At market close, the oil-to-telecom conglomerate's market capitalisation (m-cap) zoomed to Rs 10,01,555.42 crore on BSE.
At present 100% FDI is allowed, of which up to 49% investment in a company can be done through the automatic route
Congress party has alleged that Modi government is surreptitiously taking steps to protect the interests of six leading telecom companies.
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.
RIL has been talking to groups including Gionee, Huawei and Xiaomi
BPCL and ONGC raised $4.9 billion in 2016-17 against $1.65 billion raised by Reliance
Debt-saddled telecom operator Vodafone Idea Ltd's Rs 18,000 crore follow-on offering (FPO) opened to a modest response on Thursday with just 26 per cent of shares on offer being sought by investors. Of the 1,260 crore shares on offer, 331.24 crore was subscribed on Thursday, according to information on the BSE. Qualified institutional buyers picked up 61 per cent of their 360 crore shares reserved for them while non-institutional investors sought 28 per cent out of 270 crore shares earmarked for them.
Mukesh's television unit has been aggressively wrapping up deals with hundreds of small players in a street-by-street effort to conquer that final hurdle in its cable TV drive
Providing services like broadband connectivity, cable TV, enterprise solutions, and payment wallets is the need of the hour for telcos, and a second wave of consolidation is upon the industry, a rating agency said on Tuesday. India Ratings and Research said the sector, which was battered following the aggressive entry of Reliance Jio, will continue showing signs of recovery amid conducive regulatory environment and maintained a "stable" outlook for the industry in FY22. The second round of consolidation (Consolidation 2.0) is kicking-in in the industry, which will bring a transformation in the business models of telecom companies, leading to the evolution of incumbents from the providers of traditional voice-only services to complete digital solutions for households, it said.
BSNL on Wednesday denied allegations that it was blocking calls of private telecom operators like Reliance and Tatas, even as Trai asked all operators to maintain "status-quo" till the interconnection norms are announced.
The company wants to woo post-paid customers and rent out its assets to cut debt.
The total outstanding dues against Bharti Airtel is Rs 11,235.50 crore.
In one of the largest deals by an Indian telecom company, Reliance Infocomm has raised $300 million from overseas markets through syndicated loans to part-finance its $5.5 billion telecom project.
Vodafone Idea's (Vi's) subscriber loss reduced to a seven-month low in March, and alongside the company added 1.1 million broadband users after two months of net loss -- two things analysts have noted as key trends that need to be monitored. While Vi has been losing customers for more than two and a half years now, the churn reduced to below a million after five straight months in March, the Telecom Regulatory Authority of India (Trai) data has shown. "Jio's softer than usual subscriber growth in March, and VIL's slowing subscriber market share loss are key trends to keep an eye on going forward," global investment banking and financial services major UBS said in an analyst note.
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
Supreme Court had asked the government to issue RCom a NoC for spectrum sale to Reliance Jio Infocomm by December 9 if it furnishes a corporate guarantee of Rs 1,400 crore
Facing a penalty of Rs 150 crore (Rs 1.5 billion) for illegal rerouting of international calls, Reliance Infocomm is understood to have submitted its reply in the appellate telecom tribunal TDSAT justifying its position.
The numbers hidden behind the results tell a story of zero-return businesses and lower prospects for the core units
According to the latest data released by Cellular Operators' Association of India, the total GSM subscriber base rose to 257,85 million, up from 249.35 million in November 2008, a growth of about 3.25 per cent in December.
ADAG, Mahindra BT, L&T Infotech may team up with PEs.
Taking cognizance of cellular operators' complaint, Telecom Regulatory of India has asked Reliance Infocomm to explain about roaming services being promised by them on their WLL phones.
Telecom and petchem businesses will drive growth for RIL.
Abhik Sen, who tried out the new service, finds out it is good for data and apps, but calls are still sketchy
Mukesh Ambani, chairman and managing director of Reliance Infocomm has been chosen the 'Telecom Man of the Year 2004
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 Industries' (RIL's) consumer business is expected to lead earnings growth in the Q3FY24 performance, according to analysts. While the energy business is expected to show sequential weakness, the consumer business, especially retail, is estimated to show strong growth. The oil-to-telecom conglomerate will announce its Q3FY24 financial results on Friday.
By its another move, which can potentially take the steam out of every other offers of telecom operators in the Punjab market, Reliance Communications has announced night time calling absolutely free in Punjab by offering Special Tariff Voucher (STV) of Rs 7.
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 CBI on Wednesday called Loop Telecom, CEO Sandeep Basu, Chairman of Shyam group Rajiv Mehrotra, former telecom minister A Raja's brother A K Perumal and close aide Sadiq Batcha, for questioning in relation with the 2G spectrum scam.
Two regional CDMA players - HFCL in Punjab and Shyam Telecom in Rajasthan - have deposited fee for their GSM spectrum as per the dual technology permitted by the government. HFCL deposited Rs 151.75 crore (Rs 1.51 billion) for Punjab circle, while Shyam gave about Rs 32 crore for the Rajasthan circle.
Trai on Monday recommended imposing penalty on India's largest private sector basic telephony service provider, Reliance Infocomm, for offering mobility services almost similar to cellular phones, to its wireless phone subscribers.
Despite low tariffs, voice usage is not growing.
This marks the second billion-dollar investment by Silver Lake in a Reliance subsidiary after the $1.35 billion investment in Jio Platforms.
According to documents accessed by Business Standard, RIL increased its direct stake in Jio to 98.9 per cent as on March this year by pumping more capital into the company.
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.
Unlike Reliance Jio's focus on 4G, it plans to segment the data market based on device prices and spectrum.
Anil Ambani-led company Reliance Communications appointed JP Morgan as the merchant banker on Monday to look for strategic buyers for its wholly-owned tower subsidiary Reliance Telecom Infrastructure Ltd.
Profit from its retail business jumped 77 per cent to Rs 1,923 crore and that from telecom rose by 78.3 per cent to Rs 2,665 crore.
