Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
Vodafone to invest 1.3-billion pounds in upgrading and expanding its network in India.
Jio's disruptive strategy, including free voice services and data at throwaway rates, apart from offering all services free for six months, triggered a consolidation in the telecom sector.
The companies have offered to pay upfront the principal amount due for licence fees and spectrum usage charges (SUCs) on the basis of adjusted gross revenue (AGR). This amount will not include the interest, the penalty, and the interest on the penalty.
In the not too distant future, you could see 5G technology being used for functions such as remotely-performed robotic surgeries, mine equipment operated remotely or cars driven by someone sitting hundreds of miles away. While these ideas will certainly find application globally, the urgent need for them in India could spur swifter adoption here than elsewhere.
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.
Analysts at rating agency ICRA say the debt level of the telecom companies is very high and the ecosystem for the premium band is not in place.
Revenue decline has left the operators with little money to service their mostly 3G and partly 4G infrastructure leading to poor data and voice quality.
Airtel operates as Airtel-Vodafone in Jersey and Guernsey to offer Vodafone trademarks in the British Channel Islands.
Mittal said he discussed a plethora of issues with Commerce and Industry Minister Piyush Goyal and sought the government's support for faster clearances to streamline the group's investment plans.
With a string of deals with telecom service providers, DTH operators and Bollywood stars, Netflix goes all out to protect its turf in India and fend off competition, says Viveat Pinto.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Cairn joins a slew of multinational firms including Vodafone Group Plc and Royal Dutch Shell Plc that have been slapped with retrospective tax demands by Indian authorities.
While the draft M&A policy for the telecom sector has been revised a few times over the past few months, DoT has not made any major changes to guidelines.
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
Arun Sarin is the chief executive officer of Vodafone Group Plc, the United Kingdom-based global mobile operator.
These circles account for 23 per cent of Bharti's revenues and armed with additional spectrum, it will eat into rivals' share
'Today, according to the law, you can't even claim legal expenses when fighting a case as a non-executive director unless you are acquitted. Given how high legal expenses are, that alone is enough to scare anyone away.'
Income will be higher as spectrum in 2,100-MHz band will also be auctioned
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.
Reliance Jio submitted the highest pre-auction deposit.
Just to promote govt's policy of Make in India, BSNL said, it cannot afford to procure sub-standard equipment from inexperienced companies, not having proven technology. BSNL complained that when competitors were procuring world-class 4G equipment from experienced vendors, why should BSNL be compelled to procure locally.
Bharti Airtel and Vodafone Idea have communicated to the telecom department that they will not pay AGR dues of Rs 88,624 crore, the deadline for which ended on Thursday, and will wait for the outcome of modification petition listed for hearing before the Supreme Court next week, according to official sources. Reliance Jio on Thursday paid Rs 195 crore to the telecom department to clear all adjusted gross revenue dues accounted till January 31, 2020, according to an official source.
While moving towards the new technology is compelling and inevitable, powering 5G would also mean massive initial investments for telcos, says Surajeet Das Gupta.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
From Rafale relief to heat on realtors, 10 landmark Supreme Court judgments in 2018.
If you are a Citibank credit card holder in Bangalore, and use a Vodafone mobile phone service on a Nokia 6212, you need not carry that Citi credit card anymore.
Telecom companies have been desperately waiting for a bailout package from the government after a Supreme Court order put their statutory liabilities at Rs 1.47 lakh crore.
The V150 has most of the basic features like voice, SMS and support for mobile payment services.
Ballooning debt forces more and more Indian promoters to sell out to global majors and PE players.
'I hope the trend is sustainable and that economic activity accelerates going forward.'
Experts say going ahead data price will fall further due to competition
However, the government is readying a relief package and it could include a cut in the licence fee to 5 per cent, two years' moratorium on paying spectrum charges with interest, and referring the GST tax refund issue to the Council.
Transfer pricing tax orders of Income Tax against Shell and Vodafone pertain to alleged undervaluation of shares issued by their domestic subsidiaries to the parent companies abroad.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Jaitley was reacting to a question by CNBC TV18 on Rajan's remarks last week.
Regulators will need to allow the model to evolve to allow profits to flow, says Una Gulani.
Vodafone debuted at 20th rank in this year's list, prepared by consulting firm Hay Group and Chief Executive Magazine. PepsiCo is down to 7th position from its third rank last year. In the 2006 list, Citigroup, now headed by another Indian origin banker Vikram Pandit, was ranked at fourth. However, it does not find a place in this year's list. Nagpur-born Pandit was named the CEO of Citigroup earlier this month, after his predecessor Charles Price stepped down last month.
CBDT circular issued last month had raised multiple taxation concerns.
Manoj Sinha will retain his current role in the railways.
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