BSE Midcap and BSE Smallcap indices settled the day 0.7% and 0.9% higher
The government has asked the Telecom Regulatory Authority of India (TRAI) to speed up its responses on the allegations that Reliance Communications (RCom) has violated revenue reporting norms. The government will also appoint a special auditor to scrutinise RCom's books.
Ambani siblings' war intensified on Saturday with the younger Anil's group warning to retaliate in case Mukesh-led Reliance Industries goes legal with its claim on the potential multi-billion dollar amalgamation deal that the former is pursuing with South African telecom giant MTN.
The battle between the Ambani brothers flared up again today -- this time over the Anil Dhirubhai Ambani Group's (ADAG's) bid to seal a merger deal with South African telecom company, MTN.
Company says it has been the victim of a 'mischievous' campaign by rivals.
Anil Ambani group flagship Reliance Communications on Friday entered the elite club of companies with Rs 1 trillion market value on the back of robust quarterly results, joining the likes of ONGC and Reliance.
Market share of Airtel, Vodafone & Idea rises to 70% from 60% in 2010 and 50% in 2008.
Leading telecom operators Bharti Airtel and Reliance Communications will start selling Apple's iPhone 5s and iPhone 5c smartphones from November 1.
Banking on the recent cable landing station regulations, Reliance Communications is planning to launch global video transmission services on its new international long distance network.
The company will also make a $500 million (Rs 2,000 crore) investment through the acquired company in the next 2-3 years to build and acquire WiMax networks across 50 countries. Worldwide interoperability for microwave access or WiMax is a telecommunications technology that provides wireless data over long distances through various mediums. This is the third acquisition by the company as it had acquired US-based ethernet services provider Yipes Holdings for $300 million.
Rival operators' lobby to approach Delhi High Court.
RComm will get GSM spectrum along with other players like Vodafone, Airtel and Idea. This move will bring RComm actively in the GSM field.
Bharat Sanchar Nigam Ltd (BSNL) has received permission to offer CDMA services across the country (except Delhi and Mumbai) under the crossover technology policy. Under the policy, existing GSM operators are allowed to offer CDMA service and vice versa within the same licence after paying a fee.BSNL is the third company after Reliance Communications (which is in CDMA and wanted to operate GSM service) and Tata Teleservices (similar to Reliance) which has been given licences
Reliance Communications launched a new 'Simply Reliance Plan' on its CDMA and GSM networks, which offers a single rate of 50 paise per minute across the country with no hidden charges.
Telecom operators Bharti Airtel, Reliance Jio and Vodafone Idea on Tuesday submitted applications to participate in the Rs 3.92 lakh crore spectrum auction scheduled to start from March 1, according to official sources. This round of auction will be held for 2,251.25 Megahertz (MHz) in seven frequency bands -- 700 Mhz, 800 Mhz, 900 Mhz, 1800 Mhz 2100 Mhz, 2300 Mhz and 2500 Mhz -- at a cumulative base price of Rs 3.92 lakh crore. "Bharti Airtel, Reliance Jio and Vodafone Idea have submitted applications (for the spectrum auction)," an official source told PTI.
The Department of Telecommunications has called a meeting of the heads of all leading telecom companies offering GSM technology services on November 21 to resolve contentious issues that have arisen following recent changes in telecom policy.
3G technology is the latest in mobile communications. 3G stands for 'third generation'. It is the next big revolution in the Indian telecom arena, with all big mobile firms -- Airtel, Vodafone, Idea, Reliance Communications -- in the fray to get a portion of the lucrative pie.
Reliance Petroinvestments, a subsidiary of Mukesh Ambani-led Reliance Industries Ltd (RIL), has approached the Securities Appellate Tribunal against the capital markets regulator, which imposed a Rs 11-crore (Rs 110 million) penalty on the company in the Indian Petrochemicals Corp Ltd (IPCL) insider trading case.
In his third letter in the last one month to Prime Minister Manmohan Singh, Reliance Communications chairman Anil Ambani has lambasted GSM operators.
According to some analysts, Reliance has vaulted ahead of others in the queue and now stands a "rock-solid" chance of getting spectrum earlier than expected.
From a policy point of view, India's telecom industry is getting exciting once again. After a lull of a few years, we're back to the same half-truths from regulators/policy makers, and the all too familiar attempts to help favoured firms.
It means a CDMA players like Reliance can also operate GSM services and get the required spectrum from the government within the same licence. Earlier, they were allowed spectrum either for CDMA or for GSM within the licence. However, now they have to pay an amount equal to the entry fee of a UASL licence (over Rs 1,680 crore for a pan-India licence) to get the spectrum as recommended by the Telecom Regulatory Authority of India.
Anil Ambani-controlled Reliance Communications has entered into an agreement with GSM service providers Hutchison-Essar and the Aditya Birla-controlled Idea Cellular to share passive infrastructure for cell sites.
Branded Mobi-Retail, this service will be offered to the 35 million subscribers of Reliance Communications, who will be able to use their handsets to buy over 100,000 products ranging from fresh vegetables to groceries, readymade garments, toys etc.
For sometime, satellite-based management education has come to the aid of senior managers who never went to a business school.
China-based telecom equipment supplier Huawei Technologies, which has bagged a $200 million contract from Reliance Communications, is upbeat on India and expects to clinch other multi-million dollar outsourcing deals in the country.
Global businesses still believe that India consumption story is intact despite the slowdown of the past couple of years.
A high-profile team from MTN is also expected to meet Reliance Industries Ltd next week to take stock of the situation. RCom had informed the bourses on May 26 that it has entered into exclusive negotiations with MTN for 45 days soon after the South African giant aborted its talks with the Sunil Mittal-controlled Bharti group. The deadline will end on July 8.
CDMA technology developer Qualcomm on Tuesday said it was not negotiating with Indian telecom players, including Anil Ambani group company Reliance Communications, on lowering the royalty paid by them.
At present, Reliance is in exclusive talks with MTN with respect to a potential combination of their businesses. The exclusivity talks period of 45 days started on May 26. The due diligence is currently in the final stages and is likely to be concluded anytime. Industry sources said MTN top brass, including Azmi Mikati, chief executive of the investment unit that is MTN's second-largest shareholder and Phuthuma Nhelko, chief executive of MTN are positively inclined to it.
Their accumulated debt stood at Rs 1,85,720 crore in March.
According to sources, with this deal and some others in the anvil Reliance would be able to double its network capacity(GSM and CDMA) from 35 million lines currently.
Montek Singh Ahluwalia supports operators' plea. He tells the finance minister that existing players should not be charged for the remaining licence period.
Market worth has risen to half that of Airtel and double that of RCom.
The government struck a cordial note with the GSM mobile lobby by agreeing on the Telecom Regulatory Authority of India's (Trai's) norms for spectrum allocation, a move described by rival CDMA player Reliance Communications (RCom) as "succumbing to pressure".
Anil Ambani-controlled Reliance Natural Resources Ltd and Reliance Communication Ventures Ltd on Friday said they have got shareholders'
The Indian stock market boom saw the rise of many wealthy investors. However, some of the high profile companies did not live up to the expectations of investors.
Concerned over mobile signals crossing the international border, the department of telecom is planning to take action against telecom operators
