Reliance earned $11.50 for every barrel of crude that it processed during the last three months of the calendar year - almost 60 per cent more than a year earlier.
Star India successfully bagged the global media rights for the next five seasons of Indian Premier League -- including broadcast and digital -- for a massive Rs. 16,347.50 crores ($2.55 billion), in Mumbai, on Monday.
Before the pandemic hit the world and led to shutdowns, the company had received nearly half a dozen offers. But bidders are now withdrawing. They want to reassess the situation. They want to conserve cash and avoid acquisition.
'All three players in the market are haemorrhaging cash. Average consumer is consuming 12 gigabits (GB) at price points you don't see anywhere else.'
Discussing the prospect of more reform earlier this month, telecom minister Ashwini Vaishnaw announced a delay in the 5G spectrum auction. India's telecom sector regulation has to be benchmarked with the global best, he said. It's another matter that many countries have either introduced or are about to roll out 5G services that will enable cutting-edge tech in diverse areas. For India, too, it will mean a lot for healthcare, robotics and unleashing a new chapter in Digital India perhaps.
A stake sale of Reliance's real estate portfolio would help it raise anything between $1-5 billion and could be one of the triggers for the company's shares to break out.
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
This is the last lot of payments that telcos will make towards deferred spectrum liabilities, as the Union Cabinet had late last year approved a two-year moratorium on such spectrum payment dues.
Mamata launched the 'Jionet' brand Wi-Fi service.
The question mark over Vodafone Idea's survival is gone after the government's telecom package, managing director and chief executive officer Ravinder Takkar said in an interaction recently. The extended moratorium for spectrum payments and adjusted gross revenue (AGR) dues has indeed ensured that Vodafone Idea survives, at least for the time being, but questions remain. Answers to those questions may determine the future of Vodafone Idea and its power to stay in a difficult telecom market in the coming years.
According to Ambani's presentation, data rates per GB are around $30 in Japan, $18 in Korea, $15 in China, $7.5 in Spain and $6 in South Africa
With the State Bank of India moving the National Company Law Tribunal's Delhi bench to enforce the personal guarantees of Ambani, it will delay the recovery of dues by the Chinese banks which won a UK court order in May this year.
Jio will woo consumers with new products as well as technology, offering them quadplay services - TV, data, voice and mobile - seamlessly working across the platforms, with a single bundled offer and just one bill.
Banks have Rs 10 trillion in stressed assets - Rs 7.8 trillion of bad loans and Rs 2.2 trillion of restructured ones.
It is Mumbai's favourite festival and is celebrated each year with fervour and frenzy. But when the city welcomes "Ganpati Bappa" this Friday, the celebrations will be low key. With a cap on the size of idols, ban on processions and restrictions on devotees visiting pandals, celebrations are toned down for the second year in a row. Festival budgets have shrunk and as a result, corporate sponsorships have dried out.
Despite a massive underperformance at the bourses since the last six months, analysts are turning optimistic on Reliance Industries (RIL). Those at Jefferies, for instance, say that the company is a proxy play for India's consumption growth story. The key catalysts for the stock, according to a Jeffries note, include faster-than-expected market share gain in retail, oil-to-chemicals (O2C) stake sale, recovery in gross refining margins (GRM), potential public listing of Jio and even a possible banking licence going ahead. That apart, analysts feel any tariff hike in Reliance Jio (RJio) - its telecom venture - will also aid performance. With balance sheet adequately de-levered, proceeds from a strategic stake sale in the O2C business will create a sizeable war chest for the company, analysts say.
An emergency arbitration hearing between Amazon and retail conglomerate Future Group took place last week and a verdict is expected in the next few days, according to sources.
Reacting to the statement Jio said that the admission by Ookla reinforces Jio's submission that there is a clear contamination in primary data collected by Ookla in India, where nearly 90 per cent of smartphones are dual SIM devices
Live commerce, quick commerce, group buying, WhatsApp commerce, dukaantech have made their mark.
Pricing is a vital part of strategy to take high speed broadband to 265 million homes
Everyday consumerables, such as grocery and order-in food items are the key buyout sector, analysts say, and a major reason for kirana stores' digitisation push.
Experts say going ahead data price will fall further due to competition
For existing customers, he announced that the current benefits will continue under a new tariff plan for another 12 months by payment of Rs 303 per month and a one-time joining fee of Rs 99.
Ambani said Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue.
At market close, the oil-to-telecom conglomerate's market capitalisation (m-cap) zoomed to Rs 10,01,555.42 crore on BSE.
Devita Saraf, the founder of Vu Televisions, tells Karan Choudhury why she issued a front page newspaper ad praising Donald Trump last week.
It reported adding 698,3146 subscribers in September, the lowest since it added 6.1 million in November 2017.
Chinese mobile brands are deeply entrenched in the Indian market. A move to bar them may send a bold diplomatic message. But its cost for the local industry is anybody's guess. In the event that Chinese brands face curbs, two handset makers - Samsung and Apple - squarely stand to gain.
Vodafone Idea will gradually lose market share given its weak balance sheet and limited financial flexibility, says Fitch.
Despite low tariffs, voice usage is not growing.
The oil-to-telecom conglomerate reported an 8.8 per cent rise in its consolidated net profit to Rs 10,251 crore, or Rs 17.3 per share, in the third quarter ended December 31, 2018.
While most others have not been able to replicate the WeChat model successfully, experts expect Jio to be able to score on its 300 million plus new mobile phone users.
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.
Jio Platforms is expected to use its 388 million mobile phone subscribers as the cornerstone of an e-commerce and digital services business to rival Amazon and Walmart's Flipkart.
The new proposals will lead to complex processes and huge costs for telecom service providers, without any substantial benefits: COAI
Company has plans to launch its latest 4G enabled phone Lumia 830 priced at around Rs 26,000 before taxes by Oct.
Profit from its retail business jumped 77 per cent to Rs 1,923 crore and that from telecom rose by 78.3 per cent to Rs 2,665 crore.
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.
According to insiders, the induction of Jai Anshul would coincide with the birthday of the late patriarch of Reliance group, Dhirubhai Ambani, in the last week of December.
In terms of market capitalisation, Zee alone has a market cap of Rs 24,000 crore compared to Rs 15,000 crore of the merged Reliance entity.
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