The telecom major has paid over $ 103 million to get the rights for eight years, which include two World Cups, the 20-20 World Cup and the Championship Trophy.
If good stocks were available at throwaway prices, penny stocks found no takers. For instance, Hari Gundecha faced a strange dilemma. He had made profits, buying into Harig Crankshafts when the stock was quoting at Rs 1.30 a share but he could not exit the stock on Tuesday. The stock had run up to Rs 7.61 a share and was quoting at Rs 4.48 a share on Tuesday.
Speaking at a press conference in Kolkata organised by TDSAT, N K Mangla, head of the regulatory department of Reliance Communication, said, "We plan to have a customer capacity of 8 million or 55 per cent of the population in 2008." Reliance also plans to cover 95 per cent of highways, 93 per cent of railways, 6,000 towns and five lakh villages in 2008. Currently, the company has 22,000 towers.
Bharti Airtel remained the top telecom pick of Indian companies followed by Reliance Communications, according to the latest report by world's leading financial management and advisory company Merril Lynch.
Flag Telecom, a fully owned subsidiary of Reliance Communications, is divesting 15-20 per cent of its equity stake to strategic and financial investors.
Total income rose 6.55 per cent to Rs 5,361 crore (Rs 53.61 billion) compared with Rs 5,031 crore (Rs 50.31 billion) for the same period last year.
Telecom service provider Reliance Communications is to tap the retail international long distance calling space in the UK
ICICI Bank joined the likes of Reliance Communications, Infosys and Tata Consultancy Services on Monday in the Rs 1-trillion market valuation club.
Having lost the battle for Hutchison Essar, Anil Ambani-controlled Reliance Communications is drawing up plans to invest up to $2.5 billion.
Telecom service provider Reliance Communications on Monday introduced two new Classic colour phones with FM radio, aiming to tap a higher market share in this segment.
The Sensex took less than two years to rally from the 10,000-mark it first hit in February 2006 to double that on that New Year's Eve.
The company said with the pack, customers can access data at Rs 10 per MB on international roaming while the base tariff is Rs 614.4 per MB. Outgoing voice calls to India can be made for Rs 40 per minute as compared to the base tariff of Rs 165 per minute.
According to reports, the deal, if successful, could fetch Hutchison as much as $14 billion and would be Asia's largest private equity deal.
Reliance Communications will invest $60 million in Saudi Arabia to connect the kingdom and other Gulf states with 53 countries around the globe on its fibre optic network and provide value-added services to its network users. \n\n
In the third infrastructure sharing agreement between firms run by brothers Mukesh and Anil Ambani, Reliance Industries' telecom arm has agreed to use Reliance Communication Ltd's intra-city fibre network to roll out 4G services.
Foreign institutional investors have been allowed to invest up to Rs 5,400 crore (Rs 54 billion) in Reliance Communications through ADRs or GDRs.
After making its entry into the Bombay Stock Exchange's benchmark 30-share index Sensex in May
If the apex court decides on a 15-year repayment tenure, it would pose a grave challenge for the debt ridden VIL.
Even before the real 3G mobile services takes off, competition at the trial level is hotting up with Reliance Communications applying for the radio waves for testing of interface for both GSM and CDMA based services.
Nokia and Reliance Communications have joined hands to market the Nokia 1255 mobile handset that costs just Rs 1,999. \n
Reliance Communications has proposed an entry fee of Rs 150 crore (Rs 1.5 billion) for metro circles and Rs 100 crore (Rs 1 billion) for category B circles for getting 3G spectrum.
The NSE Nifty closed at 3,679, up 70 points.
India Inc's quarterly net profit reached a record high of Rs 1.64 trillion in the third quarter ended December 31, 2020, mainly due to gains from higher commodity prices and a big swing in banks' earnings. The combined net profit of 3,323 listed companies that have declared results so far was up 68.6 per cent year-on-year (YoY). In comparison, earnings were up six times (534 per cent) in the second quarter and 6.5 per cent in the corresponding period last year.
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The Reliance Group employee is among those who have been arrested
Further deleveraging needed to cut net debt and sustain operational improvement
Under the pact, Mukesh Ambani-led Reliance Industries' telecom arm will hire nationwide optical fibre network of Reliance Communications for the roll-out of 4G services.
Successful bidders will have to pay 25 per cent of the amount upfront for sub 1 GHz, and 50 per cent upfront for higher frequency bands.
The Delhi high court on Thursday put on hold the insolvency resolution process (IRP) proceedings against Reliance Communications (RCom) chairman Anil Ambani in relation to the recovery of Rs 1,200 crore loans given by SBI to his two firms. Ambani had given personal guarantees for the Rs 565 crore and Rs 635 crore SBI loans to RCom and Reliance Infratel Ltd (RITL), respectively, in August 2016.
The Delhi high court on Monday sought the Centre and SBI's reply to former RCom chairman Anil Ambani's plea to include the Chinese banks, which have got a decree of $717 million against him from a court in United Kingdom, in the proceedings related to recovery of Rs 1200 crore loan granted to two of his companies. The high court also said that the moratorium on recoveries from sale of Ambani's assets, as provided under section 96 of the Insolvency and Bankruptcy Code (IBC), would remain in operation for now. This direction came on the application moved by the State Bank of India (SBI) seeking a declaration that the moratorium shall continue to be in effect.
Resignations of Anil Ambani and four other directors were conveyed to the CoC of RCom in its meeting on November 20 and were unanimously rejected.
State govt aims to make Hyderabad a 4G WiFi-enabled city by December.
