Zomato emerged as the biggest gainer, followed by Reliance, Nestle, Asian Paints and Power Grid.
A 39-year-old software engineer in Bengaluru lost Rs 11.8 crore to fraudsters who impersonated police officials and claimed his Aadhaar card was being misused for money laundering. The victim was threatened with "digital arrest" and tricked into transferring money to various bank accounts over a period of time, believing his family would be arrested if he didn't comply. The fraud occurred between November 25 and December 12, and police have registered a case under the IT Act and relevant sections of the Bharatiya Nyaya Sanhita (BNS) for cheating and cheating by impersonation. Further investigation is underway.
In a jolt to telecom firms, the Supreme Court has dismissed a batch of pleas filed by companies, including Vodafone Idea and Bharti Airtel, seeking correction of alleged errors in the Adjusted Gross Revenue. A bench comprising Chief Justice D Y Chandrachud and Justices Sanjiv Khanna and B R Gavai also rejected the plea of telcos seeking to list the curative petitions for open court hearing.
Essar Group co-founder Shashi Ruia has died after a prolonged illness. He was 80.
The Telecom Regulatory Authority of India's (Trai's) latest push to review its existing spam regulations and expand the definition of "commercial communications" is driven by an urgent need to tighten controls on autodialers or robocallers, and bulk messaging, according to official sources. This move, they said, comes in response to a surge in complaints against unregistered telemarketers (UTMs), which soared to 750,000 in just the first half of 2024, underscoring the necessity for a comprehensive overhaul of the government's anti-spam measures. Last week, Trai released a consultation paper aimed at revisiting the Telecom Commercial Communications Customer Preference Regulations, 2018 (TCCCPR-2018), the government's legal framework against spam.
Reliance Jio, the telecom business of the Mukesh Ambani-promoted conglomerate, is expected to go for an initial public offering (IPO) of over $6.25 billion either in the second or the third quarter of the calendar year 2025, sources said. Reliance Retail is likely to be listed around the same time with a short gap, it is learnt. The timing of the two IPOs, however, will depend on the company's assessment of the market conditions among other factors.
Reliance Industries Ltd on Monday reported a 5 per cent fall in the net profit for the July-September quarter, as weak oil refining and petrochemical business hurt operational performance.
After continuously bleeding subscribers for nearly two years, state-owned telecom services provider BSNL added 2.9 million users in July when its private-sector rivals raised tariffs by nearly 20 per cent. With BSNL keeping tariffs unchanged, many subscribers using entry-level plans shifted from Reliance Jio, Bharti Airtel, and Vodafone Idea (Vi), said analysts.
Tech and startup industry bodies have again pushed back against calls by telecom operators to bring over-the-top (OTT) services under a licensing regime similar to telcos, and open them up to taxation. Ahead of public consultations on the issue later this week, the Internet & Mobile Association of India (IAMAI), Nasscom and the US India Strategic Partnership Forum (USISPF), among others, have written to the government arguing against such efforts.
The defence ministry has eased rules for rolling out mobile towers, optical fibre and other telecom infrastructure gears in its area in line with the "Right of Way (RoW)" Rules notified by the Telecom Ministry in 2016. A copy of the new rules uploaded on Gati Shakti Portal on Thursday replaces "shared communication tower and other telecom infrastructure to extend communication network in military station/cantonments" issued in February 2018. As per the new rule, "... any application received for installation of under/overground telecom infrastructure of defence land shall henceforth be processed in accordance with the Indian Telegraph Right of Way Rules 2016 (as amended from time to time) formulated by the Department of Telecommunications" with some additional conditions.
As per the advisory of cyber-security agency CERT-In, a digital arrest is the one in which victims receive a phone call, an e-mail or a message claiming they are under investigation for illegal activities, such as identity theft or money laundering.
Israeli Prime Minister Benjamin Netanyahu struck a defiant tone as he testified in open court for the first time in Tel Aviv in his years-long corruption trial on Sunday.
If the fiscal deficit target of 4.9% of GDP has to be met for 2024-2025, which the government must in view of the uncertainties and challenges emerging both domestically and globally, the finance ministry may see in the composition of the current year's capex a sliver of hope, notes A K Bhattacharya.
The Telecom Regulatory Authority of India (Trai) may extend the deadline to whitelist URLs (Uniform Resource Locators), APKs (Android Package Kit), or OTT (Over The Top) links - through which it intends to curb their misuse -is likely to be extended by 30 days as only over 3,000 registered senders (businesses) have complied, officials indicated. According to Trai officials, over 3,000 registered senders have whitelisted more than 70,000 links, but many more (thousands of others) are yet to comply with the directive as the mandatory norms are set to come into effect from October 1.
