Reliance Industries Ltd, whose offering of rock-bottom tariffs shook up the telecom industry, is looking to repeat the feat in the green energy business, where its billionaire chairman Mukesh Ambani sees promise to outshine all existing growth engines in 5-7 years. Having pledged Rs 6 lakh crore on green energy, Ambani says RIL will scale up investments in this business which will start going live in the next 12 months. "Over the next 12 months our investments across the Green Energy value chain will gradually start going live, scaling up over the next couple of years," Ambani, chairman and managing director of RIL, said in the company's latest annual report.
The first all electric Mercedes AMG launched in India
While payments banks surely lose money, their operating ratios were looking better in 2017-18 compared to the year before. This implies that as customer volumes start picking up, the business models may perk up too, says R Jagannathan.
Bharti Airtel, Reliance Jio, Vodafone Idea said the Railways should not be permitted to offer commercial services like Wi-fi and voice and video communication.
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report. TCS and Infosys have pushed IBM to fourth spot from second. IBM's brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
Priyadarshini Maji evaluates the impact that payment banks are likely to have on your financial life.
From spending a little less than three hours on making voice calls, Indians are spending well over 5 hours. So, while people make more calls, they are spending less than ever, reports Romita Majumdar.
US private equity firm Silver Lake Partners will invest an additional Rs 1,875 crore in the retail arm of Reliance Industries, the Indian firm said in a statement on Wednesday.
For years it has been evident that fibre and DTH would give tough competition to cable in India where regulatory overload has mutilated an already warped industry structure. OTT added fuel to the fire. From Rs 27,000 crore in 2010, cable's share of subscription revenues is now estimated at Rs 13,000 crore.
The Tata group's tryst with mobile services, with either CDMA or GSM technology, did not really fly, forcing it to close operations and write off losses. Now the group is back in the big game, this time straddling the telecom equipment, network and technology space in India as well as the global market. To this end, it is leveraging the opportunities that flow from 5G technology through open radio access network, or O-RAN. Recently, the Tata Sons' subsidiary Panatone Finvest acquired 43.3 per cent in Bengaluru-based telecom equipment manufacturer Tejas Network for Rs 1,850 crore and announced it would buy another 26 per cent of the voting capital through an open offer.
Airtel CEO said, the 5G ecosystem is yet to develop in India and the prices are very high. Telecom companies including Vodafone Idea (VI) and Reliance Jio have also said that the current prices are exorbitant.
Move comes in view of big debt overhang in two sectors; companies unwilling.
Move comes in view of big debt overhang in two sectors; companies unwilling.
Multiple triggers such as asset sales, pickup in energy cash flows, increased traction in omni-channel retail, and rise in ARPUs could further drive the stock.
"Starting December 4, 2016, every new Jio user will get Jio's data, voice, video and the full bouquet of Jio applications absolutely free till March 31, 2017," Mukesh Ambani said, adding that the 'Jio Happy New Year Offer' will also be extended to existing customers on current SIMs.
Nivedita Mookerji explains why a timely rollout of 5G may not be easy in India.
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
Active subscriber base declined by 2.2 million on a month-on-month (MoM) basis to 970.2 million in August 2019, on the back of Bharti Airtel and Vodafone Idea losing customers. Jio was the only operator to add 7.2 million active subscribers in the same month.
If IOC is not allowed to run its own affairs, then we can see it close down in the next 10 to 15 years, warns Sudhir Bisht.
Unlike most MF distributors in India, Paytm Money will be offering low-cost direct plans, which don't charge for distribution expenses
Asian Paints, IndusInd Bank, Nestle India, Maruti, Hero MotoCorp and HUL were also among the gainers, spurting up to 5 per cent. On the other hand, ONGC, L&T and PowerGrid ended in the red. NSE Nifty surged 205.85 points, or 2.29 per cent, to finish at 9,187.30.
Shivani Shinde reports. The youngest member of the Tata group, the much-awaited Tata Neu, has finally been launched for people across the country. The 'super app' offers a number of services ranging from financial services to tech, travel and even groceries. The app takes off with a customer base of 120 million, with 2,500 offline stores. According to the Tata group, the app will be a one-stop destination for all consumer needs. The super app also offers a bouquet of financial offers like Unified Payments Interface (UPI), bill payments, loans and insurance. Tata Neu will also provide other services like fashion, gadgets, groceries, travel and health.
Mukesh Ambani's Reliance group has struck acquisition deals worth $4.2 billion with a dozen companies in just two years to expand its retail business. The latest purchase was of a majority stake in Justdial for Rs 3,497 crore. Elaborating on his acquisition strategy a few weeks ago during the AGM, Ambani stated that one of the key planks would be to acquire businesses that enhanced Reliance's offerings and experiences to customers and that they would be both physical and digital.
'The government is unwilling or unable to provide the kind of relief that Vodafone India is asking for.'
