Institutional shareholders of Reliance Industries Limited (RIL) are expecting big-ticket announcements from the company, including timeline for listing of its telecom and retail subsidiaries. They expect this to unlock value in the company, which has seen a sharp fall in market valuation on Friday. This is due to windfall tax imposed by the Centre on refiners and oil producers.
To make the scheme attractive, the government has announced a rate structure wherein the operators may take the optical fibre on lease and provide broadband connectivity to customers.
The telecom companies have billed the subscribers for the period of communication blockade which began on August 5 when the Centre abrogated provisions of Article 370 and split Jammu and Kashmir into two union territories.
'Spectrum payment to push up telcos' debt to Rs 3.5 lakh cr'
WhatsApp's advantage is that it is the first app millions of Indian check first thing in the morning and innumerable times during the day and night.
These customers will be unable to meet the lowest recharge requirements for Jio, meaning they will either exit the market or migrate to BSNL/MTNL.
Live commerce, quick commerce, group buying, WhatsApp commerce, dukaantech have made their mark.
'We are in the middle of an unprecedented SIP revolution.' 'Monthly inflow through SIPs will be Rs 15,000 crore to Rs 20,000 crore soon.' 'Traditional avenues of Indian savings like bank fixed deposits, gold or real estate are no longer attractive to invest.'
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.
Mukesh Ambani's Reliance group has struck acquisition deals worth $4.2 billion with a dozen companies in just two years to expand its retail business. The latest purchase was of a majority stake in Justdial for Rs 3,497 crore. Elaborating on his acquisition strategy a few weeks ago during the AGM, Ambani stated that one of the key planks would be to acquire businesses that enhanced Reliance's offerings and experiences to customers and that they would be both physical and digital.
Ambani then shed light on what a sport needs to grow. She said a holistic ecosystem needs to be developed around it and opportunities should be presented at the highest level.
Text messaging services of all telecom operators also remained suspended in Lucknow and some other parts of UP. In Assam, services were restored 10 days after being banned.
The words 'industry', 'industrial development', 'jobs', and 'employment' have been ringing with higher frequency since Mamata Banerjee stepped into her third term with landslide victory after a high-octane election last year. "Our government's next target is industrial development," the chief minister (CM) had been heard stating at different public meetings in the past few months - perhaps setting the tone for the sixth edition of the Bengal Global Business Summit (BGBS) slated for later this month. Investor summits by any state are about intent, big numbers, and tall claims. Yet in competitive federalism, its importance as a marketing tool is undeniable.
The fixed line broadband will offer "ultra high-definition entertainment on large screen TVs, multi-party video conferencing from your living room, voice-activated virtual assistants, virtual reality gaming, digital shopping, immersive experiences," Ambani said.
In a meeting on Thursday evening, the RCom management, led by CEO Punit Garg, requested the bank representatives to release Rs 260 crore it received as I-T refund so that it could repay the dues to Ericsson.
The strong correlation between its sales (revenue or turnover) and crude oil prices (average for the financial year) suggests that Ambani may be proved right.
The process of switching off the 3G network has already started with Kolkata in the recent-concluded June quarter. By September, the shutdown will be affected in 6-7 more circles and between December and March the entire 3G network would be shut down.
Vodafone Idea on Wednesday said its board has approved availing the four-year spectrum payment moratorium being offered by the government as part of its relief package for the telecom sector. The other options offered in the Telecom Department's notification will be considered by the board of directors within the stipulated timeframe, it said in a regulatory filing. "...we wish to inform you that the Board of Directors of the company has approved the exercise of the option of deferment of the company's spectrum auction instalments for a period of 4 years (October 2021 to September 2025) in accordance with ...the notification dated 14 October 2021 issued by the Department of Telecommunications (DoT) to the company," it said.
At present 100% FDI is allowed, of which up to 49% investment in a company can be done through the automatic route
The company is targeting 100 million subscribers in shortest possible time, RIL Chairman Mukesh Ambani said
Chinese telcos hold 60-100 MHz of spectrum, while Indian companies hold 13-15 MHz of spectrum.
Some buyers are insisting on a clause in the agreement that the whole deal hinges on physical verification at a later date with some part of payment kept in escrow.
The company has made payment in compliance with Telecom Department's instructions for self assessment, Mittal said, adding that the Supreme Court had not mentioned specific amounts.
Footfalls will invariably come down to a trickle even after lockdown restrictions go away, and the only way to prevent someone else from poaching your consumer is to go down to the consumer herself. Consumers will prefer products and services to be delivered to their doorstep, hygienically and safely.
Stating that the forthcoming elections will delay the reform process and hurt growth, international rating agency Moody's on Monday said it expects growth to pick up to only 5.5 per cent in FY15.
This season, the nature of the advertising game has changed dramatically with TV and digital rights going to different entities.
The Harvard alum has known the Yale alum for ages, but hit it off recently.
Reliance has significant investments in telecom, consumer retail and media businesses in India.
With RIL's market capitalisation crossing the Rs 11-trillion mark on Friday, Ambani is ahead of Google co-founders Larry Page and Sergey Brin, the 10th and 11th richest, respectively, and behind Zara founder Amancio Ortega on the Forbes Real-time Billionaires List.
On the volume side, the number of M&A and PE deals was 110 in July, 15 per cent lower from 130 in July 2018.
American online major Amazon seems to be almost doubling its India investment going by the company's recent announcement during Prime Minister Narendra Modi's state visit to the US. From the time the Seattle-headquartered company started its India journey in 2013, its investment into the country is pegged at $11 billion or roughly $1.1 billion a year. By committing a fresh round of $15 billion by 2030, the Jeff Bezos-founded company's investment would go up to more than $2 billion a year over the next seven years.
From promoters losing their firms to consumers realising there are no free lunches, 2019 was a year of getting real,says Shailesh Dobhal.
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.
Most of the hirings are, however, in the entry or junior level.
Rediff readers tell us what has changed in the last 10 years for them.
The device is already great. But its real capabilities will be unleashed after the iOS 11 is rolled out, says Abhik Sen.
The amount is penalty charged on the Mukesh Ambani-led company for failing to develop the C-66 plot in G Block, named as One BKC.
India Inc is gearing up for a slugfest this year and from tech to paints, new battlegrounds are emerging, observes Indrajit Gupta, co-founder, Founding Fuel.
Discussing the prospect of more reform earlier this month, telecom minister Ashwini Vaishnaw announced a delay in the 5G spectrum auction. India's telecom sector regulation has to be benchmarked with the global best, he said. It's another matter that many countries have either introduced or are about to roll out 5G services that will enable cutting-edge tech in diverse areas. For India, too, it will mean a lot for healthcare, robotics and unleashing a new chapter in Digital India perhaps.
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