Telecom tribunal TDSAT on Monday rejected a contempt application filed by Anil Ambani group company Reliance Communications against Cellular Operators Association of India, for allegedly taking the legal battle on spectrum for a media trial.
The government is looking to sell shares of Reliance Industries (RIL) held through Specified Undertaking of the Unit Trust of India (SUUTI) and is soon going to appoint an intermediary to manage it. The plan is to sell about 8 lakh shares of RIL that will help the government garner around Rs 180 crore. The Department of Investment and Public Asset Management (DIPAM) will appoint an intermediary that will act as a custodian of these shares. The intermediary, based on its market analysis, will offload these shares at the best price, said an official. A final approval on the proposal is expected soon.
According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
Telecom firms like Bharti Airtel, Reliance Communications and MTNL have shown interest to start IPTV services, where television signal is carried to homes through telecom lines and broadband.
As it firms up its telecom re-entry strategy, Reliance Industries subsidiary Infotel Broadband has told telecom tower companies that it will pay only half the prevailing rental for towers taken on lease.
In 2017, a consortium led by Russian state oil company Rosneft agreed to buy Essar Oil for $12.9 billion in India's biggest foreign acquisition of a homegrown company. Rosneft's buyout of Essar's assets was meant to herald a wave of energy investments in India - over six decades after Esso, Caltex and Shell invested in India's refining sector in the 1950s. But the government has tripped up in its efforts to sell Bharat Petroleum Corporation Ltd (BPCL), formerly Burmah Shell, a blue chip public sector company. Bidders include a couple of global funds and resources firm Vedanta.
Vodafone India said on Friday it would launch fourth-generation (4G) mobile phone services in the country by the end of the year.
4G services typically make it much faster than 3G services to surf the web on mobile phones, tablets and laptops.
DoT still working on final AGR dues due to varying accounting practices. Telecom operators have been submitting two separate audited details of deduction towards interconnection usage charges and roaming fee to the DoT.
Reliance Industries vice chairman Anil Ambani on Thursday met Pradeep Baijal, chairman of Telecom Regulatory Authority of India.
Amazon has shot off yet another letter to market regulator Sebi, accusing Future Retail of insider trading and called for an investigation as the US online retailer looks to ratchet up pressure against the Future-RIL deal. Future Group, however, vehemently denied the charges, saying these allegations were "Amazon's ill-motivated attempts to throw everything at the situation to stultify the transaction."
'All three players in the market are haemorrhaging cash. Average consumer is consuming 12 gigabits (GB) at price points you don't see anywhere else.'
The Sensex soared 402 points higher to end at 25,720 and the Nifty surged 130 points to close at 7,819.
Banking on the recent cable landing station regulations, Reliance Communications is planning to launch global video transmission services on its new international long distance network.
Falling revenues, increased capex, and first full year of spectrum debt may make things worse
Cellular Operators Association of India (COAI) and Association of Unified Telcom Service Providers of India (AUSPI) have opposed the proposal to compensate consumers.
Isha and Akash, 23, were appointed to the boards of Reliance Jio Infocomm Ltd and Reliance Retail Ventures Ltd, the company said.
According to some analysts, Reliance has vaulted ahead of others in the queue and now stands a "rock-solid" chance of getting spectrum earlier than expected.
The move will help telcos, including Reliance Jio, Vodafone, and Idea Cellular
It's hard to say because of the winner-take-all nature of new platform and network businesses, but Reliance has not been an efficient user of capital, and Adani numbers are varied, observes T N Ninan.
Montek Singh Ahluwalia supports operators' plea. He tells the finance minister that existing players should not be charged for the remaining licence period.
The arbitration clause is present in almost 95 per cent of corporate agreements, according to tax and audit firm Ernst & Young.
Ten Indian companies, including Mukesh Ambani-led Reliance Industries and telecom major Bharti Airtel, are among the 500 top global companies for 2009
Anil Ambani group company Reliance Communications on Monday announced entering into an exclusive negotiations with South Africa's telecom giant MTN to discuss potential combination of their businesses.
The Union Cabinet on Wednesday approved a Rs 76,000 crore policy boost for semiconductor and display manufacturing ecosystem in the country in an bid to position India as a global hub for hi-tech production. Announcing the decision of the Cabinet, IT and Telecom Minister Ashwini Vaishnaw observed that electronics plays an important role in everyday life, and semiconductor chips forms a crucial part of electronics. Outlining the details of the scheme, he said the Rs 76,000 crore programme has been approved for the development of semiconductors and display manufacturing ecosystem.
The telecom sector is in the midst of another major shift as voice gives way to data.
RIL's standalone net profit rose one per cent quarter-on-quarter
Richest 10 account for 41% of promoter wealth, up from 33% in December 2018, says Krishna Kant.
The RBI has created a stunted business model by which payment banks are supposed to shoulder the noble objective of financial inclusion without being able to make much money.
Even as the implementation of MNP is likely to be delayed from the scheduled date of September 20, the PSU, which hopes to attract substantial number of users from the rivals like Bharti Airtel and Reliance Communications, has called for expression of interest for MNP gateway.
Dr Reddy's was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries. On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
Telecom complaints against other players were below 500 in the first half of 2016.
Over the three-month period, Airtel's stock price has rallied from Rs 432 to Rs 540, while Vodafone Idea has risen from Rs 9.2 to Rs 11.8 per share.
Telecom service provider Reliance Communications is to tap the retail international long distance calling space in the UK
Telco sector has been been cutting back on freebies and discounted minutes to maintain profitability.
Bajaj Finance was the top loser, tumbling 4.68 per cent, followed by Tech Mahindra, IndusInd Bank, ICICI Bank, SBI, Reliance Industries, Bharti Airtel and HCL Tech. NSE Nifty crashed 290.70 points or 2.43 per cent to 11,680.35.
These investments will be targeted at petrochemicals, exploration and production and telecom businesses.
India Inc pledges $75 bn on Digital India launch
The total value of India's top 100 brands has increased by 2 per cent, from $162.1 billion in 2020 to $164.9 billion in 2021, according to the latest Brand Finance India 100 2021 report. This uplift in brand value over the course of the first year of the pandemic is an impressive feat given the global economic crisis following the implementation of national lockdowns in March 2020, when business activity was brought to a halt, affecting both production and consumption. Among the brands that came on the top of the list include Tata Group, Reliance Industries, and Mahindra Group.
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