Telecom Minister Ravi Shankar Prasad had told Parliament in November that Bharti Airtel, Vodafone Idea and other telecom companies owe the government as much as Rs 1.47 lakh crore in past statutory dues.
Adani Data Networks said it plans to create a private 5G network for its operations. However, it acquired the spectrum in the last 5G auction alongside three telecom companies. Subsequently, it was granted a unified licence for access services, which enables it to provide telecom services in the country.
The government believes firms which are subject to China's laws could be forced to hand over information to Beijing's security services.
Billionaire Mukesh Ambani's Reliance Industries on Friday reported a 43 per cent jump in its September quarter net profit as its businesses from oil to retail fired on all cylinders, growing both sequentially and on a year-on-year basis. Net profit of Rs 13,680 crore, or Rs 20.88 per share, in July-September compared with Rs 9,567 crore, or Rs 14.84 a share, in the same period a year back, the company said in a statement. While better realisation and a sharp rise in crude oil prices benefited the old-economy business, retail saw footfalls at stores reach pre-Covid levels and per user earning from telecom business rose.
India's largest firm Reliance Industries has initiated work-from-home for its staff while keeping open consumer-facing businesses of hospital, retail stores and telecom with a minimum workforce amid increasing number of Covid-19 cases in the country. Chairman and Managing Director Mukesh Ambani will hold a meeting almost every third day to take stock of the impact of novel coronavirus (covid-19) outbreak on his employees and business, officials said.
The junior Ambanis - Anmol and Anshul - were inducted on the board to respect the wishes of the shareholders who during the recent AGM asked the management to get fresh blood into the company by bringing them on board.
Telecom regulator TRAI has imposed cumulative penalty of Rs 50 lakh on nine mobile operators for failing to meet quality of service benchmarks in the second quarter ended June 2013, official sources said.
Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) has surprised the street with a better than expected performance in its oil-to-chemicals (O2C) division in October-December 2024 (Q3FY25). RIL executives attributed it to favourable feedstock sourcing and higher volumes. However, they also listed cost optimisation and other measures.
India and the visiting US officials have decided to hold a wrap-up session on Saturday morning to conclude the three-day talks on the proposed bilateral trade agreement, government sources said. They said the discussions are at a "very" early stage.
On India, the chart showed that the country charged 52 per cent tariffs on the US "including currency manipulation and trade barriers," and America will now charge India "discounted reciprocal tariffs" of 26 per cent.
Bharti Airtel on Monday reported a 168 per cent year-on-year rise in consolidated net profit to Rs 3,593 crore for the September quarter, and the company unveiled top-level changes, including Gopal Vittal moving into the role of executive vice chairman on January 1, 2026. India's second-largest telco - that competes with Reliance Jio and Vodafone Idea in the Indian telecom market - clocked quarterly revenues of Rs 41,473 crore, 12 per cent higher than the year-ago period, aided by strong momentum in India and growth in Africa.
The 4G service may use Reliance Retail, with a surging customer base, as the launch pad
Reliance is leveraging the technological change of building a virtualised 5G network which would see the current hardware-dependent networks shift to software-centric platforms.
The incumbents Bharti Airtel and Vodafone Idea recorded adjusted gross revenue of Rs 10,701.5 crore and Rs 9,808.92 crore, respectively, during the quarter.
The company raised Rs 53,124 crore through a rights issue and sold nearly 33 per cent stake in Jio Platforms Ltd - the firm that houses telecom business and apps - to likes of Facebook and Google for Rs 152,056 crore.
Reliance Industries has put together an aggressive plan to build its drone business which includes expanding manufacturing capacity five-fold, participating in the new drone production linked incentive scheme, and experimenting with limited logistics payloads to deliver goods. The target is to become a key player in the expected $5 billion market in India by the end of the decade. The drone business is being carried out through a Bangalore-based start up, Asteria Aerospace, in which Reliance has taken a majority stake. Asteria is a subsidiary of Jio Platforms Ltd.
Former Telecom Minister A Raja had "misled" then Prime Minister Manmohan Singh regarding policy of first-come-first-served which was to be followed for allocation of 2G spectrum, Central Bureau of Investigation on Monday told a special court.
Asia's richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fourth straight year in a row while his children earned a sitting fee and a commission for being on the board of India's most valuable company. Ambani, 67, had capped his annual remuneration at Rs 15 crore from financial year 2008-09 (April 2008 to March 2009) to 2019-20 (FY20); and since FY21, he opted to forego his salary, due to COVID-19 pandemic, until the company and all its businesses were fully back to their earnings potential.
Shareholders of industry giants Adani Enterprises, Reliance Industries, and Tata Motors - the latter two are part of the Sensex - will decide on combined related-party transactions of more than Rs 2.68 trillion proposed for this financial year and later. Related-party transactions for BSE 500 companies touched at least a six-year high of Rs 42.1 trillion in FY23, the Capitaline data shows. The Rs 42.1 trillion includes related-party transactions both at balance-sheet and profit-and-loss levels.
