India will become one of the top 10 telecom powers in the world by the year 2006, Mukesh Ambani, chairman and managing director of Reliance Industries, said in New Delhi on Saturday, at the Pravasi Bhartiya conference.
According to software company Mavernir, the new virtualised networks would lead to a saving of 40 per cent in capex and 34 per cent in terms of lower operations cost for operators.
Oil-to-telecom conglomerate Reliance Industries Ltd head Mukesh Ambani continues to be the richest Indian and has now broken into the world's top 10 wealthiest persons in the latest Forbes 2024 Billionaire List. Ambani, 66, is ranked 9th on the list with a wealth of $116 billion, up from $83.4 billion in the 2023 ranking, according to Forbes. Gautam Adani is the second richest Indian and is ranked at No.17 on the global list.
Shares of telecom services providers - Reliance Industries (parent of Reliance Jio), Bharti Airtel, and Vodafone Idea - have shed up to 23 per cent so far in the current calendar year as growth in the wireless subscriber segment begins to plateau amid higher tariffs and rising costs of smartphones. By comparison, the benchmark S&P BSE Sensex, and sectoral index BSE Telecom have dipped 1.8 per cent, and 12.6 per cent, respectively, ACE Equity data shows. However, analysts expect the trend to reverse soon as telecom services providers focus on the next leg of growth -- fixed broadband (FBB) segment.
Mirroring the growth in cellular services, the basic telecom including the WLL (mobile) services, has touched 31.82 lakh customers, with Reliance Infocomm leading the tally with 16.7 lakh at the end of June this year.
He allegedly advanced the cut-off date to favour accused firms in allocation of 2G licences.
The portal - Mobile Financial Portal -- would offer corporate news, announcements, research reports and stock quotes to its customers across all mobile platforms, a company statement said.
Reliance Industries, construction major L&T and IRB Infrastructure are some of the top companies that have used an infrastructure investment trust structure to reduce part of their debt and generate returns for their investors. Earlier this month, IRB Infrastructure InvIT was listed on the National Stock Exchange, giving its investors an option to exit by selling their units. The listing came within months of the Securities and Exchange Board of India's (Sebi's) guidelines for conversion of private unlisted InvITs into listed ones were issued.
On examination of documents, registrar of companies concludes that Swan Telecom was an associate company of Reliance Telecom Limited/Reliance Communication Limited and an ADA Group company.
43 rounds of bidding has taken place.
The Aam Aadmi Party has demanded the dismissal of Telecom Minister Ravi Shankar Prasad alleging a conflict of interest that has prevented him from issuing a notice to Mukesh Ambani's Reliance Jio on the 4G issue, a charge vehemently denied by Prasad who said he never gave advice or appeared for the company.
Trai Chairman Pradip Baijal on Wednesday dismissed as "nothing exceptional" the protest by Reliance Infocomm against the regulator's recommendations to allow direct-to-home and VSAT operators to offer broadband services.
Mukesh Ambani, Chairman of Reliance Industries Ltd, has won this year's prestigious World Communication Award as the world's most influential person in telecommunications in 2004, said a company release.
GSM operators in the country added 8.97 million users during April 2009 (excluding Reliance Telecom), after recording the highest mobile subscriber addition of 11.2 million last month.
Operators oppose levying of charges for additional spectrum with retrospective effect.
After its successful launch of telecom business, Reliance is likely to revive its plans to foray into yet another green-field area -- life insurance -- by March this year.
In insolvency proceedings, Ericsson will be treated as only an operational creditor and may end up losing the Rs 550 crore
In his letter dated October 11, written before the last EGoM meeting, Ambani has said the government would incur a loss of at least Rs 35,000 crore if the EGoM had decided to charge for excess spectrum beyond 6.2 MHz only prospectively from 2012, and not from 2008.
Reliance Infratel, the tower business arm of the group's telecom entity Reliance Communications, has allowed the regulatory approval to lapse without coming out with an IPO and is unlikely to revive the process soon. A company spokesperson did not take queries on lapse of the approval period and on whether the company was looking to revive the process by filing a fresh draft IPO prospectus with market regulator Sebi.
Global investment management firm Bernstein has pegged the enterprise valuation of Reliance Industries (RIL)'s 85 per cent stake in Reliance Retail at $111 billion, while valuing the Mukesh Ambani-led company's 66.5 per cent stake in telecom and digital platform arm Reliance Jio at $88 billion. Reliance Industries had earlier planned to list both its subsidiaries to unlock value for its shareholders but hadn't fixed any timeline. The report said that Reliance Retail had raised $6 billion by diluting a 10.1 per cent stake, while Jio Platforms raised $20 billion from investors by selling 33 per cent in 2020.
The Delhi high court on Tuesday allowed the Central Bureau of Investigation and the Enforcement Directorate's pleas seeking an early hearing into the appeals challenging the acquittal of former telecom minister A Raja and others in the 2G spectrum allocation case.
Telecom Regulatory Authority of India has issued show cause notices to Bharti Tele, Reliance Infocomm, and Idea Cellular for not adhering to prescribed format for advertising tariffs to consumers.
Mergers and acquisitions (M&As) in India have moved into the slow lane, dropping 43 per cent in terms of deal value to touch $13.37 billion since January this year to date, compared to the same period in the last year. According to data sourced from Bloomberg, Indian companies reported deal value worth $23.5 billion between January and March 22, 2023. Data Infrastructure Trust's acquisition of American Tower Corporation's India telecom towers business for $2.5 billion was the top deal for the ongoing quarter so far, followed by the Highway Infrastructure Trust's acquisition of PNC Infratech's road projects for $1.08 billion.
Reliance Infocomm on Tuesday said the company has not violated the licence agreement in the alleged re-routing of international calls saying the usage of Home Country Direct service by the company was fully recognised by the International Telecom Uni
Reliance Infocomm on Wednesday said it would enter the pre-paid card segment soon for its mobile telecom operations.
Analysts have given a thumbs up to the Reliance Industries (RIL) and Walt Disney Co. (Disney) proposed a joint venture (JV). The stock of the Mukesh Ambani-controlled company gained nearly 1.5 per cent on Thursday to Rs 2,952 levels as compared to the S&P BSE Sensex that traded marginally weak, down 0.2 per cent to 72,172 levels in intra-day trades.
The strong correlation between its sales (revenue or turnover) and crude oil prices (average for the financial year) suggests that Ambani may be proved right.
Manoj Sinha, earlier minister of state for railways, will be tasked to conduct the auction and deal with issues like net neutrality.
Reliance Infocomm has asked the government to reconsider the penalty imposed on it on charges of illegal routing of international calls, saying the telecom ministry's action was "misconceived and unjustified."
Reliance Industries' annual general meeting on Friday will be unique in many ways. It's the first AGM after the Supreme Court judgment on K-G gas, the first after the truce between Mukesh and Anil Ambani and the first after the company's big-bang return to telecom.
The Telecom Regulatory Authority of India on Friday said it has sought information from those mobile operators who are offering tariff packages along with a handset.
Reliance Industries on Friday announced the sale of 2.32 per cent stake in its digital unit to US-based Vista Equity Partners for Rs 11,367 crore, the third deal in a little over two weeks that will inject a combined Rs 60,596.37 crore in the oil-to-telecom conglomerate to help it pare debt. The US-based private equity firm will buy a stake in Jio Platforms, which houses the country's youngest but biggest telecom firm Jio, at an equity value of Rs 4.91 crore and an enterprise value of Rs 5.16 crore.
Riding on a strong stock market rally, Anil Ambani-led diversified business conglomerate Reliance Group has crossed Rs one lakh crore market valuation.
