Mergers and acquisitions (M&As) in India have moved into the slow lane, dropping 43 per cent in terms of deal value to touch $13.37 billion since January this year to date, compared to the same period in the last year. According to data sourced from Bloomberg, Indian companies reported deal value worth $23.5 billion between January and March 22, 2023. Data Infrastructure Trust's acquisition of American Tower Corporation's India telecom towers business for $2.5 billion was the top deal for the ongoing quarter so far, followed by the Highway Infrastructure Trust's acquisition of PNC Infratech's road projects for $1.08 billion.
Reliance reported record pre-tax profit from its retail and telecom businesses. The two now account for nearly 32 per cent of EBITDA, up from close to 25 per cent previously.
The unit of Reliance Communications may raise debt, equity
This is the second investment by General Atlantic in a subsidiary of Reliance Industries, following a Rs 6,598.38 crore investment in Jio Platforms announced earlier this year.
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.
Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
Rahul has singled out Anil Ambani several times for winning the Rafale defence contract from the Narendra Modi government, alleging favouritism and corruption.
Abu Dhabi-based sovereign wealth fund Mubadala Investment Co will invest Rs 6,247.5 crore to buy a 1.4 per cent stake in Reliance Industries Ltd's retail arm -- the billionaire Mukesh Ambani-led firm's third such deal in less than two days.
The government is likely to release spectrum on September one this year after it gets vacated by the defence forces.
In insolvency proceedings, Ericsson will be treated as only an operational creditor and may end up losing the Rs 550 crore
'Interim Budget has ignited the entrepreneurial spirit.'
Delay due to rise in operating cost of telcos, late adoption of 4G network
Surprisingly, RIL scrip also fell by 2.73 per cent to 1,029.15, becoming the second biggest loser in the index
The launch of 5G services in India turbocharged mobile download speeds here, pushing the country's ranking 72 notches higher to 47th spot in Speedtest Global Index, ahead of nations like Japan, the UK and Brazil, according to Ookla. India's speed performance has zoomed up 3.59 times since the introduction of 5G, it said dubbing the country's 5G advancement as "remarkable". In this global pecking order, India ranked not only ahead of its neighbours like Bangladesh, Sri Lanka, and Pakistan, but also some G20 countries, such as Mexico (90th), Turkey (68th), the UK (62nd), Japan (58th), Brazil (50th place), and South Africa (48th place).
The company also expects to benefit in its proposed banking foray through partnership with Japan's Sumitomo Mitsui Trust Bank and Nippon Life Insurance
Unlike Reliance Jio's focus on 4G, it plans to segment the data market based on device prices and spectrum.
The rating affirmation reflected RIL's strong business profile - a large-scale refinery with a capacity of around 1.2 million barrels a day and dominant market position in petrochemicals.
Readying itself for a bank licence, Anil Ambani-led group's Reliance Capital on Wednesday said Japan's Sumitomo Mitsui Bank and Nippon Life would become its strategic partners in the proposed banking venture, with each having 4-5 per cent stake.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
Sibal said that Trai had compared India with China.
Mukesh and Anil will announce two more infrastructure-sharing agreements by mid-June.
'I feel more like a chess player, thinking for long hours how to make the next move," Telecom Secretary Aruna Sundararajan tells Surajeet Das Gupta.
The licensee will have to ensure that at least half the areas under rural telecom exchanges gets the required street level coverage.
'At a time when massive strides are being made in bringing 5G technology to India, and with TSPs ramping up their infrastructure, it is unacceptable that a large number of complaints over quality issues continue to come in, even from major urban areas.'
It has suggested OTTs be subject to the same security requirements that a traditional TSP has to adhere to.
The company, which is the biggest stakeholder in DreamWorks Animation Studios, is in talks with bankers to identify and acquire up-and-coming mobile game studios in North America and Europe to boost sales
Reliance Industries chairman Mukesh Ambani on Monday announced a Rs 2 lakh crore investment in deploying fifth-generation or 5G telephony with rollout in metro cities by Diwali. Jio, the nation's largest telecom operator, has deployed standalone 5G stack rather than upgrading the existing 4G network, to offer ultra-high speed internet, he said at Reliance Industries' 45th AGM.
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.
Billionaire Mukesh Ambani on Monday pressed for bridging the digital divide "both among nations and within nations", saying connectivity and communications have become the fundamental rights of every person. Also, there is a need to bring back the economies around the globe. Speaking at the Qatar Economic Forum, he said it is difficult to imagine what India would have been without the 4G telecom network during the pandemic. "The digital divide must be bridged, both among nations and within nations.
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.
It emerges that Vi has probably offered good data quality despite being short on spectrum and infrastructure due to its stretched finances. Did the two companies that merged face the heat due to price wars? Probably. Did the government's tough stance in demanding its "due" share of telecom revenues hurt the company? Certainly!
Given the security dilemma prevailing between India and China, India should curb the operation of Chinese telecom companies in India, asserts Dr Rup Narayan Das.
Need for much more investment; sector would like govt help
Despite the $11.7 billion raised by Reliance Industries Ltd (RIL) through stake sales, venture investments in 2020 have declined by a fifth to $28.9 billion till September, consultancy firm EY said in a report on Thursday. Since mid-March, coronavirus infections started getting reported in the country, which has now become the second highest globally in terms of numbers. The lockdowns severely dented economic activity, leading to a 23.9 per cent contraction in the gross domestic product (GDP) for the April-June period and expectations of a 9.5 per cent contraction by the Reserve Bank of India (RBI) for 2020-21.
RIL is setting up infrastructure for a full-fledged horizontal e-commerce offering - internally called the New Commerce - to simultaneously launch pan-India by October-November.
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani on Tuesday said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.
Telecom gear makers, who are in talks with telcos, say that if all goes well, they are ready to roll out the first phase of 5G services from October this year and cover the country's top 30-50 cities (in limited areas) by March 2023. The gear makers expect the telecom companies to give them a heads-up about their plans as well as the equipment required by July, and have promised deployment in three to four months after that. India's main telecom gear suppliers are Nokia, Ericsson and Samsung.
This State-corporate 'cooperation' didn't begin with the arrival of the Modi government.
Many of the big licences, contracts, and even environmental clearances for the Adani group had come in the UPA's time, points out Shekhar Gupta.
The Reliance Anil Dhirubhai Ambani group is setting up TowerX, a tower tenancy exchange platform, through which mobile operators
The early bird results for the January-March quarter of 2022-23 (Q4FY23) show a pick-up in earnings growth, despite a slowdown in revenue growth, thanks to a decline in input costs and lower provisioning for bad loans by banks. The combined net profit of 66 companies that have, so far, declared their quarterly results was up 15.2 per cent year-on-year (YoY) in Q4FY23, an improvement from 4.3 per cent YoY growth in Q3. Net sales growth of these companies, however, slowed down to 11.5 per cent YoY in January-March 2023, the slowest rate in eight quarters.
