Reliance Industries' fourth investment cycle of an estimated USD 50 billion spending over the next three years could help the firm double its earnings, a report said. The firm's "fourth investment cycle this century has significant differences to past cycles, underappreciated energy tailwinds and the potential to double profits by 2027," Morgan Stanley said in a report. The spending is planned on chemicals, 5G, retail and new energy over the next three years.
Sensex ended above 26,000 led by telecom shares amid TRAI's spectrum sharing norms.
BSNL offers 2GB data per day, unlimited calling for Rs 339
With the profitability of telecom operators declining due to "low tariffs and high costs", GSM industry body COAI Chairman Himanshu Kampania has said the mobile sector cannot sustain future investments with present low margins.
The government is likely to hold 5G spectrum auction in early June, telecom minister Ashwini Vaishnaw said on Thursday. The minister said that the Department of Telecom is working as per expected timeline and the process is on to resolve industry concerns around spectrum pricing. Asked about the schedule of the spectrum auction, Vaishaw said that it is expected to be in early June.
Government on Tuesday rejected two most repeated demands of the private telecom industry by saying no to opening the last mile access of Bharat Sanchar Nigam and Mahanagar Telephone Nigam
The officials said that the recently developed SH-15, a 155 mm truck-mounted howitzer gun, has also been spotted at some places along the Line of Control after it was displayed on Pakistan Day last year.
Sector-wise, the study revealed that the core industries have witnessed virtually negative growth in headcount, with crude oil just about maintaining the employment level.
Shares of Reliance Industries (RIL) traded 2 per cent higher at Rs 2,310.10 on the BSE in intra-day trade in an otherwise volatile market after the company reported a 27.4 per cent year-on-year (YoY) growth in its consolidated net profit at Rs 17,394 crore for the September quarter (Q2FY24). While revenue growth of the company was flattish YoY at Rs 2.32 trillion, the profit rose on the back of operational improvement across most segments, especially higher profits in the O2C (oil-to-chemicals) and oil & gas businesses, as well as the retail business. "Strong operational and financial contribution from all business segments has helped Reliance deliver another quarter of robust growth," said Mukesh Ambani, chairman and managing director of the company.
A rare bonhomie among three private telecom companies in raising tariffs coming on the back of a bailout package by the government may have helped the telecom sector avert a crisis but the challenges haven't ceased to exist as the industry faces a cash-guzzling task of rolling out 5G networks in the coming months. The sector that provides direct and indirect employment to millions is projected to see Rs 1.3 lakh crore to Rs 2.3 lakh crore of investments in the coming years in creating robust infrastructure and building telecom and network products that have been incentivised by the government through PLI and other initiatives. After years of cut-throat competition and the apex court ruling on payment of past statutory dues left some players in the lurch, billionaire Sunil Mittal's Bharti Airtel and struggling Vodafone Idea almost in tandem raised tariffs, taking the plunge they had long been talking about.
VIL, in which Vodafone holds 45.39 per cent stake, is staring at unpaid statutory dues of Rs 53,038 crore, including Rs 24,729 crore of spectrum dues and Rs 28,309 crore in licence fee, and has already warned of shutdown if no relief is given.
Finance Minister P Chidambaram in his Budget announcements proposed a hike in sectoral caps in telecommunications from the existing 49 per cent to 74 per cent. Take the Rediff Business Quiz and find out how much you know about the telecom industry.
In the biggest synergy in the Indian telecom industry, leading cellular service providers BPL Mobile, Escotel, RPG Cellular and Spice Telecom, have forged what they have named the 'MobileFirst' Alliance to provide enhanced value to their customers.
Equity benchmark indices Sensex and Nifty buckled under selling pressure after a nine-session rally on Monday, as massive sell-off in IT, tech and telecom counters unnerved investors.
India's second-largest telecom firm Bharti Airtel on Tuesday reported a net profit of Rs 1,134 crore for the September 2021 quarter, and said it is witnessing strong business momentum with growth in 4G customers and increase in mobile ARPU. This is against a loss (attributable to owners of the parent) of 763.2 crore during the year-ago quarter, the company said in a statement. Its consolidated revenues for the second quarter of FY21 stood at Rs 28,326.4 crore, up 18.8 per cent year-on-year (on a comparable basis) and 13 per cent y-o-y on a reported basis, it added.
Gautam Adani's alleged proximity to Narendra Modi may dent the latter's self-styled image of incorruptibility, points out Kanika Datta.
