American technology giant Apple's chief executive Tim Cook on Wednesday met ICICI Bank's top brass at the country's largest private sector lender's corporate headquarters in Mumbai.
India's shift towards US companies for technology investments and partnerships fits well with the present government's 'Atmanirbhar Bharat' and 'Make in India' initiatives, say experts.
Home minister heads several groups of ministers, including the one to decide the revival package for Bharat Sanchar Nigam and Mahanagar Telephone Nigam. His ministry also takes decisive calls on national security in relation to telecom operations as well as equipment and technology used in the industry.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
In the biggest ever deal in the Indian media sector, RIL will acquire control in Network 18 Media & Investments Ltd, including its subsidiary TV18 Broadcast Ltd.
Reliance has significant investments in telecom, consumer retail and media businesses in India.
Here's a quick at the two cousins, Akash and Anmol.
Reliance Big Entertainment entered into a strategic alliance with music company T-Series to exclusively distribute the current titles in the BIG Music catalogue and all future titles in Reliance Big Entertainment on all formats and media including radio, television, mobile and digital formats, across the globe.
Fresh capital will help Flipkart further grow its e-commerce marketplace in India as the world's second-largest internet market begins to recover from the COVID-19 crisis.
Founded in 2015, Meesho is one of the country's fastest growing social commerce platforms, and provides small and independent entrepreneurs with products and tools to start, maintain, and grow their businesses. Facebook's interest in the digital commerce follows Reliance Industries' entry into the hybrid e-commerce ecosystem.
'We are having an outsize impact not only on the lives of the customers and livelihood, but also the economy of India.'
The 2016 upstart, called Jio, dislodged rivals and has emerged as the nation's No. 4 carrier by offering call services free for life and data transmission at dirt cheap rates.
Categories such as lifestyle, food and electronics accounted for over 1,350 sellers across the country last year.
RIL's Rs 53,124 crore rights issue was India's largest-ever rights issue. It was also the world's largest rights issue by a non-financial institution in the last ten years.
The Sunil Bharti Mittal-led firm on Sunday approached its competitors to set up intra-circle roaming and other processes in the way it is done by the sector to respond to disasters.
SBI was the top gainer in the Sensex pack, surging around 8 per cent. Tata Steel, Bajaj Finance, HDFC Bank, NTPC, Axis Bank and ICICI Bank also ended with firm gains. On the other hand, TCS, HUL, Bajaj Auto and Infosys were among the laggards.
In big bang reforms, the Union Cabinet on Wednesday approved a relief package for the telecom sector that includes a four-year moratorium on payment of statutory dues by telecom companies as well as allowing 100 per cent foreign investment through the automatic route. Briefing reporters on the decisions taken by the Cabinet, Telecom Minister Ashwini Vaishnav said nine structural reforms for the telecom sector were approved. The definition of AGR, which had been a major reason for the stress in the sector, has been rationalised by excluding non-telecom revenue of telecom companies.
The IPL broadcast rights -- internet, TV and mobile -- are expected to fetch the BCCI a massive sum of around Rs. 20,000 crore-plus.
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
Bharti Airtel, Reliance Jio, Vodafone Idea said the Railways should not be permitted to offer commercial services like Wi-fi and voice and video communication.
In a curious move, Reliance Industries' (RIL) executive director and Mukesh Ambani's trusted aide PMS Prasad pledged 600,000 shares of the company last month, which is 93.75 per cent of the total shares he owns in RIL. Prasad owned a total of 640,000 RIL shares and his compensation stood at Rs 11.15 crore in FY20.
The liquidity-fuelled rally will continue for some time, however, fundamentals are getting stretched.
The company will unfold its business plans going forward even as shareholders are seeking answers to the performance of the company's oil and gas exploration and production business.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Reliance Industries Chairman Mukesh Ambani on Monday said his company is open to joining hands with Bharti Airtel for improving telecom network for 4G services in Punjab.
Jio has been allocated spectrum in 28 gigahertz to run 5G trials.
The company at present provides monthly mobile services at starting price of Rs 24 without data, and plans with data service starts from Rs 33 onward. It did not disclose the quantum of hike.
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.
Other major gainers were Tata Steel, Yes bank, Axis Bank, Maruti Suzuki, Tech Mahindra and TCS -- rising as much as 7.09 per cent.
Six leading designers showcased their fabulous lineup at the Lakme Fashion Week 202O.
Amazon's fresh investment in its India entities come at a time when the Seattle-based firm has faced losses in several of its business entities in India, such as seller services, wholesale, transportation services and digital payments, for the 2018-19 financial year.
The deal, which is expected to close in the next four to five weeks, will give exit to investors Alibaba, Abraaj Group and IFC. The parties are awaiting approval from the Competition Commission of India (CCI).
Chief Economic Adviser K V Subramanian on Monday said India is likely to post current account surplus in the current financial year as there is moderation in import due to under heating of the economy triggered by the COVID-19 crisis. This crisis is different from what the world witnessed during the taper tantrum, he said while addressing a virtual conference organised by industry body CII. Taper tantrum phenomenon refers to the 2013 collective reactionary response that triggered a spike in US treasury yields, after investors learned that the US Fed was slowly putting brakes on its quantitative easing (QE) program.
He urged every investor to follow his steps and invest in Gujarat.
Complimenting West Bengal government, Mukesh Ambani said, "We have got all the approvals in a time-bound manner."
Commercial services may start in Mar-Apr next year
The digital audience knows the difference between healthy suggestions, which are welcome, and a downright breach of privacy, which is abhorred.
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