Billionaire Mukesh Ambani's Reliance Jio is India's strongest telecom brand in India, ahead of Bharti Airtel and Vodafone Idea Ltd, according to brand intelligence and data insights company TRA. TRA, formerly Trust Research Advisory, in its 'India's Most Desired Brands 2022' ranked companies according to their brand strength. Reliance Jio topped the telecom category, followed by Bharti Airtel, Vodafone Idea Ltd and BSNL.
Former Indian Prime Minister Manmohan Singh passed away on Thursday night at the age of 92. He was brought to the emergency department of AIIMS Delhi in critical condition after "sudden loss of consciousness."
By acting now, you can step into 2025 with your finances in order and without unnecessary penalties.
Reliance Jio has urged telecom regulator Trai to come up with a revised paper on spectrum allocation for satellite communication alleging that it ignores the key point of ensuring level-playing field between satellite and terrestrial services. In a letter to the Telecom Regulatory Authority of India (Trai) chairman, Anil Kumar Lahoti, Reliance Jio has sought revision of the consultation paper on recommending rules for "terms and conditions for the assignment of spectrum for certain satellite-based commercial communication services".
Billionaire Mukesh Ambani on Thursday unveiled the next phase of growth at Reliance Industries Ltd, with retail and telecom worth over $100 billion each, doubling revenues and pre-tax profit in 3-4 years, new energy business becoming profitable by 2031, and core oil and chemical business continuing to be the robust growth engine. The sprawling conglomerate with interests in refining, oil and gas, petrochemicals, telecom, retail, and media is on track to more than double in size before the end of the decade, Ambani, chairman and managing director of Reliance, told company shareholders.
The National Informatics Centre uses AI to automate document analysis and detect fraud in government departments.
Foreign direct investment (FDI) inflows into India have crossed the $1 trillion milestone in the April 2000-September 2024 period, firmly establishing the country's reputation as a safe and key investment destination globally. According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), the cumulative amount of FDI, including equity, reinvested earnings and other capital, stood at $1,033.40 billion during the said period.
'He asserted in his usual jovial style that he was not an MBA like his audience at IIM-Ahmedabad but perhaps had an even better business degree: MBB'. 'He went on to explain to his perplexed, blue chip B-School audience that MBB stood for "Marwadi by birth"!' Shivanand Kanavi salutes Shashi Ruia, co-founder of the Essar group who passed into the ages on November 25, 2024 in Mumbai.
Bharti Airtel on Monday reported a 168 per cent year-on-year rise in consolidated net profit to Rs 3,593 crore for the September quarter, and the company unveiled top-level changes, including Gopal Vittal moving into the role of executive vice chairman on January 1, 2026. India's second-largest telco - that competes with Reliance Jio and Vodafone Idea in the Indian telecom market - clocked quarterly revenues of Rs 41,473 crore, 12 per cent higher than the year-ago period, aided by strong momentum in India and growth in Africa.
Market concentration in the country's telecom sector continues to scale new heights despite government bailouts of public-sector Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), and private-sector Vodafone Idea. The combined revenue (or net sales) share of the country's top two telecom operators - Bharti Airtel and Reliance Jio - in the sector's total reached an all-time high of nearly 72 per cent in FY23 from 70.4 per cent in FY22 and around 60 per cent in FY20. The net sales of Reliance Jio and Bharti Airtel India were Rs 1.67 trillion in FY23, up 18.6 per cent from the Rs 1.4 trillion a year earlier.
Taking cue from holy book Bhagwad Gita, the draft telecom bill has equated spectrum to the soul which remains immortal and has used the analogy to propose its use for continuity of telecom service of entities that face insolvency.
India's journey with 5G still has a long way to go. The country ranked 33 out of 39 in the 5G Connectivity Index for the second quarter of 2024, released by GSMA Intelligence. However, in areas like 5G revenue growth, data affordability, and video quality, India ranks among the best in the world.
Bharti Airtel was the biggest gainer in the Sensex pack, rising 2.37 per cent, followed by Mahindra & Mahindra, HCL Tech, Tata Motors, Tech Mahindra, HDFC Bank, Wipro, Tata Consultancy Services, Axis Bank and Nestle. Asian Paints, Hindustan Unilever, Bajaj Finserv and NTPC were among the laggards.
