Revenue decline has left the operators with little money to service their mostly 3G and partly 4G infrastructure leading to poor data and voice quality.
The network has been built by six telcos to handle high bandwidth demands of emerging technologies and applications.
Three firms, Vishvapradhan Commercial Pvt Ltd along with AMG Media Networks and Adani Enterprises Ltd, have offered a price of Rs 294 for the acquisition of up to 1,67,62,530 fully paid-up equity shares of NDTV having a face value of Rs 4 from the public shareholders.
Reliance Industries shareholders will have to pay only 25 per cent for subscribing to the company's mega Rs 53,125-crore rights issue, and the balance will have to be paid in two instalments in May and November next year, the company said.
RIL plunged around 4% after scaling its life-time high of Rs 1,978.50 as investors rushed to book profits after the company's AGM. Bharti Airtel, ONGC, IndusInd Bank, Bajaj Finance and SBI were also among the laggards. On the other hand, shares of Infosys rallied around 6 per cent ahead of its quarterly earnings. HCL Tech, TCS, Tech Mahindra, Axis Bank and HUL too ended with robust gains.
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.
Infrastructure for all-IP next-generation, wireless broadband infrastructure across all the 29 states in India is being laid, says Mukesh.
RCom had net debt of about Rs 40,222.6 crore at the end of June 30.
A grouping of Indian and Indian-origin professionals working with tech giants like Google, Uber, Amazon and Facebook have written an open letter against the new religion-based citizenship law and the planned national register of citizens, terming them as "fascist". The letter by 'TechAgainstFascism' on online publishing platform Medium also urged the leaders to refuse to shut off the Internet at the "government's whim" and to ensure that content moderation is not skewing pro-government.
Jio's disruptive strategy, including free voice services and data at throwaway rates, apart from offering all services free for six months, triggered a consolidation in the telecom sector.
Reliance Retail will also sell Wi-Fi dongles.
Of the two big players, while Bharti Airtel can leverage its existing subscriber base, newcomer Reliance Jio will have to wean away subscribers from the incumbents
Revenue jumped 54.5 per cent to Rs 156,291 crore.
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
When on October 24, the Supreme Court, on a petition moved by the government, ordered payment of past dues according to its new definition of AGR, the country's second-biggest carrier Vodafone-Idea Ltd warned of shut down if no relief is given. The total dues for the industry ran into a whopping Rs 1.47 lakh crore. For an industry that has come from 7-8 operators to just three private players and state-owned fourth operator, the warning by Vodafone-Idea sounded like a death knell.
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).
Facebook CEO Mark Zuckerberg has said steps taken by the social media giant have helped protect the integrity of more than 200 different elections around the world, including in India, and have also played an important role in stopping abuse ahead of US elections.
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.
India's telecom sector has been through dizzying peaks, troughs, policy U-turns, court battles, brutal competition, and daily controversies. India could go back to a private sector duopoly with just Reliance Jio and Bharti Airtel surviving the mayhem. The third player, Vodafone Idea, could be history.
Pointing out to the 133-acre Dhirubhai Ambani Knowledge City on the outskirts of the financial capital, he said there is huge realty play opportunity that RCom's erstwhile corporate headquarters possesses, and pegged the potential value creation at the site at Rs 25,000 crore.
Bharti's ratings headroom is likely to improve with an equity infusion, planned asset sales and growing EBITDA from Africa.
Indian Oil Corporation (IOC) and two other public sector oil firms will install 22,000 electric vehicle (EV) charging stations over the next 3-5 years to support the nation's target to reduce its carbon intensity and reach net zero emissions by 2070. IOC, the country's largest state-controlled refiner by capacity, will set up EV charging facilities at 10,000 fuel outlets over the next three years, chairman Shrikant Madhav Vaidya said. Bharat Petroleum Corporation Ltd (BPCL) said it will set up 7,000 stations over the next five years while Hindustan Petroleum Corporation Ltd (HPCL) has plans for 5,000 stations.
Of the 23 Indian billionaires mentioned in the Bloomberg Billionaires Index, only one saw a reduction in net worth, with the companies owned by most of them outperforming the Nifty 50 index by a big margin.
The long-overdue consolidation makes indebted RCom an even more attractive partner for a soon-to-launch upstart led by older brother Mukesh.
Oil, banks eneded the day in green while few in auto sector lost heavily.
Amazon on Sunday won an interim award against its partner Future group selling retail business to Reliance Industries for Rs 24,713 crore after a Singapore-based single judge arbitration panel put the deal on hold. Amazon had dragged Future to arbitration after the Kishore Biyani group firm had agreed to sell businesses to billionaire Mukesh Ambani's Reliance.
The market valuation of Reliance Industries, the country's most valued firm, is fast nearing the Rs 10 lakh crore mark, surpassing British energy major BP Plc.
The company is targeting 100 million subscribers in shortest possible time, RIL Chairman Mukesh Ambani said
Public-interest litigators Arundhati Katju and Menaka Guruswamy, who spearheaded a historic legal battle for LGBTQ rights in India, along with Reliance Industries Chairman Mukesh Ambani are among the Indians who have been named by TIME magazine in its prestigious list of the 100 most influential people in the world. The list also includes Indian-American comedian and TV host Hasan Minhaj.
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.
Revenue was also boosted by robust growth in retail business which recorded a 73.6 per cent increase to Rs 11,571 crore
The intra-city cable leasing deal will give RCom Rs 1,200 crore, which will be used to clear some of its debt.
The DoT has issued long-awaited migration guidelines which pave way for Internet service providers (ISP) like Reliance Jio Infocomm and Tikona, that have BWA spectrum, to offer mobile telephony service by paying an extra fee of Rs 1,658.57 crore (Rs 16.58 billion).
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
How can we compare say an upcoming Munjal University to an IIT-Mumbai?
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 Ambanis are the only Indian family on the top 10 richest families list in Asia.
The Telecom Regulatory Authority of India (Trai) has given its recommendations on the much-awaited issue of spectrum sharing.
Bucking the overall downtrend, shares of RIL rallied nearly 10 per cent, capping the Sensex loss to a large extent.
Refining and petrochemicals contribute around 90 per cent to RIL's overall revenue and profit.
