The broader NSE Nifty fell 78.75 points, or 0.70 per cent, to close at 11,234.55.
For innovation, Bharti Airtel and ICICI Bank are followed by Infosys, TCS and HCL Technologies in the top five. These are followed by Anil Ambani-led Reliance Communications, Wipro, Satyam, M&M and Hindustan Lever (now known as Hindustan Unilever in the order of their rankings.
Analysts have pointed out that with the dues arising out of the SC judgment there could soon be only two private telcos in the country, and not three - Reliance Jio, Bharti Airtel and Vodafone Idea - as now.
The 50 million customers span mobile, broadband and fixed telephone services, with wireless segment estimated to be contributing as much as 96 per cent (47.99 million) of the total base.
'I was feeling so suffocated under Yogiji's rule.'
Sunil Mittal opined that all new GSM players will lose out in 3 years and Vodafone almost echoed this view.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Mittal and Ruia did not appear in the Special CBI Court on Monday while one of the accused, Canada-based NRI Asim Ghosh, who was the then Managing Director of accused firm Hutchison Max Telecom Pvt Ltd, is yet to be served with the summons issued against him in the case.
Mittal, Ruia and former Telecom Secretary Shyamal Ghosh appeared before Special CBI Judge O P Saini and the court adjourned the matter in pursuance of the order passed by the Supreme Court on April 18.
Just as his father Sunil Mittal ignited a revolution in telecom in India, Kavin is trying to do so in a space that represents the rapid convergence of two industries-the internet and telecommunications.
Both the accused placed on record the apex court's order and submitted separate personal bonds.
The court, after going through the apex court's order on separate petitions filed by Mittal and Ruia, listed the matter on April 16 for further proceedings. The apex court will hear their pleas on April 15.
Mutual funds (MFs) are set to be net sellers of Indian equities for the first time in the past seven financial years, having sold stocks worth about Rs 1.27 trillion so far in 2020-21 (FY21), making it the highest net sales on record in a financial year. MFs had been net buyers in the previous six financial years, including purchases of over Rs 1.41 trillion in FY18, Rs 88,152 crore in FY19, and Rs 91,814 crore in FY20. The last time they offloaded Indian equities was in FY14, when they net sold stocks worth Rs 21,159 crore. In contrast, foreign portfolio investors (FPIs) have ramped up buying in FY21, purchasing more than Rs 2.6 trillion worth of shares.
Top gainers in the Sensex pack included Bharti Airtel, Tata Motors, IndusInd Bank, Kotak Bank, Hero MotoCorp, Asian Paints and PowerGrid, which rose up to 2.53 per cent.
SBI was the biggest loser in the Sensex pack, shedding 2.40 per cent, followed by Yes Bank, Bharti Airtel, L&T, Sun Pharma, M&M, ICICI Bank, ONGC, RIL, Asian Paints, Vedanta and HUL, which lost up to 2.37 per cent.
Anil Ambani-controlled Reliance Communication Ventures Ltd, whose market cap has touched Rs 65,000 crore
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
SoftBank's Founder-Chairman Masayoshi Son has had strong lieutenants in the past who have faded from view in no time.
A rare bonhomie among three private telecom companies in raising tariffs coming on the back of a bailout package by the government may have helped the telecom sector avert a crisis but the challenges haven't ceased to exist as the industry faces a cash-guzzling task of rolling out 5G networks in the coming months. The sector that provides direct and indirect employment to millions is projected to see Rs 1.3 lakh crore to Rs 2.3 lakh crore of investments in the coming years in creating robust infrastructure and building telecom and network products that have been incentivised by the government through PLI and other initiatives. After years of cut-throat competition and the apex court ruling on payment of past statutory dues left some players in the lurch, billionaire Sunil Mittal's Bharti Airtel and struggling Vodafone Idea almost in tandem raised tariffs, taking the plunge they had long been talking about.
Indian mobile phone users will have to pay more if the service providers are charged for spectrum, which was earlier given free to the operators, chairman of the country's largest telecom company Bharti Airtel Sunil Mittal has said.
While Vedanta was the biggest gainer in the Sensex pack rallying 4.67 per cent, others included Tata Steel, ONGC, NTPC, Yes Bank, Infosys, Sun Pharma, Bharti Airtel, SBI, Bajaj Finance, L&T and RIL, rising up to 4.13 per cent.
Micky Jagtiani, owner of Landmark, the unlisted Dubai-based retail chain, has entered the list of 10 richest Indians compiled by Bloomberg.
On Monday, Ambani had said the Reliance group was open to join hands with Bharti Airtel for improving telecom network for 4G services in Punjab.
These trusts are being registered under a new framework.
Chiefs of leading telecom firms, including Sunil Mittal of Bharti Airtel, Anil Ambani of RCom and Vittorio Colao of Vodafone, met Telecom Minister Kapil Sibal on Wednesday and placed their views.
He feels that the reserve price set by the government for the 2G spectrum auction was very high.
Rashtriya Janata Dal president Lalu Prasad's 'samdhi' Chandrika Roy has been nominated by the Janata Dal- United from his traditional Parsa assembly seat, but name of the former Director General of Police Gupteshwar Pandey is missing from the list of 115 candidates released by the party on Wednesday.
India's 42 million mobile phone subscribers would swell to 100 million in next two years with the growth mainly coming from non-urban and non-metro circles, Bharti group CMD Sunil Mittal said on Friday.
This equity capital infusion is the country's largest-ever FDI.
Reliance Industries, which sold stake worth $21.7 billion in Jio Platforms, kept the league tables moving in spite of the pandemic.
Mukesh Ambani is also a member of the Prime Minister's Council on Trade and Industry.
In a pre-Budget meeting with Revenue Secretary Sunil Mitra, Ficci President Rajan Bharti Mittal said in view of the looming threat of a double-dip recession and another slowdown in western countries, the stimulus should not be rolled back in the Budget in February.
Sunil Mittal-led Bharti Airtel has become the world's third largest mobile operator with 303 million subscribers.
In an interview at the GSMA conference in Barcelona on Tuesday, Mittal broke his silence on the scam and the very public spat between Tata Teleservices and Reliance Communications: "My plea is that the industry shut their mouths; zip up and let the various investigative agencies do their job," he said.
Rejecting the demand of global retailers like Walmart, the government on Wednesday said there is no plan to relax the mandatory 30 per cent local sourcing norms for foreign players in the multi-brand retail sector.
If Vodafone Idea shuts, a bulk of the high-paying ARPU customers will move to Airtel as Reliance Jio does not have a comprehensive postpaid offering like it, and have aggressively preferred to play in the prepaid market. The bulk of Vodafone Idea customers use 2G phones and only a few of them use data. It will be easier for Airtel to woo these customers as they can shift seamlessly to its 2G network without changing handsets or even SIM cards,
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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