Saudi Aramco chairman and head of the Kingdom's cash-rich wealth fund PIF Yasir Othman Al-Rumayyan will join the board of Reliance Industries Ltd as an independent director in a precursor to a $15 billion deal. Reliance chairman and Asia's richest man Mukesh Ambani, who had two years back disclosed the talks to sell a 20 per cent stake in the company's oil-to-chemical unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the company's annual meeting of shareholders. Harvard educated Al-Rumayyan, 51, will replace Yogendra P Trivedi, 92, who has expressed a desire to retire, Ambani said. On the sale of a 20 per cent stake in the O2C business, he said the deal is likely to conclude this year.
Billionaire Mukesh Ambani-led Reliance Industries Ltd's plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of $36 billion (Rs 2.6 lakh crore) for the new energy business, Wall Street brokerage Bernstein Research said in a report. Reliance currently has three verticals -- oil-to-chemical (O2C) business that houses its oil refineries, petrochemical plants and fuel retailing business; digital services that comprises telecom arm Jio; and retail including e-commerce. New Energy will be the fourth vertical. At the company's annual general meeting of shareholders last month, Ambani announced a plan to invest Rs 75,000 crore in a new energy business over the next 3 years in the next stage in its transformation.
The Union Cabinet has approved the modalities for holding 5G spectrum auctions, and 72097.85 MHz of radio waves will be put on the block by July-end, an official release said on Wednesday.
Even as regulatory focus has zeroed in on foreign e-commerce giant Amazon, a domestic retail giant has been created almost below the radar in Reliance Retail (RR), one of the most crucial businesses for the group's future. From doorstep delivery of groceries, apparels to branded jewellery, medicines, toys, furniture to high street retailing, RR's presence in the world's fourth largest consumer market is just one part of the story.
The Cellular Operators Association of India (COAI) has bluntly told the government there is no reason for its members to roll out 5G networks as they will be unviable if 'captive private wireless networks' are allowed to be run by enterprises. The COAI, which has Bharti Airtel, Reliance Jio and Vodafone Idea as its key members, has written to Communications Minister Ashwini Vaishnaw saying there is 'no business case for the roll out of 5G networks'. Permitting such captive networks will 'diminish the revenue so much that there will be no viable business case left for the telecom service providers and there will not remain any need for 5G network roll out by telecom service providers (TSPs)'.
Shareholders of Reliance Industries have approved the appointment of Saudi Aramco Chairman Yasir Al-Rumayyan on the company board, with less than 2 per cent of votes cast against the proposal. Disclosing the results of shareholder votes on the appointment, Reliance in a regulatory filing said 98.03 per cent of votes were cast in favour of the resolution to appoint Al-Rumayyan for three years. As many as 10.89 crore shares or 1.96 per cent voted against the resolution, while 3.23 crore votes were declared invalid due to lack of proper authorisation, it said.
The fixed line broadband will offer "ultra high-definition entertainment on large screen TVs, multi-party video conferencing from your living room, voice-activated virtual assistants, virtual reality gaming, digital shopping, immersive experiences," Ambani said.
With telecom disruptor Reliance Jio not raising tariffs, incumbents Bharti Airtel and Vodafone Idea are focusing on the minimum monthly recharge and higher first recharge offers to ensure they retain only loyal and revenue-incremental subscribers, reports Romita Majumdar.
Six consecutive profitable quarters after an equal number of losses - for Bharti Airtel, the turnaround has been quick. But it is not a result of higher tariffs or absence of exceptional items alone. Execution and strategy are playing a part, too. Bharti Airtel's chief executive officer Gopal Vittal summed it up in a post-result conference call last month. "We track the profit in each of our 237,500 (cell) sites.
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.
Billionaire Mukesh Ambani on Monday pressed for bridging the digital divide "both among nations and within nations", saying connectivity and communications have become the fundamental rights of every person. Also, there is a need to bring back the economies around the globe. Speaking at the Qatar Economic Forum, he said it is difficult to imagine what India would have been without the 4G telecom network during the pandemic. "The digital divide must be bridged, both among nations and within nations.
Speaking at a fireside chat with Microsoft CEO Satya Nadella, he said the big change driving this transformation was the deepening of mobile networks which were working at a much faster pace than before.
RIL was among the top gainers in the Sensex pack, jumping over 3 per cent to hit its record closing high. Tech Mahindra, HCL Tech, Bharti Airtel, Infosys, HUL and ITC were also among the prominent gainers.
Sensex rally was driven by Bajaj FinServ, Reliance Industries, Bajaj Finance, ICICI Bank, HDFC and Axis Bank. NSE Nifty climbed 326.50 points to end at 15,245.60.
The Department of Telecommunications (DoT) is in the process of issuing a show-cause notice to Vodafone Idea (Vi) for delaying the payment of licence fee. Companies pay 8 per cent of their adjusted gross revenue as licence fee. This also includes a universal service obligation levy. The fee is collected from each of the 22 telecom circles in the country on a quarterly basis.
Equity markets will look for directions from global trends, ongoing quarterly earnings and investment patterns of foreign institutional investors (FIIs) in a holiday-shortened week ahead and may encounter volatility amid the scheduled monthly derivatives expiry, according to analysts. Equity markets will remain closed on Wednesday on account of 'Republic Day'. "This week is a holiday-shortened one and it's going to be critical due to the list of events and data that are lined up.
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