RIL's standalone net profit rose one per cent quarter-on-quarter
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.
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.
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.
Engage, don't entice, advises advertising guru Sandeep Goyal.
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.
The government will set up a centre of excellence for visual effects and gaming with help from the Indian Institute of Technology-Bombay.
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.
Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
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.
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.
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,
CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.
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.
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.
Reliance Industries on Friday reported more than doubling of its March quarter net profit to Rs 13,227 crore as improvement in petrochemical and consumer business countered continued weakness in refining business.
Jiophone Next will be available from Diwali for Rs 6,499 per unit for customers wanting to buy the smartphone without financing option, Jio and Google said in a joint statement on Friday. Jio is also giving a finance option for the Jiophone Next where users can make an upfront payment of Rs 1,999 and pay the rest in easy monthly instalments spread across 18-24 months, the company said in a statement. "This is the first time that a phone in the entry-level category is getting a financing option.
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
Thursday's ruling does not affect any decision on Russian and Belarusian athletes' participation at the Paris 2024 Olympics which the IOC will take at a later date.
RJio's aggressive plans will lead to significant impact on listed companies in this space
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.
Amazon Prime leads the race to buy digital rights for Bollywood blockbusters with Hotstar and Netflix trailing far behind.
The Prime Minister and and President gracing ads for Reliance Jio and Bandhan Bank have put the spotlight on this trend.
Under the UASL norms, spectrum is linked to licences, and a particular band of radio wave is restricted to be used in a particular technology
Total income from operations, however, dipped 27 per cent to Rs 68,261 crore.
The price of diesel sold to bulk users has been hiked by about Rs 25 per litre in line with a near 40 per cent rise in international oil prices, but retail rates at petrol pumps remain unchanged, sources said. Petrol pump sales have jumped by a fifth this month after bulk users like bus fleet operators and malls queued up at petrol bunks to buy fuel rather than the usual practice of ordering directly from oil companies, widening the losses of retailers. Worst hit are private retailers like Nayara Energy, Jio-bp and Shell, who have so far refused to curtail any volume despite a surge in sales.
Refining and petrochemicals contribute around 90 per cent to RIL's overall revenue and profit.
She's living her best days as the newest Ambani bride-to-be.
As part of this strategy, the e-commerce major has launched a programme to manage the entire business-to-business inventory supply and management for kirana stores in three cities in Karnataka.
'If you are going to have only a handful of telecom players on whom the entire dream of Digital India rests, it's important they are financially sustainable.'
Flipkart, the e-commerce company owned by Walmart, is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026, instead of this year, according to people familiar with the matter. The firm might consider listing in the US or any other geography, including India. The company, which counts the likes of Amazon and Reliance's JioMart among its competitors in India's burgeoning e-commerce market, had also contemplated launching an IPO in 2022-2023.
The Indian Navy has expressed reservations in vacating 100 Mhz of the spectrum, proposed to be sold in the tender expected next year, sources said. This could delay the Centre's plans to proceed with the 5G auctions in 2022. A department of telecom (DoT) official said, "The Indian Navy is showing reluctance in vacating the spectrum from the 3.3 GHz-3.4 GHz band that it is using. "Unless there is some traction with them on this issue, we can't seek consultation from TRAI." The 3300 MHz-3600 MHz (or 3.3GHz-3.6GHz) will be auctioned for the first time in the proposed 5G auctions, likely next year.
The new proposals will lead to complex processes and huge costs for telecom service providers, without any substantial benefits: COAI
Just to promote govt's policy of Make in India, BSNL said, it cannot afford to procure sub-standard equipment from inexperienced companies, not having proven technology. BSNL complained that when competitors were procuring world-class 4G equipment from experienced vendors, why should BSNL be compelled to procure locally.
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.
Board of Control for Cricket in India's Chief Executive Officer Rahul Johri says the revenue generation from the upcoming Indian Premier League's media rights auction could be "historic".
Feedback from telecom members indicated a 10 per cent increase in traffic, but no fears of choked networks. Telcos currently use 65-70 per cent of the network capacity. In other words, they have enough additional capacity to handle the new pressure without clogging the system.
Ambani has unveiled an over Rs 1.8 trillion capex plan for the next three years.
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