Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
Milk booths by Amul and Mother Dairy, a Kumbh phone by Reliance Jio, Dabur's toothpaste dispensers are among the many initiatives by brands steadying for a stint on haloed ground.
According to sources in the agency, the counsel had been briefed about its stand which includes informing the apex court about 'certain moles' in the probe agency who were providing documents to people outside.
The overall wireless subscriber base increased to 114 crore at the end of June
Vodafone-Idea (Vi) has said the key hurdle it faces in raising fresh funding, despite interest from investors, is the 'pricing situation' which is also the reason why it has asked the Department of Telecommunica-tions (DoT) for another extension of the moratorium on payment of spectrum instalment by one more year. Responding to a question during an analysts' call on Friday after its quarterly results on the reason for the delay in fund-raising nine months after it was announced, CEO & MD Ravinder Takkar said: "We are in discussions with investors. There is continued interest in investing in the telecom sector in the country. "The biggest hurdle is that the overall industry is under stress because of the pricing situation." He said that once tariffs go up, it will create a significant amount of confidence.
10 analysts estimated RIL's consolidated net profit at Rs 11,256 crore and nine analysts estimated revenue at Rs 1.5 trillion.
Experts attribute this trend to a combination of end of capital expenditure cycle, increased automation, RIL's preference for time-bound labour contracts, and telecom and retail's outsourced human resource model.
Bharti has been expanding its spectrum portfolio and now owns 4G data across all 22 circles in India
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
Across the world, there are around 150 trials on 5G currently going on and India has lagged behind. The government has now formed a committee which will look exclusively at developing a model for conducting 5G field trials, reports Kiran Rathee.
Anil Ambani-led Reliance Communications on Tuesday said it may sell 26 per cent stake in the company, and also list its telecom tower subsidiary Reliance Infratel, to become debt free.
Denial of interconnection "appears to be with ulterior motive to stifle competition and is anti consumer", Trai said.
Bankers said as part of its debt reduction plan, Canada's Brookfield-sponsored India Infrastructure Trust acquired a pipeline for Rs 13,000 crore from East West Pipeline Ltd, an arm of Reliance Industries Holding Private Ltd, and all the liabilities are now off the subsidiary's books.
Vodafone and Bharti have pointed out that, for data, their revenue realisation should be at Rs 30-35 per GB for them to cover their costs as opposed to the current figure of over Rs 11 per GB. But Jio has suggested a gradual increase to Rs 15 per GB and then maybe to Rs 20 per GB after six to nine months.
RCom had net debt of about Rs 40,222.6 crore at the end of June 30.
'Spectrum payment to push up telcos' debt to Rs 3.5 lakh cr'
The effective cost of the fully made-in-India phone will be zero, as against the minimum Rs 3-4.5k cost for a smartphone, Ambani said.
The court said a 'scam was created when there was none'.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
Investors brace up ahead of the key macrodata- IIP and CPI numbers due to be unveiled tomorrow.
Reliance Communications, India's second-biggest mobile operator, has decided to demerge its telecom tower business -- Reliance Infratel (Rel Infra). The company's board has approved a proposal to restructure the ownership of the tower firm to help create an independent tower company.
'Unless cash has ceased to be king, the issue is the same in the aviation, telecom and ecommerce sectors: Sustainability,' notes T N Ninan.
The brokerage reduced its target price for the company to Rs 995 per share from Rs 1,350 apiece. Credit Suisse said RIL's liabilities increased from $19 billion to $65 billion in four years.
Zee and Star, the two largest media companies in India, are undergoing some radical ownership changes. What could it mean? Vanita Kohli Khandekar attempts an answer.
Telecom major Reliance Communications on Thursday launched what the company said would be the fastest wireless internet service in the country to date.
Aramco also plans to invest in building India's largest oil refinery on the country's west coast.
Kumar Mangalam Birla will be the non-executive chairman and Balesh Sharma the new CEO of the merged entity, which will remain listed.
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
UK-based Cairn Energy PLC on Wednesday said it has agreed to drop litigations to seize Indian properties in countries ranging from France to the UK as it has accepted the Indian government's offer to settle tax dispute relating to the levy of taxes retrospectively. Meeting the requirements of new legislation that scraps levy of retrospective taxation, the company has given required undertakings indemnifying the Indian government against future claims as well as agreeing to drop any legal proceedings anywhere in the world. The government now has to accept this and issue Cairn a so-called Form-II, that will commit it to refund the tax collected to enforce the retrospective tax demand.
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.
BSNL, Tata Teleservices and Reliance Communications, who also provide GSM technology-based services, are not part of the report.
'We showcased about 20 use cases in 5G trials in Pune and Gandhinagar and some of them were interesting and innovative.' 'However, which ones will take off and which ones would not be relevant, we don't know yet.'
The Supreme Court on Wednesday reserved its judgement on a petition filed by Tata Teleservices challenging the telecom tribunal's order, which classified the company's fixed wireless phone service 'Walky' as limited mobile. TDSAT had ruled that Walky service offered by Tatas was a mobile service, thus the private company was liable to pay a levy called Access Deficit Charge (ADC) to state-owned BSNL as per the interconnect order of telecom regulator Trai.
Are the big five using their dominance to shut out rivals? That is the key question, says Prosenjit Datta.
Reliance Jio and Facebook will look to use WhatsApp for delivering goods from local neighbourhood kirana stores to consumers before expanding collaboration in education and healthcare sector, billionaire Mukesh Ambani said soon after announcing the mega Rs 43,574 -crore deal. "All of us at Reliance and Jio are delighted to welcome Facebook Inc," he said in a short video message posted on the group's social media handles.
Company says it has been the victim of a 'mischievous' campaign by rivals.
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Of the 11 licence holders, only eight remain in the fray as concerns about profitability and rising competition are making them think twice before jumping in.
The company will unfold its business plans going forward even as shareholders are seeking answers to the performance of the company's oil and gas exploration and production business.
BSE Midcap and BSE Smallcap indices settled the day 0.7% and 0.9% higher
This is the first time airwaves in 700 Mhz band will be put up for auction
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