The Tata group on Thursday launched its super app, Tata Neu, bringing all its brands in one platform as it seeks to play a major role in the Indian ecommerce space currently dominated by the likes of Amazon and Flipkart.
'If they are taking marquee locations and, say, are paying 50 per cent higher rent, those locations will see a spurt in rates as well.'
Meaningful market share would go to those who have the distribution strength to push their products, such as banks.
Mukesh Ambani has reclaimed the top position on the 2023 Forbes list of India's 100 Richest with a net worth of $92 billion. The fortune of infrastructure magnate Gautam Adani, who rose meteorically to overtake Ambani as India's richest person for the first time last year, has slipped to the second position. Adani's net worth, which includes that of his family, fell by a whopping $82 billion to $68 billion, after a report by US short-seller Hindenburg Research in January sent his group's shares tumbling.
Its success script: Investing more in local content ecosystem; growing its partnership footprint.
If the apex court decides on a 15-year repayment tenure, it would pose a grave challenge for the debt ridden VIL.
Pointing out to the 133-acre Dhirubhai Ambani Knowledge City on the outskirts of the financial capital, he said there is huge realty play opportunity that RCom's erstwhile corporate headquarters possesses, and pegged the potential value creation at the site at Rs 25,000 crore.
Apart from digital advertising revenue, both companies want to reach out to the 'next billion' Indian customers. After all, around half of the 1.3 billion population is still not on the net and this represents a challenge as well as an opportunity.
'We are targeting the 5G tender around January-March 2023.'
Banks have Rs 10 trillion in stressed assets - Rs 7.8 trillion of bad loans and Rs 2.2 trillion of restructured ones.
Sale of Apple's iPhone 15 is estimated to have registered a 100 per cent growth compared to that of the iPhone 14 series on the first day with high demand for made-in-India iPhone 15 and iPhone 15 Plus models, according to industry sources. Apple has for the first time made available the 'made-in-India' iPhone on the same day it started selling the devices in the country and other parts of the globe. "Till evening, 6 pm IST, the sales of iPhone 15 series have recorded over 100 per cent growth on Day 1 compared to the sale of iPhone 14.
RIL's standalone net profit rose one per cent quarter-on-quarter
The company expects net proceeds of Rs 53,036.13 crore from the rights issue that opens on May 20 and closes on June 3.
Chinese mobile brands are deeply entrenched in the Indian market. A move to bar them may send a bold diplomatic message. But its cost for the local industry is anybody's guess. In the event that Chinese brands face curbs, two handset makers - Samsung and Apple - squarely stand to gain.
Most of the session's gains for both the indices were wiped out as investors rushed to book profits ahead of F&O expiry on Thursday and also due to concerns over stretched valuations.
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
An emergency arbitration hearing between Amazon and retail conglomerate Future Group took place last week and a verdict is expected in the next few days, according to sources.
The move comes against the backdrop of the US and some of its allies banning the purchase of Chinese telecom gear over security concerns and pressuring other countries to follow suit.
Of the 23 Indian billionaires mentioned in the Bloomberg Billionaires Index, only one saw a reduction in net worth, with the companies owned by most of them outperforming the Nifty 50 index by a big margin.
The third round of spectrum auction continued to witness aggressive bidding even after completion of seventeen rounds on Wednesday with demands for both bands of airwaves on offer continuing to pour in.
Engage, don't entice, advises advertising guru Sandeep Goyal.
An opportunity to enter a burgeoning sector at a low valuation and favourable policies are propelling some of India's largest corporate groups to scoop up drone start-ups. "Indian corporations lost the race in aerospace and space tech. "No one wants to miss the bus this time. "These are seasoned businessmen and they realise that the market cap of tech companies with problem-solving capabilities will exponentially rise in future," says Vipul Singh, CEO of Aarav Unmanned Systems (AUS).
Around 1,200 protesters demanding scrapping of the amended citizenship act were detained on Thursday when they defied prohibitory orders imposed by the Delhi Police in Red Fort area. Internet, voice and messaging services by Airtel, Vodafone, Idea and Reliance Jio were suspended in parts of Delhi-NCR, in perhaps for the first time that the national capital experienced such restrictions.
In March this year, Worldline India launched Vabox (Voice Alert Box): merchants will now get instant audio alerts on the settlement of UPI (Unified Payments Interface) payments via QR codes in languages of their choice when customers check out. "They needn't worry whether the amount has been credited to their account," says Gulshan Pruthi, the firm's executive vice-president. The French payments giant will roll out 500,000 Vaboxes in the initial phase.
Lenders and shareholders of Reliance Industries Ltd (RIL) will meet on May 2 to demerge the firm's financial services business. This is expected to create a big player in segments including the NBFC (non-banking financial company) space with net worth of Rs 25,851 crore as of March 2022. According to the plan, RIL shareholders will get a share in the demerged entity for each one held in the company.
Telecom major Reliance Communications plans to monetise its real estate assets as it looks to pare debt.
About Rs 52,500 crore (Rs 525 billion) has been offered as of the fourth day of the ongoing wireless spectrum auction on Thursday, with metros like Delhi seeing renewed demand for airwaves.
The government will set up a centre of excellence for visual effects and gaming with help from the Indian Institute of Technology-Bombay.
Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
There is immense pressure on Biyani to go ahead with the RIL offer after FRL defaulted on its interest payments of Rs 100 crore on July 22.
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said. In a volatile trade, the 30-share BSE Sensex declined 202.36 points or 0.31 per cent to settle at 64,948.66.
If Vodafone Idea shuts, a bulk of the high-paying ARPU customers will move to Airtel as Reliance Jio does not have a comprehensive postpaid offering like it, and have aggressively preferred to play in the prepaid market. The bulk of Vodafone Idea customers use 2G phones and only a few of them use data. It will be easier for Airtel to woo these customers as they can shift seamlessly to its 2G network without changing handsets or even SIM cards,
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
What worked for Airtel was that its data traffic growth was 13 per cent sequentially and its average data usage was even higher than Jio's at 11.9 gigabyte per month per user.
CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.
After initial success, data use is stagnating and getting consumers to spend additional money for high-speed internet is proving to be difficult for telcos.
India Inc raised $2.78 billion from overseas markets in October this year, up 44 per cent from a year ago, according to the Reserve Bank data released on Friday.
Leading microchip providers Qualcomm and Intel say the chip shortage might last anything between four months to a year, perhaps even two years, depending on the various product categories - mobile devices, ICE, electric vehicles, appliances, data centres. Prakash Mallya, MD, Intel India and vice president, sales and marketing and communications group, said the spike in demand was huge, and cut across segments from PCs, phones, appliances and auto leading to the shortage.
RJio's aggressive plans will lead to significant impact on listed companies in this space
The Prime Minister and and President gracing ads for Reliance Jio and Bandhan Bank have put the spotlight on this trend.
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