Airtel, Vodafone, Idea, RCom, Reliance Jiosubmitted applications.
The agency had earlier alleged that the company had sold its 9.1% stake to Delphi for Rs 10 crore --a rate much lower than the prevalent market price.
RCom and Aircel will hold 50 per cent each in the new company
Voice calling will be free on Jio phones for life and post December 31, 10 data plans will be offered
Telecom major Bharti Airtel led the growth in segment with net addition of 1.31 million subscribers.
With the addition of 4,000 employees, the RCom staff strength is estimated to rise to 9,500
The development comes a day after RCom posted a consolidated loss of Rs 30,142 crore for July-September 2019 due to provisioning for liabilities after the Supreme Court ruling on statutory dues.
Adani Enterprises' proposed Rs 20,000 crore (Rs 200 billion) fundraising via fresh issue of equity shares through a public offer would be the fourth biggest by Indian companies, excluding banks and non-banking financial companies.
'Spectrum payment to push up telcos' debt to Rs 3.5 lakh cr'
The deal includes Reliance Infrastructure's integrated business of Generation, Transmission and Retail Electricity Distribution
In a setback to telecom service providers, the Supreme Court on Thursday allowed the Centre's plea to recover adjusted gross revenue (AGR) of about Rs 92,000 crore from them.
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)'.
Despite the recent fall, the Nifty Midcap 100 index has outperformed by gaining 20 per cent till date in this year calendar year.
Despite the recent fall, the Nifty Midcap 100 index has outperformed by gaining 20 per cent till date in this year calendar year.
The Mumbai-based firm is on a cost optimisation drive through outsourcing of network management services and call centre operations.
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At the close of trade, telecom stocks ended with as much as 4.3 per cent loss.
Bharti Airtel made part payment of Rs 4,725 crore.
Initiative aims to encourage more people to use the Internet.
Experts say going ahead data price will fall further due to competition
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.
Mukesh Ambani's Reliance Jio, however, continued to add wireless subscribers
Kishore Biyani-led Future Retail Ltd on Thursday accused e-commerce giant Amazon of adopting a media strategy of "having every development reported and converted into a line of communication with stock exchanges" regarding the Amazon-Future Coupons' arbitration proceedings in Singapore. The Court of Singapore International Arbitration Centre (SIAC) had turned down a plea of Future Retail Ltd (FRL) to be excluded from being a party to arbitration. In a regulatory filing disclosing the development, FRL said,"...this disclosure is being made out of abundant caution to avoid any speculation given Amazon's media strategy of having every development reported and converted into a line of communication with stock exchanges."
American Tower bulks up in India with $1.2 billion Viom stake buy
S&P BSE Sensex settled at 31,170, up 60 points, while the broader Nifty50 closed at record high for third straight session. It ended at 9,624, up 19 points.
Even as telecom services are being restored in Kashmir Valley, mobile operators are offering free calling facility in the region.
Amazon has shot off yet another letter to market regulator Sebi, accusing Future Retail of insider trading and called for an investigation as the US online retailer looks to ratchet up pressure against the Future-RIL deal. Future Group, however, vehemently denied the charges, saying these allegations were "Amazon's ill-motivated attempts to throw everything at the situation to stultify the transaction."
US and European institutional investors bought a majority of shares in the over Rs 4,800 crore (Rs 48 billion) QIP offering by telecom operator Reliance Communications.
The users of 5G-enabled Apple iPhones will be able to try 5G telecom services - wherever available publicly in the country - from next week, both on standalone (Reliance Jio) and non-standalone networks (Bharti Airtel). Airtel and Jio customers who download the iOS 16 Beta software update as part of its 'Apple Beta Software Program' can try the service and send their feedback to the company. The final updated software will become available sometime in December.
Flipkart has promoted several of its leaders into newer roles at a time when the Walmart-owned e-commerce giant has internally raised its IPO (initial public offering) valuation target to about $60 billion and aims for a US listing in 2023, according to the sources. "I am delighted to announce the promotion of some of our exemplary leaders," said Kalyan Krishnamurthy, chief executive officer, Flipkart Group, in an internal note, and which has been reviewed by Business Standard. "Each of them has been instrumental in delivering impact and creating long-term value for Flipkart.
DoT will have wider consultations with all stakeholders.
The government on Friday unveiled long awaited Unified Licence norms that provide for delinking of spectrum from operational permits and allows companies to offer services using any technology.
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
The Supreme Court on Wednesday said that One Rank-One Pension (OROP) in Armed forces is a policy decision and suffers from no constitutional infirmity.
After a turnaround in performance by Indian equity markets since July that has seen the S&P BSE Sensex and the Nifty50 wipe out the year-to-date losses, analysts suggest investors start nibbling into stocks that are focused on the domestic economy. While they say intermittent corrections, led by policies of global central banks and other economic data, cannot be ruled out, analysts expect India's relative outperformance among global equity markets to continue as it looks better placed with a healthy economic recovery, and remains one of the fastest growing major economies. In this backdrop, Neeraj Chadawar, head of quantitative equity strategy at Axis Securities, believes that amid global slowdown, aggressive tightening by the central banks, and preference for domestic interests first (by the local government), export-oriented themes are likely to be muted or will deliver conservative returns in the near-term.
The tribunal accepted the government's argument that licence or spectrum is a state asset over which Aircel had no right of ownership.
Defence Minister Rajnath Singh on Tuesday handed over to the Army a raft of home-grown military hardware including unmanned aerial systems, quick reaction fighting vehicles, patrol boats and surveillance equipment for boosting its overall combat capability in eastern Ladakh.
Credit Suisse said if the deal fructifies, then this will bring together the largest offline and online retailers in India.
GSM based mobile service providers jointly added over 44 lakh new customers, taking their cumulative customer base to 67.88 crore in September, according to data released by industry body COAI on Wednesday.
In 2008, the 13 companies on the list accounted for 34 per cent of the overall m-cap.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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