M-Cap of top 10 business groups went up by 46% this year.
"If we are not getting anything then I think it is end of story for Vodafone Idea," Kumar Mangalam Birla said at the HT Leadership Summit when asked about the future of Vodafone Idea in absence of a government relief on payment of Rs 53,038 crore dues.
RCom may get around Rs 4,500 crore by trading its radiowaves to Reliance Jio.
DoT still working on final AGR dues due to varying accounting practices. Telecom operators have been submitting two separate audited details of deduction towards interconnection usage charges and roaming fee to the DoT.
The announcement quells fears among some telcos that Chinese players might be banned from participating in 5G trials and roll outs.
On the Sensex chart, IndusInd bank, M&M, Reliance Industries, Tata Steel and Bharti Airtel emerged as the top losers.
The move will help telcos, including Reliance Jio, Vodafone, and Idea Cellular
JioFiber, India's first 100 per cent all-fiber broadband service, will start from 100 Mbps and go all the way up to 1 Gbps. This will propel India to top 5 broadband nations globally.
The Indian Navy has expressed reservations in vacating 100 Mhz of the spectrum, proposed to be sold in the tender expected next year, sources said. This could delay the Centre's plans to proceed with the 5G auctions in 2022. A department of telecom (DoT) official said, "The Indian Navy is showing reluctance in vacating the spectrum from the 3.3 GHz-3.4 GHz band that it is using. "Unless there is some traction with them on this issue, we can't seek consultation from TRAI." The 3300 MHz-3600 MHz (or 3.3GHz-3.6GHz) will be auctioned for the first time in the proposed 5G auctions, likely next year.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
M&M was the top gainer in the Sensex pack, rallying nearly 6 per cent, followed by Bajaj Auto, Titan, Bajaj Finance, HDFC Bank and PowerGrid.
Reliance Industries was the top gainer in the Sensex pack, surging over 3 per cent, followed by Bajaj Finserv, IndusInd Bank, HDFC twins and Kotak Bank. NSE Nifty surged 143.25 points or 1.18 per cent to 12,263.55.
Anil Dhirubhai Ambani Group stocks plummeted on Wednesday after ADAG chairman Anil Ambani reportedly met Telecom Minister Kapil Sibal.
Reliance Jio and Facebook will look to use WhatsApp for delivering goods from local neighbourhood kirana stores to consumers before expanding collaboration in education and healthcare sector, billionaire Mukesh Ambani said soon after announcing the mega Rs 43,574 -crore deal. "All of us at Reliance and Jio are delighted to welcome Facebook Inc," he said in a short video message posted on the group's social media handles.
The group's telecom arm, RCom, saw its shares plunge by 8.11 per cent to a low of Rs 71.35 in morning trade, while Reliance Capital tumbled by 9.91 per cent to a 52-week low of Rs 323.55 on the Bombay Stock Exchange.
The telecom industry is moving towards a five-plus one model.
Reliance Communications' tower business Reliance Infratel is likely to enter into an end-to-end telecom infrastructure agreement with Aircel for towers, voice carriage and bulk bandwidth worth about $300 million.
It's hard to say because of the winner-take-all nature of new platform and network businesses, but Reliance has not been an efficient user of capital, and Adani numbers are varied, observes T N Ninan.
Just to promote govt's policy of Make in India, BSNL said, it cannot afford to procure sub-standard equipment from inexperienced companies, not having proven technology. BSNL complained that when competitors were procuring world-class 4G equipment from experienced vendors, why should BSNL be compelled to procure locally.
BSNL offers 2GB data per day, unlimited calling for Rs 339
CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.
The overall wireless subscriber base increased to 114 crore at the end of June
Reliance Industries, which holds pan-India 4G telecom spectrum for data services, has applied for a licence to offer mobile telephony.
Revenue soared 6.2 per cent to Rs 20,602.2 crore for the three months ended March 31, 2019.
While Airtel's India wireless operational performance was one of its worst in recent times, Jio surprised the Street by reporting a higher expected operating and net profit.
Reliance Industries shareholders will have to pay only 25 per cent for subscribing to the company's mega Rs 53,125-crore rights issue, and the balance will have to be paid in two instalments in May and November next year, the company said.
The Telecom Regulatory Authority of India (Trai) has directed the Cellular Operators Association of India (COAI) to make a presentation detailing the pros and cons of the controversial Indian 5G standard, also known as 5Gi, which the government has been pushing for. The move comes after serious differences emerged among telcos with regard to the technology's efficacy and implementation.
Denial of interconnection "appears to be with ulterior motive to stifle competition and is anti consumer", Trai said.
Of the 23 Indian billionaires mentioned in the Bloomberg Billionaires Index, only one saw a reduction in net worth, with the companies owned by most of them outperforming the Nifty 50 index by a big margin.
The partnership will also see the two parties cooperate on technology initiatives, including development of affordable smartphones.
The company's revenue rose 23.9 per cent to Rs 101,169 crore
RIL mulls launching tablets at around Rs 3,500 and bundle it with data offering 1 GB at Rs 10, a tenth of the current 3G prices.
Revenue jumped 54.5 per cent to Rs 156,291 crore.
It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid.
According to sources in the agency, the counsel had been briefed about its stand which includes informing the apex court about 'certain moles' in the probe agency who were providing documents to people outside.
ONGC was the top loser in the Sensex pack, shedding 4 per cent, followed by Bharti Airtel, SBI, IndusInd Bank, NTPC, Sun Pharma and ITC. On the other hand, Bajaj Finance, Bajaj Auto, Reliance, Bajaj Finserv and Asian Paints were among the gainers.
Alphabet Inc's Google has paid Rs 33,737 crore for a 7.73 per cent stake in Reliance Industries Ltd's (RIL) digital subsidiary, Jio Platforms Ltd, joining the list of global investors such as Facebook, billionaire Mukesh Ambani's firm said. The transaction also marks the US technology giant's biggest-ever investment in an Indian company. With this, Jio Platforms has raised a total of Rs 1.52 lakh crore by selling nearly 33 per cent stake to 13 financial and strategic investors in just 11 weeks.
RCom on Friday announced appointment of Deepak Khanna as CEO, India Enterprise Business.
While Airtel may be pushed to to No 3, Jio will find it mighty difficult to beat the new entity.
The new proposals will lead to complex processes and huge costs for telecom service providers, without any substantial benefits: COAI
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