Airtel CEO said, the 5G ecosystem is yet to develop in India and the prices are very high. Telecom companies including Vodafone Idea (VI) and Reliance Jio have also said that the current prices are exorbitant.
Bajaj Auto has amended its dividend distribution policy as it seeks to reward its shareholders and boost return ratios. The amended policy will also consider the surplus the company has when calculating the dividend payout as a percentage of profits after tax, the Pune-based firm said in a stock exchange filing on Thursday.
Sebi on Friday imposed a penalty of Rs 50 lakh on Kotak Mahindra Asset Management Company (AMC) and barred the fund house from launching new fixed maturity plan (FMP) scheme for six months for violating regulatory norms. The markets regulator has directed the fund house to refund a part of the investment management and advisory fees collected from the unitholders of the six FMP schemes along with a simple interest at the rate of 15 per cent per annum. The case relates to the fund house's investment in certain FMPs. These FMPs of Kotak AMC had invested in Zero Coupon Non-Convertible Debentures (ZCNCDs) issued by Essel Group entities.
Former New Zealand coach Mike Hesson has been appointed as head coach of IPL franchise Kings XI Punjab on a two-year contract. He will replace Australia's Brad Hodge.
The proposed reorganisation plan by Reliance Industries Ltd to transfer its refining, marketing and petrochemical (oil-to-chemicals) businesses to a wholly-owned subsidiary is a step towards facilitating participation by strategic investors in the unit, Fitch Ratings said on Tuesday. The reorganisation of the business in Reliance O2C Limited (O2C) "will have a neutral impact on RIL's credit metrics and rating," it said in a statement. The transfer will be on a "slump sale basis", subject to attaining the requisite approvals.
A government panel on Net neutrality has proposed to regulate domestic calls made using Internet-based calling applications such as Skype, WhatsApp and Viber at par with phone call services offered by telecom operators.
A monthly charge of Rs 500 is applicable if the net relationship value falls below the minimum level.
10 analysts estimated RIL's consolidated net profit at Rs 11,256 crore and nine analysts estimated revenue at Rs 1.5 trillion.
During February 2019, the highest number of 236,000 jobs were created in the 22-25 years age group, followed by 209,000 in the 18-21 years age bracket.
Images from the World Cup qualifying matches played on Wednesday night.
"We are delighted to welcome Google as a strategic investor in Jio Platforms. We have signed a binding partnership and an investment agreement under which Google will invest Rs 33,737 crores for a 7.7 per cent stake in Jio Platforms," Mukesh Ambani said at the company's annual general meeting.
In the rights issue, the company is offering one share for every 15 shares held at Rs 1,257. The rights shares are expected to be listed on the BSE and NSE on or around June 12.
Sebi has barred eight entities from the securities market for indulging in insider trading activities in the shares of Infosys. While imposing the ban till further orders on the eight entities, the watchdog also directed impounding illegal gains worth Rs 3.06 crore from two of them -- Capital One Partners and Tesora Capital. The entities have traded in the scrip of Infosys while in possession of Unpublished Price Sensitive Information (UPSI) pertaining to Infosys' financial results for the quarter ended June 30, 2020, Sebi said in an interim order passed on Monday.
In absolute terms, the outstanding book value of NPAs of LIC in the debt portfolio across life, pension and unit-linked funds is to the tune of Rs 32,685.39 crore at the end of December 2019.
Reliance Industries shareholders will have to pay only 25 per cent for subscribing to the company's mega Rs 53,125-crore rights issue, and the balance will have to be paid in two instalments in May and November next year, the company said.
'To simply let the rupee depreciate to any level according to market forces will not be in the country's interests.'
Asked about his fleet of luxury cars and other references to his lavish lifestyle as the counsel for the banks cross-examined him, the Reliance Communications chief dismissed them as "speculative" media stories.
Billionaire Mukesh Ambani's Reliance Industries has started a limited test use of WhatsApp to connect customers to grocery stores, days after Facebook decided to invest USD 5.7 billion in digital assets controlled by the company. JioMart, an e-commerce venture of Reliance Retail, "has already started interacting with customers on WhatsApp for grocery orders" in Navi Mumbai, Thane and Kalyan, Credit Suisse said in a report.
Jio to charge users 6 paisa/min for voice calls made to rival phone networks. However, these charges are not applicable on calls made by Jio users to other Jio phones and to landline phones and calls made using WhatsApp, FaceTime and other such platforms.
Justin Langer said the contest would likely be an exciting one thanks to the two teams being evenly-matched.
The deal, as well as some other strategic and financial investments in works, will help Ambani cut debt at RIL.
This puts an end to Facebook's Free Basics and Airtel's zero rating plans in India.
Though Google's investment is minuscule and will not move the needle, it will attract other investors to the company and be a morale booster. Pursuing Vodafone Idea would potentially pit Google against Facebook and an increasingly dominant Jio.
The top moments from the Beijing Winter Olympics on Sunday.
FB deal puts RIL on course to be debt-free next year; Reliance Retail biggest gainer from WhatsApp, JioMart arrangement.
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.
At the recently concluded Dubai airshow, Akasa, Rakesh Radheyshyam Jhunjhunwala's new airline, signed a $9 billion deal with American aircraft maker Boeing to buy its 737 MAX planes and a $4 billion one for engines with CFM, a joint venture between GE of the US and Safran of France. Unlike his financial doppelganger Warren Buffett, who divested billions from his airline stock portfolio at the start of the pandemic, Jhunjhunwala is wagering his billions in a brand new airline. The legendary investor bought a roughly 40 per cent stake in SNV Aviation in September, Akasa's holding company, started in March by three former Jet Airways colleagues. With aviation still to recover from its pandemic slump, the big question around his foray into domestic aviation, due to take off in summer 2022, is whether it is another pie in the sky.
Strategic direction post-COVID-19 and further details on asset monetisation are key expectations from the 43rd AGM of RIL, analysts said.
Tottenham Hotspur have shown impressive durability in the Premier League lately, but they will need to be at their most steadfast to deny champions and league leaders Manchester City who travel to Wembley on Monday.
Chelsea captain John Terry went from zero to hero, first netting an own goal but eventually coming up with a 98th minute equaliser in an extraordinary 3-3 draw with Everton in the Premier League on Saturday. Manager Guus Hiddink's unbeaten record survived after an amazing match that saw his side fall two goals behind soon after halftime, fight back to 2-2 and then seemingly throw away the points with poor defending which saw Everton sub Ramiro Funes Mori score in the 90th minute.
Amid criticism of its exposure to 'toxic' assets abroad, India's largest private sector lender ICICI Bank on Monday said its UK subsidiary has registered a $35 million (around Rs 160 crore) net loss for the half year ended September 30 on account of higher provisioning in its investments abroad.
Using the hashtag, SATYAGRAHagainstExamInCovid, many students also took to Twitter to appeal to the government to heed to their demands.
West Ham United's Michail Antonio has come to the defence of teammate Kurt Zouma, who has been targeted by fans for abusing his cats.
Images from Day 9 of Wimbledon at the All England Lawn Tennis and Croquet Club in London, on Wednesday.
Australia captain Finch willing to demote himself when Smith, Warner return
Billionaire Mukesh Ambani's Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.
More than 19 million people in 38 countries have been connected through Facebook's different programmes.
For any airline to be eligible for restructuring, the current ratio has to be equal to or higher than 0.4, while 'debt to Ebitda' has to be equal to or less than 5.5.
Chidambaram promises to maintain fiscal discipline; admits inflation is an issue.
