Vodafone-Idea is working on a multi-pronged strategy to begin its long journey to get back in the game but much hinges on how much money it can raise following the government's decision to go for equity conversion last week. Based on discussions with sources aware of the company developments and with vendors, VIL's immediate plan is to invest in increasing 4G coverage to the level of its competitors. Currently, it covers a 1 billion population with 4G while its competitors cover 1.2 billion people.
Mukesh Ambani has reclaimed the top position on the 2023 Forbes list of India's 100 Richest with a net worth of $92 billion. The fortune of infrastructure magnate Gautam Adani, who rose meteorically to overtake Ambani as India's richest person for the first time last year, has slipped to the second position. Adani's net worth, which includes that of his family, fell by a whopping $82 billion to $68 billion, after a report by US short-seller Hindenburg Research in January sent his group's shares tumbling.
Taali is an addition to the small list of films that are willing to offer respect and dignity to a marginalsed and misunderstood community, applauds Deepa Gahlot.
Rohit, who will also captain the side, will be expected to carry on with his ultra aggressive approach in the powerplay like he showed in the ODI World Cup.
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.
Vodafone Idea Ltd (VIL) CEO Ravinder Takkar did some plain speaking. In an analyst call after its quarterly results recently, Takkar said that the main stumbling block to raising fresh capital from investors is "pricing" - telecom tariffs, in other words. Nine months ago, the telecom company's board had cleared a proposal for raising Rs 25,000 crore from investors, after the promoters made it clear that they were not ready to pump in more money. But potential investors are concerned that without clarity on tariff hikes (there have been none for more than 18 months) they might just lose their money. The lack of visibility on raising tariffs has also impelled VIL to request the Department of Telecom (DoT) for a fresh reprieve by extending the two-year moratorium on paying its spectrum instalment of Rs 8,200 crore for another year till FY23.
Meaningful market share would go to those who have the distribution strength to push their products, such as banks.
Airtel on Wednesday said its customers can enjoy free unlimited incoming calls on international roaming while travelling to popular destinations like the US, Canada, the UK and Singapore.
The merits and demerits of the telcos' 5G strategy however is clearly dependent on the financial muscle of players, reports Surajeet Das Gupta.
The fall represented the second straight month of decline in subscribers. Users in the segment had reduced by 3.66 million in September, shrinking for the first time in seven months.
Billionaire Mukesh Ambani on Monday laid bare the succession plan at India's most valuable company, identifying twins children Akash and Isha for telecom and retail leadership, and youngest son Anant for new energy unit. He, however, insisted he isn't retiring yet and will "continue to provide hands-on leadership as before". At the annual shareholders' meeting of Reliance Industries Ltd, he said the robust architecture that he has announced will ensure the firm remains "a unit, well-integrated and secure institution even as it develops existing businesses and adds new growth engines."
Sale of Apple's iPhone 15 is estimated to have registered a 100 per cent growth compared to that of the iPhone 14 series on the first day with high demand for made-in-India iPhone 15 and iPhone 15 Plus models, according to industry sources. Apple has for the first time made available the 'made-in-India' iPhone on the same day it started selling the devices in the country and other parts of the globe. "Till evening, 6 pm IST, the sales of iPhone 15 series have recorded over 100 per cent growth on Day 1 compared to the sale of iPhone 14.
Billionaire Mukesh Ambani has set targets for his three kids whom he has identified for takeover of telecom, retail and new energy business. Speaking at his father Dhirubhai's anniversary, celebrated as Reliance Family Day, he said the oil-to-telecom-to-retail conglomerate Reliance industries Ltd has embarked on a journey of comprehensive self-transformation. "The end of 2022 is when Reliance will have crossed the half-way mark of its Golden Decade.
The queue for mutual fund (MF) licences has thinned down due to quick clearances by the Securities and Exchange Board of India (Sebi) alongside applications being withdrawn amid regulatory changes. There were, at the end of September, only two pending MF applications: By AngelOne and Unifi Capital. By comparison, there were 11 applications lying before the market regulator at the start of calendar year 2023.
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
With India rolling out 5G services, can telcos get the sizeable 350-400 million 2G customers to upgrade to 4G, or even better -- but very improbably -- straight to 5G?
Reliance Jio Infocomm, expected to start commercial operations in the Indian telecom space in the next few months, had a net worth of Rs 5,026.16 crore, the company said in a statement submitted to the Department of Telecommunications (DoT) on Monday.
As Ayodhya readies itself for the glittering, much-awaited consecration ceremony of the Ram Mandir on January 22, and as millions of pilgrims and devotees pour into the holy city for the momentous event, companies are rushing to do their bit and be a part of the mega celebrations. Some are offering a part of their profits as donations, telcos are beefing up the number of cellular towers to ensure better connectivity, and there are those distributing jalebis and food platters.
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.