The Department of Telecom (DoT) has decided to do a special audit of Reliance Communications' (RCom) telecom licence companies.
After monetising Jio Platforms -- which houses the firm's telecom arm and digital ventures, richest Indian Mukesh Ambani is looking to rope in investors in the retail business.
Manufacturing companies have been outperformers on the bourses in the current year, leading to a rise in their weighting in the benchmark index. Companies in sectors such as FMCG, automobile, pharmaceuticals, metals, cement, and agrochemicals now account for 25.43 per cent of the Nifty 50 index, up 88 basis points from 24.55 per cent at the end of December last year and a record low of 23.1 per cent at the end of CY20. The manufacturing sector is now dominated by FMCG majors such as Hindustan Unilever, ITC, Asian Paints, Nestle, and Britannia, accounting for 45 per cent of the combined market cap of all manufacturing companies in the index.
Reliance Retail Ventures Ltd, run by India's richest man Mukesh Ambani, on Tuesday raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA), taking the total fundraise to Rs 37,710 crore in less than four weeks.
Ambani said Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue.
Investment by US PE firm KKR will add fire to Ambani's battle for dominance in the retail market that is also being eyed by Jeff Bezos' Amazon and Walmart's Flipkart.
Sources say companies will have to keep the market share of merged entities below 50% in all circles
Need for much more investment; sector would like govt help
Based on industry estimates, telecom companies, including Bharti Airtel, Reliance Jio, Vodafone Idea and BSNL, are expected to invest over $10 billion on buying 5G telecom equipment in the next five years as they transition from non-standalone networks to standalone 5G networks.
When, recently, Bharti Airtel announced a Rs 21,000 crore rights issue, analysts pointed out that its structure was similar to that of Reliance's issue in June 2020. One similarity is that shareholders in both companies have to pay only 25 per cent of the money on application. The rest is to be paid in two tranches. In Bharti Airtel's case, it is within 36 months; in Reliance Jio's, it is within 17 months.
If Reliance Jio resets the rules of the game with low voice and data tariffs, most incumbents will find themselves back to square one.
Billionaire Mukesh Ambani's Reliance Industries has signed a pact to invest an undisclosed amount in a giant petrochemical hub being built in the UAE. The oil-to-telecom conglomerate will join the recently-formed Ta'ziz joint venture of Abu Dhabi state energy giant Adnoc and state holding company ADQ for developing the Ruwais Derivatives Park in western Abu Dhabi. A company statement said an agreement has been signed for Reliance to invest in the project but did not give details. Unconfirmed reports put the investment at about $1.5 billion.
Billionaire Mukesh Ambani-run Reliance Industries Ltd's retail arm on Thursday raised Rs 9,555 crore from Public Investment Fund (PIF) of Saudi Arabia, taking total fundraise in the last two months to Rs 47,265 crore. PIF will take a 2.04 per cent stake in Reliance Retail Ventures Ltd (RRVL), the Indian firm said in a statement. The investment values RRVL, the retail arm of Reliance Industries Ltd, at a pre-money equity value of Rs 4.587 lakh crore.
Bharti Airtel chairman Sunil Mittal on Thursday said he had reached out to Vodafone's Nick Read after bold telecom reforms were announced by the government and will also speak to RIL's Mukesh Ambani, as the telecom czar vowed to take the lead in bringing the industry together to unleash India's telecom dream. Mittal exhorted the industry to collaborate in areas such as infrastructure sharing to reduce costs but vehemently ruled out possibility of any cartelisation among players. Amid reports of its potential tie-ups with handset makers to counter Jio's upcoming ultra low-cost smartphone, Mittal said Airtel is in a state of "readiness" on an affordable smartphone "should a need arise".
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.
Reliance Industries Ltd on Friday reported a 7 per cent drop in its June quarter net profit as retail business got hit by the second wave of COVID infections.
Together with the firm's partly-paid shares that were issued in the recent rights issue and are traded separately, the company had a combined m-cap of Rs 13.5 lakh crore or over $181 billion.
Indian telecommunications companies are ringing louder. Bharti Airtel and Reliance Communications are among the big league of gloal telecom companies.
TRAI may recommend the DoT to levy one-time non-refundable fee of Rs 50,000 per operator for each service area in which they opt for spectrum sharing.
After subdued earnings in the first half amid global headwinds, India Inc is taking a cautious approach on their capital expenditure (capex) for the second half of the financial year ending March 2025, according to management commentary. Minutes from the October monetary policy meeting show the Reserve Bank of India's (RBI's) optimism about private investments picking up.
Reliance Communications is in advanced negotiations with three top US-based telecom tower companies for divesting a strategic 26 per cent equity stake in Reliance Telecom Infrastructure.
