Says govt and Vodafone would have a reasonable compromise.
For the fifth consecutive time, the Sydney Cricket Ground (SCG) will be splashed with pink for the Vodafone Pink Test featuring Australia and Sri Lanka, starting on Thursday.
Consumers can expect a 5G launch in the country soon. Telecom companies (telcos) say if auctions take place on time - the target is July - they would be able to offer some services in a few cities by the end of this year and a full roll-out from 2023. But the question is: will 5G turn the tables for telcos financially? Will average revenue per user (ARPU) improve? Will mobile consumers upgrade to 5G quickly and pay more? Will the expanded functions that 5G enables drum up sufficient revenues? In simple terms, will telcos make more money?
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Bharti Airtel chairman Sunil Mittal on Wednesday said the regulatory regime needs to be simple to avoid fresh litigations in the telecom sector, asserting that collaboration among competing players, lower duties and reduction in spectrum pricing will help unleash the full potential of the industry. The telecom czar noted that the "temperature" of the industry needs to be lowered when it comes to litigations and appealed to the government to look into the matter. The timely reforms that were announced brought in cheer and heightened comfort for all the active players in the sector, Mittal said and urged the industry counterparts to focus on building the next wave of connectivity in the run-up to 5G and beyond.
Telecom complaints against other players were below 500 in the first half of 2016.
'How can you explain the necessity of selling an institution that has been delivering regular returns to the government, that has never asked for any capital from the government, that has invested Rs 38 lakh crores in the Indian economy and that owns 4 per cent of the market capitalisation in India?'
A bench headed by Chief Justice S A Bobde took note of the submissions by a battery of senior lawyers including A M Singhvi and C A Sundaram and said it will list the fresh pleas "sometime in next week" before the same bench which had heard the earlier petition in the high-stake matter.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
The launch of Reliance Jio Infocomm Ltd last September, particularly the tariff war it has unleashed on its competitors, has deepened the crisis facing India's telecom sector. One offshoot of this is the major drop in earnings reported by industry leaders Bharti Airtel and Idea Cellular with each passing quarter. Aslam Hunani/Rediff.com tells the story in numbers.
Cairn Energy and Air India have jointly asked a New York federal court to stay further proceedings in the British firm's US lawsuit targeting the airline for enforcement of a $1.2-billion arbitral award. The move follows the government enacting a law to scrap retrospective taxation in the country, which in effect will result in withdrawal of the Rs 10,247 crore tax demand on Cairn, according to court documents reviewed by PTI. The British company had won an international arbitration award against levy of such taxes and sought to take over Air India assets when the government refused to honour the award and pay it $1.2 billion-plus interest and penalty.
Idea, Reliance and BSNL have call drop rates in the range of 10 per cent or above.
Bulk of these customers use 2G phones and are still focused on voice services and might prove useful for both Bharti Airtel and the Idea-Vodafone combine.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Global telecom industry body the GSM Association on Thursday said it has decided to cancel the 2020 edition of the sector's largest event Mobile World Congress due to health safety concerns around novel coronavirus outbreak.
CEOs expect to finish the ongoing March quarter with positive growth as the corporates get back to work in full strength.
Ambani's group companies are stated to have taken loans of about Rs 12,800 crore from the bank that turned NPAs.
Channel Seven has threatened to terminate its contract with Cricket Australia (CA) unless there is some clarity over a playing schedule, which has been compromised by COVID-19 restrictions.
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.
'Is it advisable to have more number of scrips in small quantities or a few scrips in big quantities?'
From spending a little less than three hours on making voice calls, Indians are spending well over 5 hours. So, while people make more calls, they are spending less than ever, reports Romita Majumdar.
Taking the pole position among other operators, Reliance Jio logged download speed of 19.12 mbps during April, even bettering its own performance of 18.48 mbps demonstrated in the previous month
Vodafone Idea (Vi) lost 12.4 million subscribers in the first quarter of FY22, the most since the fourth quarter of FY20, as the second wave of Covid hurt its operational and financial performance. Vi had managed to trim subscriber losses in the third and fourth quarters of FY21. However, it lost 12.4 million subscribers and its customer base shrunk to 255.4 million in the first quarter of FY22. Sequential fall in 4G users was modest, indicating that most of the loss was in the low-margin 2G segment.
A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax administration that include bringing a framework for cryptocurrencies and rationalising the GST rate structure. With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination. The task ahead is going to be a tough one as the tax department would grapple with taxing cryptocurrencies, rationalising Goods and Services Tax (GST) rates to shore up revenues and post June 2022, the scenario of how the GST revenue plays out for states without the Centre's support of compensation.
Vodafone Plc's trusted ally, Analjit Singh of Max India, has been appointed non-executive chairman of its India operations. He talks about the backdrop of the two recent Supreme Court verdicts.
Airtel reported a 19 per cent rise in its ARPU in the March quarter, as it removed the non-paying users from its network.
The retrospective tax decision reversing the January 2012 Supreme Court verdict in the Vodafone case has often been cited as the reason for foreign investors losing confidence in India as an investment destination.
The move comes against the backdrop of the US and some of its allies banning the purchase of Chinese telecom gear over security concerns and pressuring other countries to follow suit.
It will be the first ever Pink Ball Test the two sides play against each other.
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.
The telco, being one of the first operators in the circle, has a strong base of high-value subscribers; Airtel could leverage that for its top-end services.
Foreign-origin companies may still hold sway over consumer product and electronics companies but, in several areas, be it tractors, liquor or specialised financial products, it is the Indians who are the kings.
Changes have been made in several indices including Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250 and host of sectoral indices including FMCG, IT, media, pharma, commodities and services sector.
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.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
IndusInd Bank was the top loser among Sensex stocks, dropping by 4.38 per cent. SBI declined 2.41 per cent, HDFC Bank 1.77 per cent and Axis Bank fell by 1.5 per cent. Among others, auto, FMCG and power stocks also closed in the red.
Doha-based Qatar Foundation Endowment has bought five per cent stake for $1.18 billion in Bharti Airtel.
The Indian market is more in sync with mobile markets of advanced countries like the UK, Japan, and South Korea, where there are fewer players - three to four.
Slams Channel 7 for talking game down.
Finance ministry officials said they were scrutinising many deals, but the actual tax liability would depend on many factors, including the kind of payment (royalty, interest, stake sale) and the Double Tax Avoidance Agreement with the country where the foreign company was based.
