RIL, RCom working on partnership blueprint.
Anil Ambani is eyeing the fast-growing GSM-based service with massive expansion plans in eight circles at an estimated investment of Rs 1,600 crore (Rs 16 billion).
The apex court said Ambani and the others will have to purge contempt by paying Rs 453 crore to Ericsson in four weeks. A bench comprising Justices R F Nariman and Vineet Saran said if the 'contemnors' failed to make the payments within the specified period, they will undergo a jail term of three months.
RCom and Aircel will hold 50 per cent each in the new company
Jio is now present in all of the 29 states.
Reliance Communications, along with Malaysian telecom major Maxis, has confirmed its interest in picking up a stake in Hutchison Essar.
The company also expects to benefit in its proposed banking foray through partnership with Japan's Sumitomo Mitsui Trust Bank and Nippon Life Insurance
Sibal said that Trai had compared India with China.
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.
The appellate telecom tribunal TDSAT on Friday dismissed Reliance Infocomm's petition challenging a penalty of Rs 150 crore (Rs 1.5 billion) imposed on it by the government for violation of licensing norms.
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.
Telecom regulator TRAI has imposed cumulative penalty of Rs 50 lakh on nine mobile operators for failing to meet quality of service benchmarks in the second quarter ended June 2013, official sources said.
RIL is also set to file its tariff plans, which will mark the company's intent to commercialise Jio's operations, with the regulator this week
Videsh Sanchar Nigam Ltd may have to take a hit of upto Rs 80 crore (Rs 800 million), with the Tatas-owned company losing a substantial ISD traffic originating from telecom PSU Bharat Sanchar Nigam to Reliance Infocomm.
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.
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
Surprisingly, RIL scrip also fell by 2.73 per cent to 1,029.15, becoming the second biggest loser in the index
Reliance has around 90,000 telecom towers now, half of which are operational and owned by the RIL and rest on lease.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
The CAG has suggested canceling nationwide broadband spectrum allocated to Infotel Broadband Services, now a Reliance Industries company, for allegedly rigging the auction and violating rules.
TRAI may recommend the DoT to levy one-time non-refundable fee of Rs 50,000 per operator for each service area in which they opt for spectrum sharing.
Country's largest telecom player Jio has completed 5G coverage planning in top 1,000 cities and conducted field trials of its home-grown 5G telecom gears, Reliance Industries said in its annual report. In the report, RIL (Reliance Industries Limited) said that Jio took major steps during 2021-22 in getting ready for 5G with its 100 per cent indigenous technology. The company was the biggest bidder in the recently-concluded 5G spectrum auction.
In the latest move, the telco has reduced validity for its Rs 309/509 packages from 84 days to 56
Reliance Infocomm led the tally of the basic subscribers with 58.8 lakh (5.88 million) till December 2003, while the all-India subscriber base rose to 81.13 lakh (8.113 million) in December from 75.63 lakh (7.563 million) in November last year.
Globally, the focus has moved back to India, especially in terms of telecom assets. Vodafone Idea, with some 300 million customers, continues to be attractive with shares available at a low price.
Readying itself for a bank licence, Anil Ambani-led group's Reliance Capital on Wednesday said Japan's Sumitomo Mitsui Bank and Nippon Life would become its strategic partners in the proposed banking venture, with each having 4-5 per cent stake.
Airtel, Vodafone, Idea, RCom, Reliance Jiosubmitted applications.
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
With the State Bank of India moving the National Company Law Tribunal's Delhi bench to enforce the personal guarantees of Ambani, it will delay the recovery of dues by the Chinese banks which won a UK court order in May this year.
The broader Nifty of National Stock Exchange scaled the 10,200 mark intra day before closing at 10,184.85, showing a sizeable gain of 38.30 points, or 0.38 per cent.
Experts argue that the cost savings both in terms of capex as well as operating costs can be substantial in the next one to two years.
The company is offering its own devices under the brand name Lyf along with other brands to employees at a 25 per cent discount.
It has suggested OTTs be subject to the same security requirements that a traditional TSP has to adhere to.
In what could be one of the largest launches in the telecom services space, Reliance Jio Infocomm is set to roll out its 4G LTE services in 800 Indian cities between April and June next year.
The Anil Dhirubhai Ambani Group company Reliance Communications, which is in the process of bidding for Hutch-Essar, is planning to list its undersea cable business unit Flag Telecom in London to raise over $500 million.
