Liberalization and telecom reforms are known to be necessary to hasten growth in tele-density.
The S&P BSE Midcap and the S&P BSE Smallcap indices have managed to stay afloat in a volatile January that saw the frontline indices hit their respective 52-week high levels and then slip. While the S&P BSE Sensex has lost over 2 per cent thus far in January, the S&P BSE Midcap and the S&P BSE Smallcap indices have gained nearly 2.5 per cent and 4 per cent, respectively during this period.
'Considering that an Internet company's market value is largely determined by its direct access to consumers for digital services, and largely served outside a sovereign country's control, it would appear reasonable in trade terms to discuss fees for a seat at the proverbial 'table' of opportunities in the largest open consumer market,' argues Venki Nishtala.
The network sharing agreement is the start of a new era of partnership between the brothers. More deals on sharing towers and intra-city fibre network are likely.
Telecom and petchem businesses will drive growth for RIL.
Reliance Industries Ltd on Friday reported an 11 per cent drop in its June quarter net profit largely due to weak oil-to-chemical (O2C) vertical and higher interest and depreciation cost. Net profit was Rs 16,011 crore, or Rs 23.66 per share, in April-June - the first quarter of current 2023-24 fiscal year - compared with Rs 17,955 crore, or Rs 26.54 a share, earning a year back, according to a company's stock exchange filing.
A department of telecommunication official said the regulator has already put questions relating to uniform licence fee to the stakeholder in its consultation paper 'Overall Spectrum Management and Review of License Terms and Conditions'.
Isha's stab at the bottom of the laptop pyramid shows she is a true Ambani.
Asserting that leading international consultancy firm A T Kearney had rated India as the third hottest FDI destination, India on Thursday sought investment from Taiwan in telecom and ICT ventures.
While smart boys like the Ruias of Essar, Ajay Piramal, Max India promoter Analjit Singh laughed all the way to the bank, the Tatas, Anil Ambani, Malaysian tycoon T Ananda Krishna of Maxis (which invested in Aircel), Sistema, and Norway's Telenor burnt their fingers, notes Surajeet Das Gupta.
Companies such as Tata Sons and Bharti Telecom, which are unlisted but have listed subsidiaries, may soon have to file periodic financial statements with the registrar of companies under the new provision of the Companies Act. The provision requires greater financial disclosures by a certain category of unlisted companies.
A DoT panel has suggested completely opening up the telecom sector to foreign direct investment, a move which is expected to bring in fresh funds into the industry that is facing a financial crisis.
The telecom industry, with a cumulative debt of around Rs 2,75,000 crore (Rs 2,750 billion), has been mired in various controversies, besides facing intense competition, low tariffs and falling margins.
Capital expenditure by Indian companies is likely to see an uptick in the upcoming quarters as capacity utilisation has surpassed the critical threshold of 75 per cent, and numerous companies have deleveraged their balance sheets, according to analysts. The first quarter of the current financial year has shown improved profitability, driven by a decrease in input prices. This, according to analysts at Care Ratings, should stimulate a revival in the private capex cycle.
Reliance Industries' (RIL's) retail arm, Reliance Retail, is now valued at nearly twice the amount of its decades-old and lucrative oil-to-chemical (O2C) division. Bernstein's latest report on the conglomerate projects a valuation of $112 billion for its retail business, dwarfing the $57 billion valuation of its O2C division. In addition, the research firm valued Jio Platforms, the company's telecom arm, at $77 billion and the renewable energy business at $17 billion.
Private telecom operators have created ripples in the Indian telecom market by accounting for 43 per cent of total telecom services revenue in 2004-05.
Kotak Mahindra Bank was the biggest loser from the Sensex pack, skidding 1.83 per cent, followed by Axis Bank, NTPC, Hindustan Unilever, ICICI Bank, Bharti Airtel, Reliance Industries, HCL Technologies, IndusInd Bank and Nestle. In contrast, Bajaj Finance, Bajaj Finserv, Tech Mahindra, Tata Consultancy Services, Titan, Infosys, HDFC Bank, HDFC and ITC were the gainers.
Ambani said Jio will offer the world's lowest data tariff
US technology company NVIDIA and billionaire Mukesh Ambani's Reliance Industries on Friday announced a partnership to build AI supercomputers in India. "The companies will work together to build AI infrastructure that is over an order of magnitude more powerful than the fastest supercomputer in India today," the firms said in a statement. Days before the announcement, NVIDIA founder and CEO Jensen Huang met Prime Minister Narendra Modi on Monday.
Operators say 10-paisa, 25-paisa calls not possible.
The demand for white-collar gig roles saw an 11 per cent uptick year-on-year in March, amid muted hiring across industries due to global headwinds and job cuts, according to a recent report. The month saw white-collar hiring in India rise 2 per cent in terms of job posting activity compared to the same period the previous year, according to the report by staffing portal foundit.in (formerly Monster APAC and ME). Sectors such as retail, telecom, and Travel and Tourism saw the biggest growth in demand on an annual basis.
Ailing telecom operator Vodafone Idea has flagged the industry's "unsustainable financial duress" in its latest annual report and hoped that the government would provide the necessary support to address "all structural issues" faced by the sector. In the chairman's letter to shareholders, Himanshu Kapania cited persistent challenges in the operating environment, amid "unsustainable pricing" and "hyper-competition" during FY21. Kapania expressed hope that government will support efforts to generate reasonable returns on massive investments.
The industry expects faster finalisation of 2G spectrum bidding process, more clarity on the spectrum prices and related issues.
Titan, IndusInd Bank, Axis Bank, State Bank of India, Power Grid, NTPC and Tata Motors were among the among the major gainers. Mahindra & Mahindra, Larsen & Toubro, Nestle, JSW Steel, Infosys and Tata Consultancy Services, Tech Mahindra and Maruti were the major laggards.
The policy was earlier expected to be unveiled by December this year, but delays in receiving recommendations have pushed the date to next year.
The cost cutting efforts by corporates, like restricting travel, would also be beneficial to the industry. HotSpot, the multi-brand technology retail chain of the Spice group, will increase its presence to around 3,000 outlets in the next two years.
It emerges that Vi has probably offered good data quality despite being short on spectrum and infrastructure due to its stretched finances. Did the two companies that merged face the heat due to price wars? Probably. Did the government's tough stance in demanding its "due" share of telecom revenues hurt the company? Certainly!
Telecom sector has seen phenomenal growth over the past decade or so, says the prime minister.
The continued growth in the communications sector, especially mobile subscriber base, is expected to push further the level of energy consumption by networks, Trai said while releasing a consultation paper 'Green Telecommunications'.
Since August 2013, FIPB has approved two FDI proposals in the telecom sector.
Adani Data Networks said it plans to create a private 5G network for its operations. However, it acquired the spectrum in the last 5G auction alongside three telecom companies. Subsequently, it was granted a unified licence for access services, which enables it to provide telecom services in the country.
The recommendations of the commission will now be put before the empowered group of ministers headed by Finance Minister P Chidambaram for a final decision.
The latest telecom war kicked off after some pictures surfaced, showing Airtel banners among agitating farmers. According to the Jio camp, it was a giveaway that farmers were being enticed to port their phone numbers.
The other stressed sectors, according to Chidambaram, are infrastructure, steel, construction, textile and food processing.
Shareholders have given approval to the appointment of Ambani scions Akash, Isha and Anant on board of Reliance Industries, the company said in a stock exchange filing.
Private telecom operators have managed to grab 43 per cent of the total revenue generated from telecom services during 2004-05, says a leading communications business magzine.
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