When on October 24, the Supreme Court, on a petition moved by the government, ordered payment of past dues according to its new definition of AGR, the country's second-biggest carrier Vodafone-Idea Ltd warned of shut down if no relief is given. The total dues for the industry ran into a whopping Rs 1.47 lakh crore. For an industry that has come from 7-8 operators to just three private players and state-owned fourth operator, the warning by Vodafone-Idea sounded like a death knell.
Since August 2013, FIPB has approved two FDI proposals in the telecom sector.
Disgraced former Australia captain Steve Smith has tied up with the local arm of Britain's Vodafone Group in an advertising campaign that leverages the nation's ball-tampering shame for marketing purposes.
Attempts to access the website opened up a page with the message: This site has been blocked as per instructions from the Department of Telecommunications
Every service provider, say analysts, now needs to make a much larger investment, and therefore needs a much larger share of the market to be profitable.
Vodafone Idea, the promoter of Aditya Bira Idea Payments Bank, said in a notification to the exchanges late on Friday that the board of the bank approved winding up the business, subject to approval from the Reserve Bank of India.
This is the biggest equity-raising exercise by an Indian corporate within a financial year. The fundraising - led by Citibank, Goldman, Kotak and Axis Capital as bankers - will see participation by foreign and domestic institutional investors.
Says, Jio unlikely to gain 2% revenue market share in 2017
Cairn files notice against India in $1.6 billion tax dispute.
New Delhi is also set to top its target of raising at least $13 billion.
The company, which had made voluntary disclosures about the bribery incident to the US authorities, also said with this resolution, there was no pending investigations against Cognizant.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
With the objective of making the country a manufacturing hub for domestic and foreign companies, Prime Minister Narendra Modi is launching the NDA government's "Make in India" campaign today.
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.
As India's largest drugmaker unveiled a deal worth up to $4.6bn to sell control to Daiichi Sankyo of Japan, the disbelief at the press conference was palpable.
Tata DOCOMO has announced its intention to launch 3G services around Diwali. Vodafone Essar plans to roll out 3G services by the first quarter of next year.
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.
Historically, public sector units were conceived of under the assumption that they will control the 'commanding heights' of the Indian economy, which were necessary for rapid industrial growth but where private investment was unwilling to enter.
The network has been built by six telcos to handle high bandwidth demands of emerging technologies and applications.
The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector.
The final Test in Brisbane will start on January 15. The series is locked 1-1 after the third Test ended in a draw.
Mukesh Ambani's Reliance Jio, however, continued to add wireless subscribers
'Appellants may not lap up the scheme because, first, to do so would amount to admission of guilt, and second, they may have smelled victory before higher appellate forums,' notes S Murlidharan.
Top companies have grabbed a bigger pie of their sectors in the pandemic period, leading to a further rise in market concentration in many industries as measured by the Herfindahl-Hirschman Index (HHI). The HHI score, which indicates competitive intensity in an industry (or a lack of it), reached a new high in FY21 as bigger firms raised their revenue market shares either organically or through mergers and acquisitions. A higher HHI score indicates a rise in market concentration in favour of a few firms while a lower score means that the industry's revenue is more evenly divided among many companies
With slower than expected growth in smartphone penetration, operators and OEMs are joining hands to provide affordable mobile devices with attractive offers.
Apex telecom industry body COAI has asserted that spectrum pricing should be kept conducive to market conditions as 5G entails upfront capital investments with monetisation spread over a long-haul, and pricing radiowaves high will only push the players up against the wall. The stage is set for Telecom Regulatory Authority of India (TRAI) to come out with its recommendations on 5G spectrum pricing and other modalities for upcoming auctions, and the announcement from the sector watchdog is expected anytime now. Norms will also be worked out for new frequencies such as 526-698 MHz and millimetre band, that is 24.25 - 28.5 GHz, in addition to bands such as 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3300-3670 MHz.
Total wireless subscribers increased from 1.1 billion, in January to 1.2 billion in February, thereby registering a monthly growth rate of 0.72 per cent.
During the visit organised by the UK India Business Council and UK Trade and Investment, 129 delegates, including business leaders Vittorio Colao, CEO, Vodafone; Lord Meghnad Desai, noted NRI economist; Terry Hill, chairman, Arup; Evelyn de Rothschild and Gerry Grimstone of Standard Life will visit New Delhi, Pune and Mumbai.
Telecom industry body COAI has approached the information technology ministry for removal of fake and misleading messages from social media platforms like Facebook, Whatsapp and Twitter linking spread of COVID-19 to 5G technology. The Cellular Operators Association of India (COAI), whose members include Reliance Jio, Bharti Airtel and Vodafone Idea, said the claims linking 5G with coronavirus are baseless as 5G networks have not yet been installed in the country and even 5G trials are yet to be started by the telecom operators. In a letter dated May 15 to MeitY additional secretary Rajendra Kumar, COAI director general S P Kochhar said: "To safeguard the national interest, we request your good office to kindly instruct all the social media platforms such as Facebook, Watsapp, Twitter, etc, to remove all such posts and misleading campaigns from their platforms on an urgent basis." People have been sharing audio and video messages on social media platforms in which 5G towers are being blamed for rise in casualties across the country even though none of the companies have installed 5G technology anywhere in India.
It will be available in 42 languages, including six Indian languages - Hindi, Bengali, Tamil, Kannada, Gujarati and Marathi.
According to JP Morgan, it seems that Jio is willing to go for the jugular in chasing market share if this hurts some of its standing rivals like Vodafone and Idea to a point from where they find it difficult to fight back.
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.
India's tax authorities began investigating Cadbury in 2011.
The Cabinet approved giving Bharti Airtel, Vodafone Idea Ltd and Reliance Jio an option to avail of a two-year moratorium on payments they were supposed to make in yearly installments for the spectrum bought in auctions.
Banks have Rs 10 trillion in stressed assets - Rs 7.8 trillion of bad loans and Rs 2.2 trillion of restructured ones.
Over the past one-and-half years, the number of stocks trading below their respective face value has increased 29 per cent after a sharp correction in stocks of small-cap companies.
Apart from digital advertising revenue, both companies want to reach out to the 'next billion' Indian customers. After all, around half of the 1.3 billion population is still not on the net and this represents a challenge as well as an opportunity.
Cabinet will take a decision on a conciliation offer from Vodafone.
Sources say companies will have to keep the market share of merged entities below 50% in all circles
