'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.
If Modi's truly a reformer and a believer in minimum government, he would bury the Vodafone ghosts now. He would also then go to Bihar, campaigning on his politically controversial reforms. Both will need him to dip deep into his accumulated political capital and risk it, suggests Shekhar Gupta.
The Vodafone India head said hope is high now with the new government coming with a strong mandate and he is sure that the new government will quickly start to address some of the blocking factors for stronger economic growth.
The Supreme Court on Friday issued notices to Bharti Airtel and Vodafone on a BSNL petition, seeking that the private telecom operators pay interconnection charges, along with penalty, for transferring to its network their calls that did not identify phone numbers.
Bharti may look at gaining market share pre-merger and benefit from a lower capex intensity
As the court is closed for the winter recess, the fate of the new plea will be known only in February.
Telecom operators Vodafone and Idea Cellular on Monday said they will resume 3G services in circles where they don't have spectrum through intra-circle roaming (ICR) pacts with other operators.
The chief of the British telco's Indian subsidiary, which is the second largest cellular operator in India, also said the recent decisions by telecom authorities have disappointed the sector.
With better than expected Rs 1.45 lakh crore bids coming in on the first day, the auction of 5G spectrum entered the second day on Wednesday with the opening of the fifth round. Firms run by tycoons Mukesh Ambani, Sunil Bharti Mittal and Gautam Adani as well as Vodafone Idea are participating in the e-auction to buy fifth-generation (5G) airwaves. The government received confirmed spectrum bids worth Rs 1.45 lakh crore after the completion of four rounds of spectrum bidding on the opening day on Tuesday.
Telecom operators Bharti Airtel, Reliance Jio and Vodafone Idea on Tuesday submitted applications to participate in the Rs 3.92 lakh crore spectrum auction scheduled to start from March 1, according to official sources. This round of auction will be held for 2,251.25 Megahertz (MHz) in seven frequency bands -- 700 Mhz, 800 Mhz, 900 Mhz, 1800 Mhz 2100 Mhz, 2300 Mhz and 2500 Mhz -- at a cumulative base price of Rs 3.92 lakh crore. "Bharti Airtel, Reliance Jio and Vodafone Idea have submitted applications (for the spectrum auction)," an official source told PTI.
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.
Prime Minister Narendra Modi on Saturday inaugurated the 6th India Mobile Congress at Pragati Maidan in Delhi and launched 5G services. The 5G telecom services seek to provide seamless coverage, high data rate, low latency and highly reliable communications system. The three major telecom operators of the country demonstrated one use case each in front of the prime minister to show the potential of 5G technology in India.
The merger will result in substantial cost and capex synergies with an estimated net present value of around USD 10 billion after integration costs and spectrum liberalisation payments, with estimated savings of USD 2.1 billion annually from the fourth year of the merger.
While Vodafone will hold 45.1% of the shares in the new entity, to be renamed at a later stage, Kumar Mangalam Birla and other promoters of Idea group will hold 26%. Vodafone India will also transfer 4.9% of its shareholding to Idea's promoters for a cash consideration of Rs 38.74 lakh crores.
Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said. Applications for participating in the July 26 auction of airwaves, including those capable of providing fifth-generation or 5G telecom services such as ultra-high-speed internet connectivity, closed on Friday with at least four applications. Jio, Airtel and Vodafone Idea -- the three private players in the telecom sector -- applied, three sources with knowledge of the matter said.
A lot of mid and small-caps are in the bubble zone and command high valuation and have corrected sharply.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
These circles account for 23 per cent of Bharti's revenues and armed with additional spectrum, it will eat into rivals' share
According to a Deutsche Bank report, the Idea-Vodafone combine will have to pay a 30 per cent lower annual installment on spectrum due to the longer duration of the payment tenure.
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The Indian government has paid Cairn Energy Plc Rs 7,900 crore to refund taxes it had collected to enforce a retrospective tax demand, ending a seven-year-old dispute that had tarred the country's image as an investment destination. The company, which is now known as Capricorn Energy PLC, in a statement said it has received "net proceeds of $1.06 billion", of which nearly 70 per cent will be returned to the shareholders. The tax department had used a 2012 legislation, which gave it powers to go back 50 years and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India, to seek Rs 10,247 crore in taxes from Cairn.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Amit Shah's net worth grew 32 per cent to Rs 37.91 crore, mainly due to 80 per cent appreciation in the market value of his securities.
Demand for 1,800-MHz weak but govt secures a combined Rs 42k cr on Day-1
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
When it comes to the number of phone bill disputes, Vodafone, Idea Cellular, BSNL and Aircel were high on the list in several service areas during the quarter ended June.
However, the number of transactions declined to 76 in January-March this year from 110 in the year-ago quarter.
Apart from the Google team led by AI scientist Manish Gupta, the company will also partner with the research community across the country to focus on tackling challenges in fields like healthcare, agriculture, and education.
The Godhra inquiry panel on Saturday ordered two mobile service providers to provide the call details of Gujarat ministers, legislators, police officials and Chief Minister Narendra Modi, during the post-Godhra communal riots.
A senior company executive said the company waited for seven years for the verdict and its shareholders needed to know when it would be concluded.
Modi uses communalism only during elections. In the last five years, we haven't faced riots. Muslims have had no problems whatsoever in the last five years. Modi is only indulging in the business of communalism to trade communalism for votes. The politics of Gujarat is such that if they don't use communalism, Modi can't return to power.
Customers of Vodafone, Idea Cellular, Tata Teleservices and BSNL in some circles have reported maximum discrepancies in their phone bills, according to a latest report by telecom regulator TRAI.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Soft drink major Coca Cola's Rs 549 crore (Rs 5.49 billion) proposed investment in its Indian arm was among the 25 FDI proposals totalling 773.52 crore (Rs 7.73 billion) cleared by Finance Minister P Chidambaram on Thursday.
Govt's revenue estimates may take hit on spectrum sharing, trading deals
The auction started off with the 36th round this morning. At the end of 35 rounds on Friday, bids worth around Rs 54,600 crore had been received by the government.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The government plans to take India into the top 50 ranks in ease of doing business in the next two years with efforts such as shifting all applications for industrial licenses online.
The launch of cheaper voice call rates through special tariff vouchers has come at a time when the sector has been seeing frequent increase in mobile call prices and reduction of discounts under schemes of various service providers since mid-2011.
A senior official in the central labour commissioner's office said the efforts of the government were to resolve the cases amicably and not to press for legal action against employers. "Everyone is going through tough times. We could initiate legal action if we want but that's not the idea. We want to address the issues amicably," the official said.
India can attract significant FDI, says experts.
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