Idea has slashed prices by up to 67% for 3G/4G internet packs for both post- and pre-paid users.
'These are capex and infrastructure-linked sectors, PSUs or stocks of some corporate houses.'
The Supreme Court on Tuesday granted 10-year time to telecom firms like Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the Adjusted Gross Revenue (AGR)-related dues to the department of telecommunications with certain conditions.
Benchmark equity indices Sensex and Nifty declined nearly 1 per cent on Wednesday, falling for the fourth day running amid profit-taking by cautious investors ahead of the results of the Lok Sabha polls. The 30-share BSE Sensex declined 667.55 points or 0.89 per cent to settle at 74,502.90. It went below the 75,000 mark to hit the day's low of 74,454.55, plunging 715.9 points or 0.95 per cent.
Among Sensex shares, HCLTech, Asian Paints, Maruti, JSW Steel, TCS, SBI, ITC and Bharti Airtel were the major losers. On the other hand, Bajaj Finserv, Mahindra & Mahindra, Titan, L&T and Wipro were the major gainers.
Among the Sensex firms, Power Grid, HDFC Bank, Kotak Mahindra Bank, Reliance Industries, NTPC, State Bank of India, Tata Steel and Bharti Airtel were the major gainers. Bajaj Finance, Axis Bank, HCL Tech and Mahindra & Mahindra were among the major laggards.
With the Adanis submitting an earnest money deposit (EMD) of just Rs 100 crore on Monday for the upcoming 5G spectrum auction, the apprehension among the rivals that the group is nursing ambitions of being an all-India mobile player has been allayed at least for now. Based on its EMD, analysts say it can buy spectrum worth just Rs 900 crore, whose use will be limited to enterprises and captive networks -- that too is likely only in a few circles where it has its infrastructure like ports, airports, and power stations. While getting all-India millimetre band spectrum of 400 MHz (which costs Rs 2,800 crore) is ruled out, it might choose circles like Gujarat and Mumbai to start with.
Reacting to the statement Jio said that the admission by Ookla reinforces Jio's submission that there is a clear contamination in primary data collected by Ookla in India, where nearly 90 per cent of smartphones are dual SIM devices
Consolidated net debt of Airtel increased by 24 per cent to Rs 97,395.2 crore.
It is believed that apart from Bharti Airtel and Bharti Infratel, there are four players that have made a bid.
Among Sensex firms, Bajaj Finserv and Bajaj Finance fell by over 4 per cent each. Nestle, Infosys, Tata Consultancy Services, Wipro, UltraTech Cement, HCL Technologies, Larsen & Toubro and Hindustan Unilever were the other major laggards. Bharti Airtel, State Bank of India, Sun Pharma and NTPC were among the gainers.
Vodafone and Bharti have pointed out that, for data, their revenue realisation should be at Rs 30-35 per GB for them to cover their costs as opposed to the current figure of over Rs 11 per GB. But Jio has suggested a gradual increase to Rs 15 per GB and then maybe to Rs 20 per GB after six to nine months.
Investors' wealth eroded by Rs 6 lakh crore in a single day on Wednesday as the BSE benchmark Sensex tumbled over 790 points. The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88. During the day, it slumped 872.93 points or 1.19 per cent to 72,222.29.
Asian Paints, Axis Bank, UltraTech Cement, IndusInd Bank and Bajaj Finance were also among the gainers. The NSE Nifty rallied 171.25 points or 1.52 per cent to 11,449.25.
Bharti Airtel's total revenue for the December 2018 quarter stood at Rs 20,519 crore, just one per cent higher than the Rs 20,319 crore in the corresponding period of the previous year.
With this acquisition, Airtel will be second company, after Reliance Jio, in the country to have pan-India presence in 2300 Mhz band
The market valuation of Reliance Industries, the country's most valued firm, is fast nearing the Rs 10 lakh crore mark, surpassing British energy major BP Plc.
Under another plan, it will offer unlimited voice calling along with 100 SMS per day, 5GB 3G/4G data and free subscription to Wynk Music and Wynk Movies for Rs 1,599
Among Sensex shares, Tech Mahindra fell by over 6 per cent after the company reported a 60 per cent decline in net profit to Rs 510.4 crore in the December quarter. Bharti Airtel, ITC, HCL Technologies, Asian Paints, Wipro, HDFC Bank, Nestle, Tata Steel, Tata Consultancy Services and Maruti were among the other major laggards. NTPC, ICICI Bank, IndusInd Bank, Reliance Industries, JSW Steel, Bajaj Finance, Bajaj Finserv and Mahindra & Mahindra were among the gainers.
