The tribunal accepted the government's argument that licence or spectrum is a state asset over which Aircel had no right of ownership.
Reliance Retail's shareholders will get one share of its listed parent, Reliance Industries, in exchange for every four shares, according to the scheme of arrangement.
Typically these are high-beta stocks and earnings are volatile
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
'Interim Budget has ignited the entrepreneurial spirit.'
After announcing his re-entry into telecom a few days ago following a patch-up with younger brother Anil Ambani, Reliance Industries' chairman Mukesh Ambani on Friday said that prospects of the sector were much brighter now than they were at the time when he had spearheaded the undivided group's foray.
The government has accused Reliance Infocomm of violating the licence by illegally routing international calls as local ones to avoid payment of levies to telecom PSUs.
The move comes against the backdrop of the US and some of its allies banning the purchase of Chinese telecom gear over security concerns and pressuring other countries to follow suit.
Billionaire Mukesh Ambani's Reliance Industries has started a limited test use of WhatsApp to connect customers to grocery stores, days after Facebook decided to invest USD 5.7 billion in digital assets controlled by the company. JioMart, an e-commerce venture of Reliance Retail, "has already started interacting with customers on WhatsApp for grocery orders" in Navi Mumbai, Thane and Kalyan, Credit Suisse said in a report.
Ambani said Jio will offer the world's lowest data tariff
The company will wait for sizeable user base for better valuation.
At market close, the oil-to-telecom conglomerate's market capitalisation (m-cap) zoomed to Rs 10,01,555.42 crore on BSE.
Billionaire Mukesh Ambani on Monday introduced daughter Isha as leader of his conglomerate's retail business as he details succession planning at India's most valuable firm. Ambani had previously named son Akash as chairman of the group's telecom arm, Reliance Jio. At Reliance Industries Ltd's 45th annual shareholders meeting, Ambani introduced Isha as leader of retail business as he invited her to speak on integrating WhatsApp with the retail business.
The number of mobile phone connections in India rose by 1.96 million in March, after reducing by 1.06 million in February, latest data from the Telecom Regulatory Authority of India (Trai) showed. The number of new connections have hit a 9-month high. In these past 9-months, the total number of wireless (mobile phone) subscriptions had reduced on 5 occasions, the data shows.
With a potential for a 10x growth in pre-tax profit from the business over the next decade, retail including e-commerce will be the next growth engine for Reliance Industries Ltd, Goldman Sachs said in a report. After growing 5x over FY16-FY20, RIL's core retail revenue growth has taken a pause in FY21 (April 2020 to March 2021) due to Covid related macro headwinds including lower footfalls. The oil-to-telecom conglomerate run by billionaire Mukesh Ambani used the period to build strong digital capabilities of the retail business while continuing to expand its physical reach.
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.
Flag Telecom, a Reliance group company, has awarded a multi-million dollar contract for construction of its Falcon submarine cable to Alcatel, a global networks and application service provider.\n\n
Analysts wary about investment in 'unrelated' sectors, insiders say retail will break even by month-end.
The next spectrum auction will be held in late February 2024 and the reserve price for most bands will remain the same as the 2022 auction, department of telecommunications (DoT) officials have said. The government expects operators to go for low bands beginning in 600 megahertz (MHz), licences for many of which are lapsing soon. Back in September 2021, the government had decided that spectrum auctions should be held annually.
Quoting an unnamed person familiar with the talks as saying that MTN and RCOM could extend their exclusive talks for another two to three weeks after the 45-day period expires tomorrow, the report said, 'there is no indication that extra time alone would be sufficient to resolve the feud' between Anil and Mukesh Ambani. The deal, if fructifies, could create a combined entity worth about $70-80 billion, which would be one the world's biggest emerging market telecom firm.
Sunil Bharti Mittal's Bharti Airtel retained the top rank with a market share of 33.21 per cent and a total user base of 77.48 million. Vodafone-Essar added 1.87 million and maintained a market share of 23.41 per cent. COAI, which does not include Reliance Telecom, estimates RT added at least 370,000 subscribers in the month,
RIL has faced protests from local authorities, activists and residents across India campaigning against masts and roadworks.
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore (Rs 110 billion) received in 2013.
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
The deal follows Facebook picking up a 9.99 per cent stake in the firm that houses India's youngest but largest telecom firm on April 22 for Rs 43,574 crore. Within days of that deal, Silver Lake -- the world's largest tech investor -- bought a 1.15 per cent stake in Jio Platforms for Rs 5,665.75 crore. On May 8, US-based Vista Equity Partners bought 2.32 per cent stake in Jio Platforms for Rs 11,367 crore.
Reliance Globalcom, a leading global provider of international wholesale telecom services with a presence in high growth emerging and developed markets, on Tuesday announced that it is upgrading its European Network with coherent 100G technology.
Reliance Jio Infocomm is the only company which had in 2010 won a pan-India spectrum for 4G services but is yet to start commercial services.
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).
If Reliance Jio resets the rules of the game with low voice and data tariffs, most incumbents will find themselves back to square one.
Oil to telecom conglomerate Reliance Industries (RIL) has initiated the process to seek shareholders' approval for the appointment of the third generation of the Ambani family on the company's board. The remote voting through postal ballot will start from September 27 onwards. In a separate note, CreditSights said a trust and hold-co model could be a possibility for the anticipated succession at RIL.
DoT though failed to implement TRAI's recommendations to levy spectrum usage charge
The DoT estimates that it will receive Rs 29,524 cr in revenue from the telecom industry in FY18, which is 38% less than the Budget revenue target of Rs 47,300 cr for FY18
Officials of Reliance Jio Infocomm claimed to have achieved broadband speeds on their networks that are 10-12 times faster than 3G services.
The Telecom Dispute Settlement and Appellate Tribunal has refused to give an interim order against Reliance's proposed roaming facility on WLL phones as the telecom regulator Trai said it was examining Reliance's reply.
At present 100% FDI is allowed, of which up to 49% investment in a company can be done through the automatic route
Despite the increased business risks, the rating agency affirmed Baa2 ratings, three notches down from the highest grade, with a stable outlook for RIL, Moody's Investor Service said in its weekly outlook.
Indian telecom companies are likely to get a windfall of Rs 100-150 crore (Rs 1 to Rs 1.5 billion) when they announce their first quarter results during this week.
BPCL and ONGC raised $4.9 billion in 2016-17 against $1.65 billion raised by Reliance
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