'As the 1991 experience showed, the solution to a large trade deficit may be to open up the economy, not putting up protective walls,' points out T N Ninan.
Revenue jumped 54.5 per cent to Rs 156,291 crore.
While Reliance has the clout to negotiate prices with suppliers for its e-commerce, not to forget the cost advantage of integrated warehouse and supply chains, Amazon and Walmart are no pushovers, they too have deep pockets.
Its effort to stave off bankruptcy by selling spectrum to Reliance Jio got scuttled after the long legal and government delays for approvals.
RCom may get around Rs 4,500 crore by trading its radiowaves to Reliance Jio.
Walmart, the world's largest retailer, is tripling its sourcing from India to about $10 billion a year by 2027, said Judith McKenna, president, and chief executive officer of Walmart International, the segment which includes the company's operations outside the US. "To achieve this, we are growing our sourcing team in India," said McKenna, during a fireside chat with YourStory founder Shradha Sharma at Converge@Walmart, the flagship event of Walmart Global Tech India. "Walmart has a 20-year history of sourcing from India and already exports more than $3 billion worth of Made-in-India goods each year to 14 markets worldwide." McKenna said the company has expertise in processes such as international standards and demand forecasting that businesses need to get ready to export.
All directors, key officials, and shareholder speakers will be visible and audible and thousands of shareholders, including those from the US, UK, Canada UAE, Japan, HongKong, Singapore, Malaysia, and Australia, will be able to post their questions and eVote on resolutions.
Bharti Airtel's total revenue for the December 2018 quarter stood at Rs 20,519 crore, just one per cent higher than the Rs 20,319 crore in the corresponding period of the previous year.
CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.
From Network18 perspective, this helps reduce dependence on ads and helps especially in times of slower GDP growth.
The market could see a fresh round of tariff war, similar to what happened in the voice market a few years ago.
After missing two self-imposed deadlines, billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced recalibration of a proposed $15 billion deal to sell 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco, saying the two firms have agreed to re-evaluate the proposed investment in light of the Indian firm's new energy forays. The stake sale talks, which were first officially revealed in August 2019, are being reset in light of Reliance making forays into new energy business in recent months by investing $10 billion in alternative energy over three years. To pivot to green energy, it has already bought a German maker of photovoltaic solar wafers and signed a deal with a Danish company to manufacture hydrogen electrolysers in India.
According to a Deutsche Bank report, the Idea-Vodafone combine will have to pay a 30 per cent lower annual installment on spectrum due to the longer duration of the payment tenure.
$47.6 bn capital invested across 921 deals in India in 2020, despite pandemic.
The process of switching off the 3G network has already started with Kolkata in the recent-concluded June quarter. By September, the shutdown will be affected in 6-7 more circles and between December and March the entire 3G network would be shut down.
The average estimate of 12 brokerage houses stands at Rs 6,994 crore for the June 2020 quarter. This is 30.8 per cent lower than the June 2019 quarter net profit of Rs 10,104 crore.
The government has given an option to telcos to pay back interest on dues through equity and also conveyed that it has no interest in acquiring any telecom company, a top official of debt-ridden Vodafone Idea has said. Vodafone Idea Ltd (VIL) managing director and CEO Ravinder Takkar in an interview to PTI said it is clear that the government wants the company to compete in the market and there should be at least three private service providers in the telecom sector. "I have had many many interactions across various parts of the government leading up to this announcement (telecom reforms).
Bharti Airtel chairman Sunil Mittal on Thursday said tariffs need to go up amid "tremendous stress" in the telecom sector, and Airtel will not hesitate to raise prices, but it will not do so unilaterally. The comments by the telecom czar came at a time when Airtel's rival Vodafone Idea has approached the government for a one-year moratorium on payment of spectrum instalment of over Rs 8,200 crore - due in April 2022. Cash-strapped VIL has told the telecom department that while it is working on raising new funding for the last six months, "investors are not willing to invest in the company because they believe that unless there is a significant improvement in consumer tariffs, the health of the industry will not recover and they will incur a loss on their investment".
Reliance reported record pre-tax profit from its retail and telecom businesses. The two now account for nearly 32 per cent of EBITDA, up from close to 25 per cent previously.
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.
The chairman of the Essel Group says he has settled 91.2 per cent of the estimated Rs 11,000 crore debt on the group's books.
This first-of-its-kind-in-India centre is fully funded by Reliance Foundation and includes a negative pressure room that helps in preventing cross-contamination and helps control infection. All beds are equipped with the required infrastructure, biomedical equipment such as ventilators, pacemakers, dialysis machines, and patient monitoring devices.
Some buyers are insisting on a clause in the agreement that the whole deal hinges on physical verification at a later date with some part of payment kept in escrow.
Profit from its retail business jumped 77 per cent to Rs 1,923 crore and that from telecom rose by 78.3 per cent to Rs 2,665 crore.
For the full 2016-17 fiscal, the company generated its highest ever annual profit at Rs 29,901 crore. The annual profit was 18.8 per cent higher than the previous year's.
Voice calling will be free on Jio phones for life and post December 31, 10 data plans will be offered
Tata Group had hinted at combining its enterprise business with Tata Communications and its fixed-line and broadband businesses with Tata Sky.
Mukesh Ambani-led Reliance Jio lashed out at COAI.
Among other gainers, Sun Pharma rallied 5.73 per cent, IndusInd Bank 5.50 per cent and Yes Bank jumped 2.65 per cent.
Apply the 'insurgent' tests on what Ambani, Ramdev and Agarwal have done of late, and you will start seeing the similarities rather than obvious differences of industry, upbringing or social station, says Shailesh Dobhal.
Under another plan, it will offer unlimited voice calling along with 100 SMS per day, 5GB 3G/4G data and free subscription to Wynk Music and Wynk Movies for Rs 1,599
Ajit Balakrishnan offers a thinking man's guide to the state of ecom in a nation of shopkeepers.
The move will help telcos, including Reliance Jio, Vodafone, and Idea Cellular
Dhirubhai may or may not have owned the government; it would seem his son wants to own the market, notes T N Ninan.
'Vodafone Idea has losses running over Rs 10,000 crore in the last four quarters.' 'It has long-term debt of about Rs 1.15 trillion.' 'Even post-issue, the debt service numbers won't be good,' points out Devangshu Datta.
Vodafone m-pesa was one of the 11 firms that was given payments bank licence by the Reserve Bank of India in 2015.
Bharti Airtel and Vodafone Idea have communicated to the telecom department that they will not pay AGR dues of Rs 88,624 crore, the deadline for which ended on Thursday, and will wait for the outcome of modification petition listed for hearing before the Supreme Court next week, according to official sources. Reliance Jio on Thursday paid Rs 195 crore to the telecom department to clear all adjusted gross revenue dues accounted till January 31, 2020, according to an official source.
These customers will be unable to meet the lowest recharge requirements for Jio, meaning they will either exit the market or migrate to BSNL/MTNL.
It is Mumbai's favourite festival and is celebrated each year with fervour and frenzy. But when the city welcomes "Ganpati Bappa" this Friday, the celebrations will be low key. With a cap on the size of idols, ban on processions and restrictions on devotees visiting pandals, celebrations are toned down for the second year in a row. Festival budgets have shrunk and as a result, corporate sponsorships have dried out.
'Unless cash has ceased to be king, the issue is the same in the aviation, telecom and ecommerce sectors: Sustainability,' notes T N Ninan.
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