The next spectrum auction will be held in late February 2024 and the reserve price for most bands will remain the same as the 2022 auction, department of telecommunications (DoT) officials have said. The government expects operators to go for low bands beginning in 600 megahertz (MHz), licences for many of which are lapsing soon. Back in September 2021, the government had decided that spectrum auctions should be held annually.
The market capitalisation of listed companies on the NSE surpassed $5 trillion (Rs 416.57 trillion) on Thursday on a day when the Nifty 50 index touched an all-time high of 22,993.60. The Nifty 500 index also touched an all-time high of 21,505.25 on Thursday indicating that growth in the equity market is not restricted to only the large capitalised stocks, a statement by NSE said.
Tata Steel, Tech Mahindra, NTPC, JSW Steel, Power Grid, UltraTech Cement, HCL Technologies and HDFC Bank were among the major gainers. Bharti Airtel, Hindustan Unilever, Axis Bank, Reliance Industries, Kotak Mahindra Bank, ICICI Bank and IndusInd Bank were among the laggards.
Airtel reported a 19 per cent rise in its ARPU in the March quarter, as it removed the non-paying users from its network.
Trai has said the three operators were "intentionally denying and delaying" the provision of points of interconnects (PoIs) to Jio, "only to restrict a new entrant thus violating the terms and conditions of licence and regulations of the Authority which also caused a lot of inconvenience to the consumers."
At the same time, seven companies from the coveted list witnessed a decline in their market valuation last week, but their cumulative loss of Rs 37,701.1 crore was less than the total gain made by three firms.
Airtel Digital TV, the DTH arm of Bharti Airtel, is launching its High Definition service, with set top boxes (STBs) priced at Rs 2,840, further fuelling the price war in the sector.
Loop Mobile has debt of Rs 400 crore (Rs 4 billion), which is likely to be included in final deal size.
Among the Sensex firms, Wipro jumped over 6 per cent after the IT company's December quarter earnings beat estimates. The other prominent gainers were HCL Technologies, HDFC Bank, Infosys, Tech Mahindra, Bharti Airtel and Reliance Industries.
Firms come out with detailed communiqu for consumers that counter Jio's claims of cheap data
Average data usage on Airtel India network grew about three fold to 2611 megabyte (about 2.5 GB) per customer from 904 MB on YoY basis. But the average revenue from the data services per customer declined by 22.7 per cent during the period.
The BSE market breadth was positive. Out of 3,004 stocks traded, 1,605 advanced while 1,277 declined.
These customers will be unable to meet the lowest recharge requirements for Jio, meaning they will either exit the market or migrate to BSNL/MTNL.
Total revenue dropped by 10.5 per cent to Rs 19,634 crore in the fourth quarter of 2017-18
Reliance Industries closed more than half a per cent higher after the company announced a proposed merger of media and entertainment assets of Viacom18 with Star India. Hindustan Unilever, Bharti Airtel, Tata Motors, ITC, Tech Mahindra and Axis Bank were among the laggards.
In a dig at Jio's Rs 1,500 4G-enabled feature phone, the Sunil Bharti Mittal-led company said its smartphone would be made available for the price of a feature phone
Airtel on Wednesday said its customers can enjoy free unlimited incoming calls on international roaming while travelling to popular destinations like the US, Canada, the UK and Singapore.
Benchmark stock indices Sensex and Nifty rallied more than 1.6 per cent to close at lifetime high levels on Thursday following buying in banking, oil and auto shares and a record dividend payout by the RBI to the government. Regaining the 75,000 level after its best single-day gain since January 29, the 30-share BSE Sensex closed at all-time peak of 75,418.04, up by 1,196.98 points or 1.61 per cent over the last close.
Qualcomm launched its new affordable, India-designed chipset, the Snapdragon 4s Gen 2, on Tuesday. This chipset will enable mobile device makers to sell 5G smartphones operating on a standalone (SA) network for Rs 8,300 or less.
Among the Sensex firms, Bajaj Finance, JSW Steel, Reliance Industries, Mahindra & Mahindra, ITC, Tata Consultancy Services, Wipro, HDFC Bank, Larsen & Toubro and Bharti Airtel were the major laggards. Sun Pharma, NTPC, State Bank of India, IndusInd Bank and Axis Bank were the major gainers.
Among the Sensex constituents, as many as 16 stocks closed with losses with Nestle India, Kotak Mahindra Bank, IndusInd Bank, Bajaj Finserve, Titan and JSW Steel being the major laggards. Index major Reliance, Hindustan Unilever, Maruti and Tata Steel also declined due to selling pressure. In contrast, NTPC, TCS, Tech Mahindra, Bajaj Finance bucked the trend and ended the day in green. Axis Bank, Bharti Airtel, Mahindra & Mahindra and Tata Motors also defied the trend.
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