The sharing agreement will provide more bandwidth for RJIL to provide its high-speed 4G services.
Bharti Airtel is the largest mobile phone operator in the country.
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
Events to keep an eye out for...
Reliance Jio Infocomm Ltd is expected to use between 30,000 and 45,000 mobile towers when it starts offering 4G services in the third or fourth quarter of this financial year, according to Credit Suisse.
Spectrum auction on Thursday entered the 10th day of bidding and started off from Rs 61,091.83 crore (Rs 610.91 billion) in terms of value.
Telecom companies have put in bids worth Rs 58,332 crore (Rs 583.32 billion) in spectrum auction at the end of 49 rounds on the 7th day of bidding on Monday.
The auction started off with the 36th round this morning. At the end of 35 rounds on Friday, bids worth around Rs 54,600 crore had been received by the government.
Telecom operator Reliance Jio Infocomm has arranged credit facilities worth $1.5 billion with lenders, including Bank of America and Barclays, to refinance existing loans.
The Aam Aadmi Party has demanded the dismissal of Telecom Minister Ravi Shankar Prasad alleging a conflict of interest that has prevented him from issuing a notice to Mukesh Ambani's Reliance Jio on the 4G issue, a charge vehemently denied by Prasad who said he never gave advice or appeared for the company.
Airtel has pitched for a hike in mobile and data tariffs.
Bharti Airtel customers can now avail its 4G data plans starting from Rs 450, down 31 per cent from Rs 650 earlier in Bengaluru, Kolkata, Pune and Chandigarh circles.
Says spending $3 billion every year on networks alone
India's second-largest telecom firm Bharti Airtel on Tuesday reported a net profit of Rs 1,134 crore for the September 2021 quarter, and said it is witnessing strong business momentum with growth in 4G customers and increase in mobile ARPU. This is against a loss (attributable to owners of the parent) of 763.2 crore during the year-ago quarter, the company said in a statement. Its consolidated revenues for the second quarter of FY21 stood at Rs 28,326.4 crore, up 18.8 per cent year-on-year (on a comparable basis) and 13 per cent y-o-y on a reported basis, it added.
Government's resolution on the contentious issue of spectrum usage fee seems to have found favour with telecom operators with none of them withdrawing their application from airways auction on the last day on Monday.
Loop Mobile has debt of Rs 400 crore (Rs 4 billion), which is likely to be included in final deal size.
Airtel offers 4G service in 1800 Mhz band frequency while other companies are yet to roll out their services.
Mukesh Ambani said the Digital India initiative has the potential to transform the lives of 1.2 billion Indians using the power of digital technology.
The company has reportedly been in the process of shutting its CDMA business and shifting its subscribers to 2G, 3G and 4G networks.
The telecom spectrum auction entered the 33rd round of bidding today after starting off from the Rs 52,689 crore (Rs 526. 89 billion) mark this morning.
The amount generated so far is about 86 per cent of what the 3G auction fetched in 2010.
According to rating agency Fitch, India can in the long run support five-six profitable telecom operators.
Most Asian stock markets steadied on Wednesday.
Gains were led by index heavyweights with Reliance Industries contributing the most.
The BSE Midcap and the BSE Smallcap indices pared all intraday gains to end 0.3% and 0.5% lower
Bharti Airtel, Vodafone, Reliance Jio Infocomm and five other telecom firms will battle it out at the spectrum auction tomorrow, from which the government expects to garner at least Rs 11,300 crore (Rs 113 billion).
The auction will help operators augment expansion of high-speed 4G voice and data services in the world's second largest mobile phone market.
Nifty is likely to remain under selling pressure unless and until it breach the 7,700-7,720 levels on closing basis.
In the broader markets, the BSE Midcap and Smallcap indices extended gains and were up over 1% each
Spectrum auction took off on Wednesday from Rs 58,980.29 crore (Rs 589.80 billion) mark with demand for the premium 900 Mhz band seemingly tapering off at the end of 56 rounds.
Inflation is down, growth is headed for recovery. RIL and subsidiary Jio are on an upswing. However, stressed loans and impending job losses are the dark clouds, says Devangshu Datta.
Investor sentiment got a boost following remarks from the Russian President Putin that allayed fears of an imminent military conflict in Ukraine
Telecom companies put in bids worth a total of about Rs 45,000 crore (Rs 450 billion) on the second day of the auction on Tuesday, with premium 900 Mhz band in Delhi, Mumbai and Kolkata witnessing continuing demand.
Rationalisation of reserve prices in the ongoing spectrum auction helped the government to get Rs 40,000 crore of bids on the opening day.
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore (Rs 110 billion) received in 2013.
The financial year ending Saturday saw such big-ticket events that set the directional tone for the country's business journey.
With Airtel and RCom already having launched their special offers for post-paid customers, and RJio around the corner, Vodafone makes its move with Red.
Prime Minister Narendra Modi is likely to urge Tim Cook to begin manufacturing its prized iPhones in India.
Jio's disruptive strategy, including free voice services and data at throwaway rates, apart from offering all services free for six months, triggered a consolidation in the telecom sector.
Sensex, Nifty end the day in red on unfavourable cues from global markets.
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