"African information and communication technologies industry is an exciting place to be. Market liberalization continues and most countries have established regulatory bodies to ensure a fair, competitive and enabling environment, Hamadoun Tour, secretary-general of the ITU said on Monday. The secretary-general was speaking at the opening of a major trade fair "ITU Telecom Africa" in Cairo inaugurated by Egyptian President Hosni Mubarak.
Gross refining margins may decline sequentially but improving petro-chem margins will boost earnings
Telecom operator Bharti Airtel will start rolling out 5G services later this month as it signed requisite agreements with Ericsson, Nokia and Samsung. At the recently held much-awaited spectrum auction for 5G services by the Department of Telecom, Airtel bid for and acquired 19867.8 MHZ spectrum in 900 MHz, 1800 MHz, 2100 MHz, 3300 MHz, and 26 GHz frequencies. "We are delighted to announce that Airtel will commence roll out of 5G services in August.
Reliance Industries, construction major L&T and IRB Infrastructure are some of the top companies that have used an infrastructure investment trust structure to reduce part of their debt and generate returns for their investors. Earlier this month, IRB Infrastructure InvIT was listed on the National Stock Exchange, giving its investors an option to exit by selling their units. The listing came within months of the Securities and Exchange Board of India's (Sebi's) guidelines for conversion of private unlisted InvITs into listed ones were issued.
No licensing system should come in the way of the country's progress: Shourie
Union IT and Communications Minister Dayanidhi Maran on Thursday said IT and telecom hardware industry will be under a zero-duty regime from 2005.
The number of telephone subscribers in India increased from 1,183.15 million at the end of May to 1,186.63 million at the end of June.
A fair telecom market needs a tough and unbiased regulator who can protect consumersÂ’ interests and create a level playing field for all parties, says Sucheta Dalal.
Global investment management firm Bernstein has pegged the enterprise valuation of Reliance Industries (RIL)'s 85 per cent stake in Reliance Retail at $111 billion, while valuing the Mukesh Ambani-led company's 66.5 per cent stake in telecom and digital platform arm Reliance Jio at $88 billion. Reliance Industries had earlier planned to list both its subsidiaries to unlock value for its shareholders but hadn't fixed any timeline. The report said that Reliance Retail had raised $6 billion by diluting a 10.1 per cent stake, while Jio Platforms raised $20 billion from investors by selling 33 per cent in 2020.
The Indian market is driven by prepaid connections, which accounted for over 84 per cent in 2006. It is expected to reach 93 per cent by 2011.
Centre mulls strategy to ensure powers given to the agencies are not misused.
Prime Minister Narendra Modi will launch the much-awaited 5G services in India on October 1, 2022, an official release said on Friday. According to the release, 5G to be launched by the Prime Minister in select cities, will progressively cover the entire country over the next couple of years. The cumulative economic impact of 5G on India is estimated to reach $450 billion by 2035. Capable of supporting ultra-high-speed internet services, the fifth generation or 5G is expected to unleash new economic opportunities and societal benefits, serving as a transformational force for Indian society.
Job postings declined on an annual basis in September but witnessed a marginal uptick compared to August this year, a report said on Tuesday. There was a fall in job postings in various sectors, including media and entertainment, home appliances, shipping and marine, IT and BPO/ITES compared to September 2021. For September 2022, the Monster Employment Index (MEI) showed that there was a 4 per cent decline in hiring activities on an annual basis but a 1 per cent rise on a month-on-month basis.
'The number of first-time investors into MFs can grow four times more than the current rate if we are able to accept the bank KYCs.'
Anant Ambani, the youngest son of billionaire Mukesh Ambani, will wed Radhika Merchant, daughter of industrialist Viren Merchant, the family announced on Thursday. The 'roka' or engagement ceremony of Radhika, daughter of Shaila and Viren Merchant, and Anant was performed at the Shrinathji Temple at Nathdwara in Rajasthan on Thursday in the presence of family members and friends. A statement issued by the family said the young couple after the engagement spent the day at the temple seeking Lord Shrinathji's blessings for their upcoming union.
Nokia sold its once-dominant handset business last year.
There is a scope for 30 per cent reduction in mobile tariffs if the government brings down current taxes on telecom industry, Sunil Mittal, chief managing director, Bharti Enterprises said on Tuesday.
'Spectrum payment to push up telcos' debt to Rs 3.5 lakh cr'
Corporate India is busy restructuring - through mergers, demergers and splits. That seems to be the new normal as CXOs and boards brainstorm on how to create assets and value. The pitch rose significantly during the third quarter of this financial year (FY24), translating into $32.9-billion worth of such deals - the highest quarterly total since the HDFC Bank-HDFC merger announced in FY22 Q2.
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