Telecom department says spectrum can't be used as collateral because it's government property
The telecom spectrum auction entered the 33rd round of bidding today after starting off from the Rs 52,689 crore (Rs 526. 89 billion) mark this morning.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices added 0.6% and 1.3%, respectively to touch their fresh lifetime highs.
As the nation woke up to images of Prime Minister Narendra Modi splashed across the front page of newspapers by Reliance Industries to announce the launch of its 4G services, Shiv Sena's Member of Parliament from South Mumbai, Arvind Sawant, was not impressed.
RIL is also set to file its tariff plans, which will mark the company's intent to commercialise Jio's operations, with the regulator this week
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According to rating agency Fitch, India can in the long run support five-six profitable telecom operators.
To outgoing Vodafone CEO Vittorio Colao, negotiating big deals was an art form, as an international report pointed out after the $130-billion sale of Vodafone's 45 per cent stake in Verizon Wireless, says Nivedita Mookerji.
The amount generated so far is about 86 per cent of what the 3G auction fetched in 2010.
Forbes said Prime Minister Narendra Modi's "economic experiments" barely affected India's billionaires while none gained more than oil-and-gas tycoon Mukesh Ambani, who cemented his decade-long hold on the top slot by adding a staggering USD 15.3 billion (67 per cent) to his last year's wealth to become one of Asia's top five richest.
In effect, companies which put their money in telecom in India would have done much better to keep the cash in bank and earn interest.
The Supreme Court-appointed Justice Rajendra Mal Lodha panel asked the Board of Control for Cricket in India to accept its reforms before proceeding ahead with the process of awarding the Indian Premier League media rights from 2018 onwards.
ONGC was the top performer while private banking major ICICI Bank extended gains
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The government will get an additional revenue of 20 per cent from the auction of the 1,800 MHz and 900 MHz bands of spectrum, based on the Telecom Commission's recommendations, compared with those of the Telecom Regulatory Authority of India (Trai).
The financial year ending Saturday saw such big-ticket events that set the directional tone for the country's business journey.
The revival of feature phones in India is driven by low-cost access to the internet, but the 'dumb phones' are learning to get smart and create a niche, says Veer Arjun Singh.
Indian telecom seems to be getting back on its feet.
Telcos have indicated that rates will have to be raised, as higher volumes alone will not suffice to meet the higher costs.
In the broader markets, the BSE Midcap and Smallcap indices extended gains and were up over 1% each
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DoT had raised the demand on December 22 and asked RCom to pay within a month.
Private sector investment is likely to improve mildly in H2 of FY17, even though signs from investment data are not encouraging.
Telecom tower companies likely to invest around Rs 500 crore (Rs 50 billion) to enhance network.
The telecom industry is moving towards a five-plus one model.
Inflation is down, growth is headed for recovery. RIL and subsidiary Jio are on an upswing. However, stressed loans and impending job losses are the dark clouds, says Devangshu Datta.
Nifty is likely to remain under selling pressure unless and until it breach the 7,700-7,720 levels on closing basis.
But the road map of telecom will be decided by one thing: Whether Jio sticks to its ambitious plan and whether incumbents have enough financial muscle or ability to raise money every year to ensure that Jio does not reach its target, says Surajeet Das Gupta.
The recognition that content - video in particular - will be the next big thing in the telecom wars requires no rocket science.
A year after Bharti Airtel launched 4G services, there are only 6.5 mn users in the country
The rally in most of these stocks is partly attributed to impressive financial performance.
The freebies are now over, but Jio will need to notch up subscriber numbers and margins to prove its sceptics wrong.
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