Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
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.
The announcement quells fears among some telcos that Chinese players might be banned from participating in 5G trials and roll outs.
Denial of interconnection "appears to be with ulterior motive to stifle competition and is anti consumer", Trai said.
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.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
The overall wireless subscriber base increased to 114 crore at the end of June
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.
Revenue soared 6.2 per cent to Rs 20,602.2 crore for the three months ended March 31, 2019.
RCom on Friday announced appointment of Deepak Khanna as CEO, India Enterprise Business.
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.
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.
The company's revenue rose 23.9 per cent to Rs 101,169 crore
Apple's newest phone iPhone 14 will be made in India as the global tech titan bets big on the manufacturing prowess of the world's second-biggest smartphone market after China.
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.
Revenue jumped 54.5 per cent to Rs 156,291 crore.
While Airtel may be pushed to to No 3, Jio will find it mighty difficult to beat the new entity.
A number of investment banks in their research reports on Wednesday hailed the deal, saying it was strategic in nature for both cash-rich RIL and debt-laden RCOM.
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.
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.
Over a third of Ambani's speech was focussed on RIL's plans.
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 new proposals will lead to complex processes and huge costs for telecom service providers, without any substantial benefits: COAI
CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.
It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid.
The partnership will also see the two parties cooperate on technology initiatives, including development of affordable smartphones.
The long-overdue consolidation makes indebted RCom an even more attractive partner for a soon-to-launch upstart led by older brother Mukesh.
It reported a record net profit of Rs 36,075 crore for the 2017-18 fiscal, up 20.6 per cent.
Indian telecommunications companies are ringing louder. Bharti Airtel and Reliance Communications are among the big league of gloal telecom companies.
Investors turned cautious weighing weak GDP numbers and continued drop in automobile sales, bringing banking and auto sector stocks under pressure.
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.
Incoming charges while roaming have been a hindrance to worry-free usage
Analysts believe making mobile data more affordable will fuel mass market adoption of data services
COAI sid the huge volume of traffic from RJio will pull down the weighted average voice realisation for other operators from 30-40 paise to 22-25 paise per minute or lower
The UAE-based Emirates Telecommunication Corporation (Etisalat) on Thursday filed a petition against Shahid Balwa and Vinod Goenka, promoters of the beleaguered Swan Telecom, for "fraud and misrepresentation".
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.
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.
