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.
The 2016 upstart, called Jio, dislodged rivals and has emerged as the nation's No. 4 carrier by offering call services free for life and data transmission at dirt cheap rates.
Trai's move is seen as a relief for the debt ridden sector and the industry body COAI expects that continuing with six paise mobile call termination charge will not have any impact on consumers as operators have already absorbed this charge in their recently increased mobile call and data rates.
UltraTech Cement was the top gainer in the Sensex pack, rising 3.06 per cent, followed by IndusInd Bank, ICICI Bank, HDFC Bank, Titan, Axis Bank, SBI and Reliance Industries. NSE Nifty advanced 78.35 pointsto close at 14,814.75.
The telecom companies have billed the subscribers for the period of communication blockade which began on August 5 when the Centre abrogated provisions of Article 370 and split Jammu and Kashmir into two union territories.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
The Big Two telecom companies have accelerated their moves towards this next-gen technology, though they have chosen very different routes to getting there.
Telco sector has been been cutting back on freebies and discounted minutes to maintain profitability.
Mukesh Ambani's Jio, high debt and some bad decisions drove RCom to its grave.
While lower gas output led to earnings cuts, price rises with regular ramp-ups in output will lead to earnings upgrades
Vodafone, which is yet to announce the acquisition, has offered to partner Essar, on which the Indian conglomerate said, "We are at the moment evaluating all our options in the best interest of the Group."
Richest 10 account for 41% of promoter wealth, up from 33% in December 2018, says Krishna Kant.
The Bangalore-headquartered firm had posted a net profit of Rs 1,623.3 crore (Rs 16.23 billion) in the year-ago period, it said in a BSE filing.
The intra-city cable leasing deal will give RCom Rs 1,200 crore, which will be used to clear some of its debt.
To make the scheme attractive, the government has announced a rate structure wherein the operators may take the optical fibre on lease and provide broadband connectivity to customers.
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.
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.
With RIL entering a new growth phase in telecom and retail, gen-next, say RIL executives, could soon be seen holding the reins of the firm, assisting their father, Chairman Mukesh Ambani.
The chairman of the Essel Group says he has settled 91.2 per cent of the estimated Rs 11,000 crore debt on the group's books.
Of the two big players, while Bharti Airtel can leverage its existing subscriber base, newcomer Reliance Jio will have to wean away subscribers from the incumbents
That's because India does not have a serious venture capital industry with an appetite for risk, observes T N Ninan.
While only 78.15 per cent of Jio's total subscriber base was active, Airtel boasts of 98.14 per cent active customers.
CBI sources said Reliance Infocomm CEO in Chennai Som Sundaram was summoned to the investigating agency's office and asked about the process of functioning of Reliance phones. \n\n
Ambani brothers on Wednesday showered lavish praises on Prime Minister Narendra Modi saying, India has now got a decisive and visionary leader.
Facebook has launched an 'internet.Org' initiative
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.
Market breadth turned negative with 1,779 declines over 884 advances on the BSE
High spectrum charges would lead to rise in mobile services rates and adversely impact government's Digital India initiative by impeding telecom network expansion.
The matter was mentioned before a bench of Delhi high court's acting chief justice Gita Mittal and kustice C Hari Shankar by Additional Solicitor General Tushar Mehta. The court allowed it to be listed for hearing on Wednesday.
State-owned telecom major BSNL has awarded a major chunk of its international traffic to UK and Europe to Sunil Mittal-owned Bharti, virtually eliminating incumbent carrier VSNL.\n
As record stock market rally continues, the value of shares directly owned by next-generation business leaders at 20 major corporate houses has soared over 18 per cent to Rs 17,000 crore.
The top three fixed line players Bharat Sanchar Nigam Limited, Mahanagar Telephone Nigam Limited and Bharti Airtel reported a revenue decline.
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.
R World tariff structure has been devised keeping in mind customer convenience, affordability and flexibility of use.
The broader NSE Nifty climbed 61.60 points, or 0.58 per cent, to close at 10,772.05.
Reliance Industries (RIL) has cut estimates for proven gas reserves in its Krishna-Godavari block off the east coast by 6.7 per cent, to 3.67 trillion cubic ft (tcf), the company said in its annual report.
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.
Here are some of the top executives and politicians who have been linked to the 2G spectrum scam in India.
Oil, banks eneded the day in green while few in auto sector lost heavily.
