its weak balance sheet and limited financial flexibility, says Fitch.
While most others have not been able to replicate the WeChat model successfully, experts expect Jio to be able to score on its 300 million plus new mobile phone users.
Paytm operator One97 Communications Ltd on Wednesday said it is not in talks to sell a stake to the Adani Group. Adani group has also termed such reports as "false and untrue." Commenting on a report that billionaire Gautam Adani was in talks with Paytm CEO Vijay Shekhar Sharma for a possible stake buy, One97 Communications said, the "news item is speculative and the company is not engaged in any discussions in this regard."
The launch of services by Jio in September 2016 had disrupted the whole telecom sector, with operators matching low rates to maintain competitive edge
The amount from securitisation has been utilised to repay rupee debt, saving significant interest costs for the company.
To help 2G customers who have to buy a new phone to upgrade to 4G, the company had earlier introduced 4G feature phones, to make it affordable for them to make the switch.
Jio had almost three times higher speed than its nearest rival Bharti Airtel.
Neeraj exhibited the basics of throwing a javelin to former Indian cricketer Dinesh Karthik on JioCinema's 'Get Set Gold'
Indian Railways is in talks with Reliance Jio Infocomm to allow the Mukesh Ambani-led telecom major's use of its towers. The aim is seamless mobile and internet connectivity for passengers along the 67,368-km of tracks. The Railway Board has entrusted its RailTel Corporation arm to work on the modalities with Jio. The Jio tie-up is expected to bring down its telecom bill by at least 35 per cent from this financial year.
While Reliance Jio added 3.65 million users in May, both Bharti Airtel and Vodafone Idea continued to lose subscribers.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
The Jio-Bharti battle will not just be limited to mobile telephony but will extend to the fibre to home space too.
The much-awaited soft launch of Reliance Jio's next-generation mobile services has been delayed by another month.
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.
The Sunil Mittal led firm accused the regulator of "wrongly" holding Jio's promotional offer as compliant with the regulatory guidelines
It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid.
Rs 3,050-crore penalty on Airtel, Voda Idea gets nod. Final decision will be taken by DoT.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
The deal follows Facebook picking up a 9.99 per cent stake in the firm that houses India's youngest but largest telecom firm on April 22 for Rs 43,574 crore. Within days of that deal, Silver Lake -- the world's largest tech investor -- bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore. On May 8, US-based Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for Rs 11,367 crore.
Abhik Sen, who tried out the new service, finds out it is good for data and apps, but calls are still sketchy
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 12 per cent rise in December quarter net profit on improving oil-to-chemical business, strong continued momentum in retail and steady telecom unit Jio.
Airtel and Vodafone Idea are also trying to expand the penetration of 4G users in their subscriber base as they take this network to the hinterland
The incumbent operators faced the onslaught of free offers and cheaper rates from Jio.
While the company insisted it had enough spectrum across circles, analysts said the company might soon need to acquire some spectrum to ensure uninterrupted service.
Airtel Xstream will allow its subscribers to access live TV, video, music, news and sports on an over-the-top smart stick, interned-enabled set top box, and handheld devices.
Jio is planning to win over 350 million 2G feature phone users by launching a smartphone at a fraction of the current cost.
July has some interesting content on OTT, with quite a few original shows and movies premiering in the digital space.
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