After Reliance Industries Ltd and its partner bp plc of the UK, Nayara Energy - the nation's largest private fuel retailer - has started selling petrol and diesel at Re 1 less than the fuel sold by state-owned retailers, officials said. While state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) continue to hold prices despite a drop in international rates, private fuel retailers have started passing on the benefit to consumers. "To further stimulate domestic consumption and cater to local customers better, we have introduced a Re 1 discount in our retail outlets until the end of June 2023," a spokesperson for Nayara Energy said.
Two brothers have begun collaborating in certain businesses.
With three key subscription drivers -- F1, IPL and HBO -- gone, can Disney+Hotstar depend only on its chart-topping originals like Criminal Justice and Rudra: Edge of Darkness to hit both scale and profitability?
The company will invest Rs 7,000 cr over 2-3 years to launch services in eastern, northeastern states.
Flipkart, the e-commerce company owned by Walmart, is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026, instead of this year, according to people familiar with the matter. The firm might consider listing in the US or any other geography, including India. The company, which counts the likes of Amazon and Reliance's JioMart among its competitors in India's burgeoning e-commerce market, had also contemplated launching an IPO in 2022-2023.
Dixon Technologies right now is a beehive of activity. It is building a new facility in Noida to make 1.3 million laptops for Taiwanese PC maker Acer. The facility must be up and running in four months. The pace of activity will only increase. Last week Dixon won a similar contract from Lenovo, the Chinese personal computer maker and the third largest information technology (IT) hardware brand in India, to assemble laptops and notebooks. Though the clientele in these two cases is Taiwanese and Chinese, Dixon is a company reaching for the stars with its feet planted firmly in the Indian government's policy.
Mukesh Ambani, who took over the reins of Reliance Industries Ltd (RIL) after the sudden demise of his legendary industrialist father Dhirubhai Ambani, completes 20 years at the helm during which the company saw a 17-fold jump in revenues, 20-times surge in profit and has become a global conglomerate.
Shareholders have given approval to the appointment of Ambani scions Akash, Isha and Anant on board of Reliance Industries, the company said in a stock exchange filing.
Anant Ambani, the youngest son of billionaire Mukesh Ambani, will wed Radhika Merchant, daughter of industrialist Viren Merchant, the family announced on Thursday. The 'roka' or engagement ceremony of Radhika, daughter of Shaila and Viren Merchant, and Anant was performed at the Shrinathji Temple at Nathdwara in Rajasthan on Thursday in the presence of family members and friends. A statement issued by the family said the young couple after the engagement spent the day at the temple seeking Lord Shrinathji's blessings for their upcoming union.
5G ambulances will not just allow remote consultation, but would also be able to transit data and video to hospitals in real time, saving precious time for critical patients. 5G technology would also support the development of new educational applications, improve agriculture productivity, and aid search and rescue missions with high resolution cameras in disaster recovery zones.
'If OTT platforms had not come in, we would not get this second lease of life.'
Sector experts have, however, indicated that a large part of the airwaves in the upcoming auction will remain unsold.
Pawan Kumar Soni, a 55-year-old farmer based in Sri Ganganagar City in Rajasthan, became a victim of a cyber fraud when his 26-year-old son Harsh Vardhan opened a link from a phishing message that flashed on his mobile phone.
'With this revamp the anonymous journey of the user will begin wherein he will not have to sign in every time he accesses the app.'
'What the film shows is an India, which was headed in a completely different direction than where we are headed.'
'We showcased about 20 use cases in 5G trials in Pune and Gandhinagar and some of them were interesting and innovative.' 'However, which ones will take off and which ones would not be relevant, we don't know yet.'
Gayle said only three teams dominating the game can't be good for the game in the long run.
Close to $18 billion that Reliance Jio and Reliance Retail mopped up from a slew of private equity transactions in 2020 has pushed up the money inflows through this route by 108 per cent to $33.8 billion, according to an industry report. As per the data collated by Refinitiv, private equity investments increased 108 per cent in 2020 over the previous year, with the number of deals jumping from 665 in 2019 to 791 in 2020 at $33.8 billion, despite the pandemic. In 2019, total PE deals stood at $16.2 billion. Most of the fund inflows were in the third quarter, fetching $24 billion, which, however, tapered off in Q4 to just about $4.57 billion, as per the data from the agency that tracks financial transactions at a global level.
The figure is based on the base price of spectrum for the upcoming auction fixed by the TRAI and on the assumption that there will be no bidding war.
State-owned BSNL will start 5G services in 2024, Union Telecom Minister Ashwini Vaishnaw said on Thursday. BSNL has shortlisted a TCS and C-DOT led consortium for rolling out 4G network, which will be upgraded to 5G in about a year of placing the order under the contract. "BSNL will start 5G services in 2024," Vaishnaw said while speaking to reporters in New Delhi.
Reliance Industries chairman Mukesh Ambani on Thursday said Jio and Google have jointly developed a power-packed and affordable smartphone 'JioPhone Next', which will be available in the market from September 10. Ambani promised that JioPhone Next will be the most affordable smartphone not just in India but globally. Speaking at RIL's annual general meeting, Ambani asserted that an ultra-affordable 4G smartphone is essential to make India '2G-mukt' (free of 2G).
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