Reliance Communications Ltd (RCom) on Friday announced the sale of 51 per cent stake in its telecom tower business to Canada-based Brookfield Infrastructure Group, for an upfront cash payment of Rs 11,000 crore.
Modelled loosely around the National Highway System of the US, he in 2001 launched the Golden Quadrilateral and the North-South & East-West Corridor projects to build 4/6 lane highways between four top metropolitan cities of Delhi, Mumbai, Chennai and Kolkata as well as from Srinagar to Kanyakumari and Porbandar to Silchar.
Isha and Akash, 23, were appointed to the boards of Reliance Jio Infocomm Ltd and Reliance Retail Ventures Ltd, the company said.
"If we are not getting anything then I think it is end of story for Vodafone Idea," Kumar Mangalam Birla said at the HT Leadership Summit when asked about the future of Vodafone Idea in absence of a government relief on payment of Rs 53,038 crore dues.
Plans to set up an integrated pharma firm in a phased manner.
Justice Brijesh Sethi held that the 2018 amendment to the Prevention of Corruption Act relating to Section 13 (1)(d) would not come to the rescue of the acquitted accused in this appeal.
Over a third of Ambani's speech was focussed on RIL's plans.
RCom may get around Rs 4,500 crore by trading its radiowaves to Reliance Jio.
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.
The telecom industry is moving towards a five-plus one model.
This is the last lot of payments that telcos will make towards deferred spectrum liabilities, as the Union Cabinet had late last year approved a two-year moratorium on such spectrum payment dues.
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.
'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.'
Telecom major Reliance Communications plans to monetise its real estate assets as it looks to pare debt.
A high-profile team from MTN is also expected to meet Reliance Industries Ltd next week to take stock of the situation. RCom had informed the bourses on May 26 that it has entered into exclusive negotiations with MTN for 45 days soon after the South African giant aborted its talks with the Sunil Mittal-controlled Bharti group. The deadline will end on July 8.
The race for acquiring India's third largest mobile services provider Hutch, has hotted up with Reliance Communications backed by an US equity funder
Benchmark stock indices Sensex and Nifty tumbled nearly 1 per cent on Wednesday due to profit booking in banking, financial and IT stocks after a recent rally. The 30-share BSE Sensex plunged 537.22 points or 0.94 per cent to end at 56,819.39 as 24 of its stocks declined. During the day, it tanked 772.57 points or 1.34 per cent to touch a low of 56,584.04. The broader NSE Nifty declined by 162.40 points or 0.94 per cent to 17,038.40 with 39 of its constituents ending in the red. Bajaj Finance was the biggest loser among Sensex stocks, dropping by 7.24 per cent.
Mukesh Ambani's Reliance Industries Ltd is preparing to apply for permission to set up a nation-wide broadband telecom network for internal (non-commercial) use.
The new entity will continue to work on technologies in areas like healthcare and education, while also looking at next-gen competencies like artificial intelligence, Blockchain, virtual and augmented reality, among others.
The high court's order came on a plea by acquitted individual and Kusegaon Fruits and Vegetables Pvt Ltd director Asif Balwa that the CBI has not placed on record the mandatory authority under the provisions of the CrPC.
Foreign institutional investors have been allowed to invest up to Rs 5,400 crore (Rs 54 billion) in Reliance Communications through ADRs or GDRs.
A plea by former Telecom Minister A Raja that he would not cross-examine prosecution witnesses unless the Central Bureau of Investigation probe is over in 2G spectrum case, was dismissed on Friday by a Delhi court which began formal trial in the matter.
RIL's December quarter performance is likely to be muted
In a move that could hot up the telecom war, Anil Ambani owned Reliance Infocomm has accused Videsh Sanchar Nigam Ltd of killing the competition in bandwidth market by creating both price and non-price barriers.\n\n
Telcos may hike mobile rates to recover spectrum cost: Moody's
Reliance Infocomm Ltd has commenced work on setting up its telecom network in Jammu and Kashmir, while the private telephony major is all set to commission its operations in Andaman & Nicobar Islands.
Telecom tariffs are likely to fall as the Telecom Regulatory Authority of India substantially lowered access deficit charge, a levy paid by private operators to BSNL for rural operations.
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
Kishore Biyani led-Future Group has filed a caveat before the Delhi high court requesting it to be heard if any plea is filed by e-commerce major Amazon over its Rs 24,713 crore deal with Mukesh Ambani-led RIL. Anticipating a move by Amazon, which had got an interim arbitration award in its favour, putting the announced deal on hold, the Future Group firm has moved the Delhi high court.
RIL's standalone net profit rose one per cent quarter-on-quarter
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
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