In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
In order to determine whether this would be sound strategy for them, one needs to look at two issues: One, on the alliances being built globally between telcos, on one hand, and cloud service firms, on the other, especially with the advent of 5G; and two, how their business strategies in India will blend into with such a deal.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
Stock market barometers Sensex and Nifty ended marginally higher on Monday as rise in wholesale inflation capped early gains despite a positive trend in global markets. The 30-share index settled 32.02 points or 0.05 per cent higher at 60,718.71 with half of its constituents ending in green. The broad based Nifty edged up 6.70 points or 0.04 per cent to close at 18,109.45.
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.
Over a third of Ambani's speech was focussed on RIL's plans.
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.
Bajaj Finance was the top loser, tumbling 4.68 per cent, followed by Tech Mahindra, IndusInd Bank, ICICI Bank, SBI, Reliance Industries, Bharti Airtel and HCL Tech. NSE Nifty crashed 290.70 points or 2.43 per cent to 11,680.35.
Observing there was a 'wilful default', the Supreme Court last month held Ambani guilty of contempt of court and ordered the debt-laden company to clear the dues to Ericsson.
Total revenue dropped by 10.5 per cent to Rs 19,634 crore in the fourth quarter of 2017-18
The total value of India's top 100 brands has increased by 2 per cent, from $162.1 billion in 2020 to $164.9 billion in 2021, according to the latest Brand Finance India 100 2021 report. This uplift in brand value over the course of the first year of the pandemic is an impressive feat given the global economic crisis following the implementation of national lockdowns in March 2020, when business activity was brought to a halt, affecting both production and consumption. Among the brands that came on the top of the list include Tata Group, Reliance Industries, and Mahindra Group.
The long-overdue consolidation makes indebted RCom an even more attractive partner for a soon-to-launch upstart led by older brother Mukesh.
Incoming charges while roaming have been a hindrance to worry-free usage
The Big Two telecom companies have accelerated their moves towards this next-gen technology, though they have chosen very different routes to getting there.
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
Home minister heads several groups of ministers, including the one to decide the revival package for Bharat Sanchar Nigam and Mahanagar Telephone Nigam. His ministry also takes decisive calls on national security in relation to telecom operations as well as equipment and technology used in the industry.
Having missed most of the first three industrial revolutions, India has its chance to lead the fourth industrial revolution through a convergence of its IT prowess, ultra-high-speed internet connectivity and affordable smart devices, billionaire Mukesh Ambani said on Thursday. The richest Indian, who heads the nation's most valuable company Reliance Industries, said his group's telecom and digital unit Jio was conceived to provide the key ingredients needed to lead the fourth industrial revolution.
10 analysts estimated RIL's consolidated net profit at Rs 11,256 crore and nine analysts estimated revenue at Rs 1.5 trillion.
Bharti Airtel, Bajaj Finance, Bajaj Auto, Reliance Industries, Tata Motors, SBI, HUL, NTPC, ONGC, ITC and Asian Paints rose up to 2.19 per cent.
Jio's100-million subscribers target appears an uphill task in the next one month, believe analysts. Also, the existing subscribers are already witnessing slowdown in data speed thanks to the high traffic.
Jio says it has completed mobile number portability testing and is certified MNP-compliant
Indian telecommunications companies are ringing louder. Bharti Airtel and Reliance Communications are among the big league of gloal telecom companies.
The government will set up a centre of excellence for visual effects and gaming with help from the Indian Institute of Technology-Bombay.
Spectrum auction ends, brings Rs 1.09 tln to govt kitty.
BSNL, Tata Teleservices and Reliance Communications, who also provide GSM technology-based services, are not part of the report.
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".
'While investors in Reliance have had to play a game of patience for long stretches, for Anil the challenge is to do what used to be his brother's forte -- generating cash by putting assets in the ground and making things,' says T N Ninan.
Dr Reddy's was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries. On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
Experts attribute this trend to a combination of end of capital expenditure cycle, increased automation, RIL's preference for time-bound labour contracts, and telecom and retail's outsourced human resource model.
The rights issue price has been set at Rs 1,257 a share, a discount of nearly 14 per cent to the last closing price of Rs 1,459. The company had set May 14 as the record date for the rights issue, which meant shareholders as on that day would be eligible to apply. Shareholders will be able to apply for one share for every 15 shares held.
The effective cost of the fully made-in-India phone will be zero, as against the minimum Rs 3-4.5k cost for a smartphone, Ambani said.
Cellular Operators Association of India (COAI) and Association of Unified Telcom Service Providers of India (AUSPI) have opposed the proposal to compensate consumers.
Vodafone-Idea (Vi) has said the key hurdle it faces in raising fresh funding, despite interest from investors, is the 'pricing situation' which is also the reason why it has asked the Department of Telecommunica-tions (DoT) for another extension of the moratorium on payment of spectrum instalment by one more year. Responding to a question during an analysts' call on Friday after its quarterly results on the reason for the delay in fund-raising nine months after it was announced, CEO & MD Ravinder Takkar said: "We are in discussions with investors. There is continued interest in investing in the telecom sector in the country. "The biggest hurdle is that the overall industry is under stress because of the pricing situation." He said that once tariffs go up, it will create a significant amount of confidence.
HCL Tech was the top gainer in the Sensex pack, rallying around 5 per cent, followed by Tech Mahindra, Infosys, PowerGrid, Sun Pharma, L&T and Nestle India. NSE Nifty climbed 137.90 points or 1.03 per cent to 13,466.30.
Indian businesses' weak ability to compete overseas says much about the infirmities imposed by the intensity of government dominance of economic policy and the nature of this dominance, observes Kanika Datta.
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