The Adani family, led by Chairman Gautam Adani, is the most valued first-generation family business at Rs 15.44 trillion.
The optic fibre cable infra was with Jio Digital Fibre and the tower infra with Reliance Jio Infratel
Admitting the Central Bureau of Investigation appeal, the high court said there are "some contradictions" in the trial court's judgment which require "deeper examination".
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.
Reliance joins a number of large companies, including the Essar and Adani groups, which are raising loans abroad as interest rates in India remain high.
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.
Shares of Mukesh Ambani-owned Reliance Industries Limited (RIL) rose nearly 1 per cent on Tuesday, hitting an intraday high of Rs 2,986.05 per share, after most brokerages reacted positively to the company's March quarter (Q4FY24) results. The bullish outlook stems from Reliance Jio's potential tariff hikes, given the competitive landscape, along with slow but steady improvement in the oil-to-chemical (O2C) vertical.
Analysts have pointed out that with the dues arising out of the SC judgment there could soon be only two private telcos in the country, and not three - Reliance Jio, Bharti Airtel and Vodafone Idea - as now.
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.
UV Asset Reconstruction Company Ltd has made the highest bid of Rs 16,000 crore to buy Anil Ambani group's Reliance Communications and Reliance Telecom, which are in the National Company Law Tribunal (NCLT). Last year it was the highest bidder for taking over Aircel's assets for an upfront payment of Rs 150 crore. Surajeet Das Gupta and Dev Chatterjee dig deeper to find out more about this little known company.
Consumers are unlikely to disconnect their mobile connections and will most likely absorb the up to 22 per cent tariff hike imposed last week by Jio, Airtel, and Vodafone Idea (Vi), according to analysts. The last major tariff hike in 2021 was followed by a 4-5 per cent SIM consolidation, with people leaving mobile operators with more expensive plans for their peers offering comparatively affordable options.
Sector experts have, however, indicated that a large part of the airwaves in the upcoming auction will remain unsold.
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.
Reliance Infocomm on Tuesday informed the Delhi High Court that it was discussing with MTNL the matter related to demand of Rs 309 crore (Rs 3.09 billion) by the telecom public sector undertaking for alleged routing of international calls as local on
RIL should wait-and-watch before investing in telecom sector.
The CBI contended before the Delhi high court on Tuesday that there were glaring illegalities in the trial court judgment that acquitted former telecom minister A Raja and others in the 2G spectrum allocation scam case.
In a regulatory filing, Reliance -- the country's most valuable company - said, 'The 43rd AGM will be held on Wednesday, July 15, 2020 at 2 pm though video conferencing / other audio-visual means.'
The Department of Telecom (DoT) has slapped a penalty of Rs 2,000 crore on Vodafone Idea and Rs 1,050 crore on Bharti Airtel based on sector regulator Trai's recommendation five years ago, according to sources. The DoT has given three weeks time to the telecom operators to pay the penalty, a source said while sharing the content of the demand notice served to the companies on Thursday. When contacted Bharti Airtel spokesperson said, "We are deeply disappointed with the arbitrary and unfair demand based on Trai recommendations of 2016 relating to provisions of point of interconnect to a new operator.
Bharti Airtel and Vodafone Idea will roll out revised mobile service tariffs increasing rates in the range of 10-24 per cent from the first week of July. Bharti Airtel announced a 10-21 per cent hike in prepaid and postpaid mobile tariffs from July 3, a day after larger rival Reliance Jio announced an increase in rates. Later in the day, loss-making telecom operator Vodafone Idea (Vi) also announced its plan to raise mobile tariffs by 11-24 per cent from July 4.
Reliance Communications will be investing around Rs 15,000 crore (Rs 150 billion) to set up and install an additional 15,000 base transceiver stations in the country.
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 Jio, India's top telecom operator, announced a 12-27 per cent hike in mobile tariffs -- the first in two and half years, setting the stage for other operators like Vodafone Idea to raise charges. The company has also restricted the access of unlimited free 5G services for customers. The hike comes immediately after the spectrum auction, as per the anticipation of sector experts.
Experts say going ahead data price will fall further due to competition
According to sources, Reliance Infratel would offer 10 per cent equity to the public valued at Rs 5,000-6,000 crore (Rs 50-60 billion). Reliance Infratel is the telecom infrastructure division of Reliance Communications Ltd.
HDFC Bank, Asian Paints, Kotak Bank, Bajaj Auto and HDFC were among the other laggards.
Mukesh Ambani is stringing in new partnerships within the Reliance ecosystem with the best in global business -- from Facebook, Google and Microsoft to umpteen sovereign wealth funds and a soon-to-be-declared strategic partner in a big global retailer, notes Shailesh Dobhal.
Given the company's expansion into internet and retail, more investments including mergers and acquisitions seem highly likely.
Analysts wary about investment in 'unrelated' sectors, insiders say retail will break even by month-end.
Deals between the two could earn RCom Rs 14,000 cr, says Anil Ambani.
Operators continued aggressive bidding in 900 MHz band
The launch of Reliance Jio Infocomm Ltd last September, particularly the tariff war it has unleashed on its competitors, has deepened the crisis facing India's telecom sector. One offshoot of this is the major drop in earnings reported by industry leaders Bharti Airtel and Idea Cellular with each passing quarter. Aslam Hunani/Rediff.com tells the story in numbers.
Typically these are high-beta stocks and earnings are volatile
The merits and demerits of the telcos' 5G strategy however is clearly dependent on the financial muscle of players, reports Surajeet Das Gupta.
Telecom operator Bharti Airtel on Tuesday posted a 31 per cent drop in consolidated profit to Rs 2,072 crore in the March quarter mainly due to devaluation of the Nigerian Naira. The company had registered a profit of Rs 3,005.6 crore in the year-ago period. The consolidated revenue of operations increased 4.4 per cent to Rs 37,599.1 crore during the quarter under review from Rs 36,009 crore a year earlier.
"A global settlement was reached between the French tax authorities and Reliance Flag, a telecom company, in a tax dispute pertaining to the period 2008-2012," the French embassy said in a statement.
Reliance Jio's aggressive target to reach 100 million households through the launch of the 5G fixed wireless access (FWA) could make it one of the world's largest players in this space. But this also marks a change from its earlier strategy of offering fibre-to-the home (FTTH) broadband to households. Despite its best efforts, in two years Jio has been able to connect only 7 million households with FTTH, as permission for right of way for the last mile became a major impediment and the process of laying ducts for the roll-out was slow and cumbersome.
This season, the nature of the advertising game has changed dramatically with TV and digital rights going to different entities.
The list of guests included celebrities from across the globe, politicians, the who's who of Hindi and south Indian cinema world and almost all the top cricketers of the country.
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.
