The Mukesh Ambani-controlled Reliance Infocomm on Sunday said it had invested over Rs 14,000 crore towards rolling out its information and communication infrastructure, and dismissed allegations of huge bad debt.
Consumers can expect a 5G launch in the country soon. Telecom companies (telcos) say if auctions take place on time - the target is July - they would be able to offer some services in a few cities by the end of this year and a full roll-out from 2023. But the question is: will 5G turn the tables for telcos financially? Will average revenue per user (ARPU) improve? Will mobile consumers upgrade to 5G quickly and pay more? Will the expanded functions that 5G enables drum up sufficient revenues? In simple terms, will telcos make more money?
Mukesh Ambani, Chairman of Reliance Industries Ltd, has won this year's prestigious World Communication Award as the world's most influential person in telecommunications in 2004, said a company release.
Wipro, Steel Authority of India, HDFC Bank, Mahanagar Telephone Nigam, Bharat Heavy Electricals and Reliance Commnications among companies reporting a decline in headcount in FY17.
TCS, Bajaj Auto, Adani Ports and Cipla were the top gainers on BSE Sensex while Coal India, GAIL, Dr Reddy's and Infosys lost the most on the index.
Mukesh Ambani's Reliance Industries Ltd is preparing to apply for permission to set up a nation-wide broadband telecom network for internal (non-commercial) use.
Reliance group chairman Anil Ambani on Thursday appeared before the Enforcement Directorate in Mumbai in connection with a money-laundering probe against Yes Bank promoter Rana Kapoor and others, officials said. The agency is expected to record the statement of Ambani under the Prevention of Money Laundering Act. The 60-year-old businessman arrived at the ED office in Ballard Estate around 9.30 am.
Fresh buying by domestic institutional investors and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment
In a move that could hot up the telecom war, Anil Ambani owned Reliance Infocomm has accused Videsh Sanchar Nigam Ltd of killing the competition in bandwidth market by creating both price and non-price barriers.\n\n
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
The 30-share Sensex ended up 8 points at 27,508 and the 50-share Nifty closed 1 point higher at 8,284.
Amazon provided mere "lip service" and failed to provide any help to the debt-laden Future Group as the retail major suffered massive setback amid the COVID-induced lockdown and faced possible insolvency or debt restructuring, Future Group's promoters said in a letter to the e-commerce giant. This is the first time Future Group promoters have written to Amazon after the parties were embroiled in a legal battle over the sale of Future's retail assets to Reliance Industries. The letter from the promoters, including Kishore Biyani, was written on December 31. It alleged that Amazon's actions "lacked good faith" during the March to August period, when the group's retail business was severely hit by the lockdown.
The S&P BSE Sensex gained 57 points to end at 26,064 and the Nifty50 climbed 17 points.
The S&P BSE Sensex ended 80 points up at 23,789 while the Nifty50 closed at 7,235, up 24 points.
The intra-city cable leasing deal will give RCom Rs 1,200 crore, which will be used to clear some of its debt.
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.
Just a few weeks ago, Communications Minister Ashwini Vaishnaw did some tough talking with the senior managers of Bharat Sanchar Nigam Ltd, the ailing state-owned telecom service provider. The message was clear: They had to perform, quit by taking the voluntary retirement package or be compulsorily retired from service. The terse message from an otherwise polite and soft-spoken minister came just days after he announced a second and bigger package of Rs 1.64 trillion as part of a four-year turnaround plan for BSNL.
For 2100-MHz, 2300-MHz and 2500-MHz bands across circles; aim to offer these with 3G and 4G in February
Sebi has barred Allegro Capital and one of its senior executives from the securities market for one year in a case related to alleged insider trading activities in the shares of Biocon. Besides, the market watchdog has directed them to disgorge wrongful gains along with interest. The amount would be more than Rs 24 lakh. Allegro Capital and its director as well as major shareholder Kunal Ashok Kashyap have been fined Rs 10 lakh each, according to an order by Sebi dated July 8.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
Justice Rajiv Shakdher, who was hearing a plea by Bollywood producers seeking to restrain them from making irresponsible remarks, listed the matter before the Joint registrar for January 18 for completion of pleadings and admission/denial of documents.
The high court's order came on a plea by acquitted individual and Kusegaon Fruits and Vegetables Pvt Ltd director Asif Balwa that the CBI has not placed on record the mandatory authority under the provisions of the CrPC.
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
Beside RIL's Jio Switch and Jio Browser, smaller Indian app companies who have been overwhelmed by TikTok are again seeing a big rush - even though till the second week of June they might not have been even listed in the top 100 apps in the country.
'It's the brazen corruption involving politicians that makes you sit up years after the event,' notes Nivedita Mookerji after reading B K Syngal's Telecom Man.
Muted quarterly earnings, mixed cues from global markets and unabated foreign fund outflows added to the volatility
On the method of computation of its share value under the new dispensation for the purpose of taxation.
Following the October 24 Supreme Court order, the department of telecom estimated that the total liability of 15 telecom companies, including penalties and interest, would be Rs 1.47 lakh crore.
The broad-based NSE Nifty rose 52.80 points, or 0.50 per cent, to end at 10,530.70
Balwa, who is accused along with 16 others in the case, claimed that he cannot be prosecuted for pushing back Tata in the race as the firm was never in the race to get the 2G spectrum licence
IndiGo Airlines signs $2.6-billion leasing and financing MoU with Industrial and Commercial Bank of China.
The government on Wednesday approved a Rs 7,350-crore scheme to boost production of laptops, tablets, all-in-one PCs and servers in the country, as it sought to woo global and domestic players to take advantage of India's manufacturing prowess. Production worth Rs 3.26 lakh crore and exports of Rs 2.45 lakh crore are estimated over the next four years under the new scheme, which is expected to create 1.80 lakh jobs. Briefing reporters after a meeting of the Cabinet, Communications and IT Minister Ravi Shankar Prasad said the Production Linked Incentive (PLI) scheme has been approved for IT hardware products that would cover laptops, tablets, all-in-one PCs and servers.
Lt Governor says discoms must cooperate or face cancellation of licences. Ficci cries interference.
Licence winners are expected to be announced by the first quarter of 2014.
On a weekly basis, the Sensex climbed 749.86 points or 2.69 per cent and the NSE Nifty soared 237.10 points or 2.76 per cent
There was no word on whether or when Patel would be talking to the media about his priorities and plan of action as head of Mint Street
The move comes against the backdrop of the US and some of its allies banning the purchase of Chinese telecom gear over security concerns and pressuring other countries to follow suit.
The case relates to alleged wrong classification of mixed xylene
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