The network has been built by six telcos to handle high bandwidth demands of emerging technologies and applications.
The company will raise $1.8 billion for the under construction and contracted portfolio of 12 GW, which includes the country's first manufacturing-linked solar power plant of 8 GW.
L&T was the top loser in the Sensex pack, dropping 4.99 per cent, after the engineering major posted a 45 per cent decline in consolidated net profit for the September quarter. Titan, ONGC, Axis Bank, HUL, NTPC, M&M and HDFC were the other major laggards, shedding up to 3.32 per cent. NSE Nifty fell 58.80 points or 0.50 per cent to 11,670.80.
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For India to invoke "sovereign" or "state" immunity to safeguard its foreign assets, which are under threat of getting seized in the intensifying legal battle with Cairn Energy, may come with several riders. Experts point out that the Indian government has to first satisfy the French court that the properties or assets that are under consideration are being used to dispense the state's sovereign functions.
The Sensex was mainly dragged by Tata Motors, ICICI Bank, Bharti Airtel and Reliance Industries -- shedding as much as 4.60 per cent.
Kishore Biyani led-Future Group has filed a caveat before the Delhi high court requesting it to be heard if any plea is filed by e-commerce major Amazon over its Rs 24,713 crore deal with Mukesh Ambani-led RIL. Anticipating a move by Amazon, which had got an interim arbitration award in its favour, putting the announced deal on hold, the Future Group firm has moved the Delhi high court.
Indian Olympic Association president Narinder Batra was elected a member of the International Olympic Committee, on Wednesday. Batra was elected to the prestigious seat during the IOC Session in Lausanne as one of the 10 new members, after garnering 58 votes and four against.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
There has been an exponential increase in the use of technology to validate financial numbers, with a greater reliance on electronic evidence, use of live videos where possible, data analytics, and project management software to overcome the physical limitations in verifying transactions and accounts.
The Centre said media reports cannot form the basis for seeking review of the judgement since it is well settled law that courts do not take decision on the basis of media reports.
India shifted gears in rejuvenating strategic ties with its major partners like the US and Russia and focused on drumming up global support for its distinct strategy in the Indo-Pacific to check Beijing's increasing muscle-flexing in the region.
The success of Anil Ambani's ambitious defence plan will depend partly on whether he can persuade government officials and international partners that he can build sophisticated equipment and partly on whether the PM can get India's notoriously slow procurement process to work, say Paritosh Bansal, Sanjeev Miglani and Promit Mukherjee.
Capital dumping is being used by foreign e-commerce firms to subsidise and engage in predatory pricing, oil-to-telecom conglomerate Reliance Industries (RIL) has told the Associated Chambers of Commerce and Industry of India (Assocham) in an internal document. The document alleges that this is leading to massive unemployment and financial distress among small merchants and kirana stores. It consists of various recommendations and proposed changes that deal with Press Note 2 of 2018 (PN 2), which RIL wanted Assocham to present to the government, according to sources.
In 2019-20, the capital expenditure of Indian Railways (IR) increased 60 per cent over 2016-17. The draft National Railways plan envisages a further increase in IR's capital expenditure, but an analysis by Business Standard shows that IR has come to depend more on borrowings and budgetary support. In 2016-17, while 11 per cent of its capital expenditure (capex) was funded by internal sources, in 2019-20 the ratio dropped to less than 1 per cent. A 2015 Committee on Restructuring Railways had flagged that over-reliance on borrowings could exacerbate the financial situation of Railways.
The reserves rose to $501.70 billion helped by a whopping rise in foreign currency assets, the latest data from the Reserve Bank of India.
Counsels for AgustaWestland VVIP chopper scam accused Christian Michel and fugitive diamantaire Nirav Modi were also the potential targets of Israeli spyware Pegasus.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Stanford University of US has commended Mukesh Ambani for his decade long support to students.
The company wants to compete against international majors in Sunil Mittal bastion.
The decision comes a month after DSport, the official broadcasters of the Pakistan Premier League (PSL) in India, stopped the coverage of the tournament in protest of the Pulwama terror attack that killed 40 CRPF personnel.
UK-based Cairn Energy PLC on Wednesday said it has agreed to drop litigations to seize Indian properties in countries ranging from France to the UK as it has accepted the Indian government's offer to settle tax dispute relating to the levy of taxes retrospectively. Meeting the requirements of new legislation that scraps levy of retrospective taxation, the company has given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the world. The government now has to accept this and issue Cairn a so-called Form-II, that will commit it to refund the tax collected to enforce the retrospective tax demand.
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.
Anil Ambani-led Reliance Group sells multiplex business to Carnival Cinemas.
Reliance Big Entertainment, a part of the Reliance ADA Group, has acquired a majority stake in Los Angeles and London-based international film sales company IM Global for an undisclosed amount.
'The reality is no one, including some of the names that have shown up in the last few weeks, have any unilateral decision-making power in this,' Facebook India MD Ajit Mohan tells Peerzada Abrar.
The lawsuit seeks an injunction to stop the entire rule from going into effect.
'The Saudis are in the driving seat in navigating the relations with India; they set its compass and calibrate its pace,' points out Ambassador M K Bhadrakumar.
'We began foolishly bragging about Saudi-Emirati investment plans as indicative of the sheikhs 'distancing' from Pakistan, including on Kashmir,' notes Ambassador M K Bhadrakumar.
"This is what this government did. Now, if you are feeding more than two and a half times the population of the United States and you are funding more than the population of the US and you're doing this pretty much anonymously and impersonally in the sense beyond the name and the detail, the bank account of the person. We're not asking anything more. There is no criteria of discrimination," Jaishankar, also a senior leader of the ruling Bharatiya Janata Party, said.
The International Olympic Committee on Thursday announced that Nita Ambani, has been elected as an individual member of the IOC, and will become India's first woman to join the prestigious body.
Budget has already bombed at the box office and passing it without a revisit will be a mockery of the exercise though any modification may be short lived and perfunctory, observes V Ranganathan.
ONGC was the top gainer in the Sensex pack, rallying over 13 per cent, followed by HCL Tech, Hero MotoCorp, NTPC, TCS, M&M, Infosys and Maruti. NSE Nifty soared 306.55 points, or 3.21 per cent, to 9,859.90.
While the company insisted it had enough spectrum across circles, analysts said the company might soon need to acquire some spectrum to ensure uninterrupted service.