Social media giant Meta Platforms and Bharti Airtel on Monday announced a collaboration to jointly invest in telecom infrastructure to cater to the rising demand of high speed data and digital services in India. The announcement comes on the back of telecom operators' demand to share revenue with service providers to build networks. "Airtel and Meta will jointly invest in global connectivity infrastructure and CPaaS (communications platform as a service) based new-age digital solutions to support the emerging requirements of customers and enterprises in India," the statement said.
After subdued earnings in the first half amid global headwinds, India Inc is taking a cautious approach on their capital expenditure (capex) for the second half of the financial year ending March 2025, according to management commentary. Minutes from the October monetary policy meeting show the Reserve Bank of India's (RBI's) optimism about private investments picking up.
Reliance Industries Ltd has consolidated its balance sheet after the previous round of capex and is ready for the next level of growth, its chairman and managing director Mukesh Ambani said outlining plans from net zero to roll-out of True5G telecom network and retail. In the firm's latest annual report, he said in the world of volatility and uncertainty, India is shining as a beacon of stability and prosperity.
The board of Reliance Industries Ltd on Thursday approved issuing 1:1 bonus shares -- the first bonus issue in seven years. Reliance, the nation's most valuable company, had last issued bonus shares in September 2017.
The auction of radio waves used for mobile services saw a muted opening on Tuesday, with five rounds attracting bids worth about Rs 11,000 crore from telecom companies. The government has put over 10,500 Mhz spectrum in eight frequency bands -- 800 MHz, 900 MHz, 1,800 MHz, 2,100 MHz, 2,300 MHz, 2,500 MHz, 3,300 MHz and 26 GHz, valued at Rs 96,238 crore at base price, for auction.
Telecom service providers (TSPs) have begun to monitor and prevent spam calls since May 1, with the help of an artificial intelligence and machine language-based system acting on the Telecom Regulatory Authority of India's (Trai) latest directive on the matter, its officials told Business Standard. Touted as the first big technological measure against the growing menace of unsolicited commercial communications, all TSPs have confirmed to Trai that they have rolled out the AI/ML tool. The filter system works on the distributed ledger technology (DLT) platform used by TSPs, and is set to go for incremental updates, rules for which will soon be released, they added.
Telecom service providers have doubled down on their demands for a proposed fair-share charge (FSC) to be levied on major over-the-top (OTT) service providers, opening up the 6 GHz spectrum band and increasing the number of testing labs for telecommunication products. Telecom industry body Cellular Operators Association of India (COAI) on Wednesday said these were the topmost demands for Prime Minister Narendra Modi-led National Democratic Alliance (NDA) government. The industry body wants this additional capital expenditure to be borne by these Large Traffic Generator (LTGs) OTTs as a proposed fair-share charge.
Seventeen persons, including four hailing from Taiwan, were arrested by Ahmedabad Cyber Crime Branch for allegedly operating a nationwide 'digital arrest' racket, a Gujarat police official said on Monday.
"The team of senior officials have found that the mechanical parts of the interlocking system were opened. Normally, these parts get broken after an accident due to the heavy impact of the locomotive and coaches," a source, close to the inspection team, said.
The Tamil Nadu government on Tuesday cleared the Rs 13,180 crore project by Yuzhan Technology, part of Taiwan's Foxconn Group, at Kancheepuram. The unit is reportedly expected to assemble smartphone display modules, which will be one of the first such units to cater to Apple's growing presence in the country. The unit is expected to generate at least 14,000 jobs. Of the 14 existing manufacturing units in the Apple supply chain, seven are based in Tamil Nadu.
Consolidated earnings for oil-to-telecom conglomerate Reliance Industries (RIL) may report sequential weakness, and modest year-on-year (Y-o-Y) growth in the June 2024 quarter (Q1FY25), said analysts. Lower refining margins are expected to moderate gains made from other businesses. RIL is slated to report its financial performance for Q1FY25 on July 19.
Messages sent through Internet-based messaging service providers such as Whatsapp, Signal, and Telegram, as well as those which are encrypted, are understood to be within the Act's ambit.
For Reliance Industries Ltd (RIL), the September 2024 quarter (Q2FY25) may turn out to be yet another weak one as refining margins drag, say analysts. Two brokerage firms - ICICI Securities and Nuvama - expect a 1-13 per cent dip in reported profits in Q2FY25 from a year ago. Kotak Institutional expects a modest 2.2 per cent rise. Revenue, at best based on available analyst estimates, could rise up to 4 per cent.
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