If Cyrus's protestations of having no knowledge of his imminent dismissal are to be taken at face value, he was extraordinarily naive and insulated from the ground reality. There were enough straws in the wind to suggest that his relations with Ratan were fast deteriorating to a point of no return.
Mukesh Ambani said, by March 2017, it will cover 90 per cent of India's population
Reliance Industries on Friday reported more than doubling of its March quarter net profit to Rs 13,227 crore as improvement in petrochemical and consumer business countered continued weakness in refining business.
Revenue decline has left the operators with little money to service their mostly 3G and partly 4G infrastructure leading to poor data and voice quality.
The brand integration not only marks the completion of the largest telecom merger in the world, but will also set the company on its future journey to offer strong digital experiences to 1 billion Indians on its 4G network.
Jio's Estonia arm and Finland-based University of Oulu have signed an agreement to collaborate for development of 6G technology as well as to foster entrepreneurship. The collaboration with the university is expected to extend Jio's 5G capabilities and will help explore use cases in the 6G era. Jio Platforms is the parent of telecom player Reliance Jio.
While it was technically not possible to block the deal, the tax department could resort to arm-twisting.
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.
Billionaire Mukesh Ambani's Reliance Industries on Friday reported a 43 per cent jump in its September quarter net profit as its businesses from oil to retail fired on all cylinders, growing both sequentially and on a year-on-year basis. Net profit of Rs 13,680 crore, or Rs 20.88 per share, in July-September compared with Rs 9,567 crore, or Rs 14.84 a share, in the same period a year back, the company said in a statement. While better realisation and a sharp rise in crude oil prices benefited the old-economy business, retail saw footfalls at stores reach pre-Covid levels and per user earning from telecom business rose.
The Indian economy recovered from the Covid-induced downturn during 2022 and is poised for further improvement in the coming quarters though downside risks emanating from geopolitical tensions, strengthening dollar and elevated inflation will continue. The positive trajectory in the growth trend and improved fundamentals will help the nation in neutralising the impact of global headwinds which are expected to have a bearing on the country's exports in the months to come. The challenges before the government and the Reserve Bank in the new year would be to arrest inflation, check declining value of rupee against US dollar and promote private investment and growth, with a view to ensure that the country remains one the fastest growing major economies of the world.
Benchmark indices bounced back on Wednesday after falling for five straight sessions, with investors snapping up the recently-mauled IT, finance and consumption stocks amid a supportive trend overseas. A rebounding rupee further bolstered sentiment, traders said. Halting its five-session slide, the BSE Sensex jumped 574.35 points or 1.02 per cent to finish at 57,037.50. Similarly, the NSE Nifty surged 177.90 points or 1.05 per cent to 17,136.55.
The Delhi high court on Wednesday questioned actress-environmentalist Juhi Chawla for directly filing a suit against the setting up of 5G wireless networks in the country without giving any representation to the government on her concerns related to the technology.
Six consecutive profitable quarters after an equal number of losses - for Bharti Airtel, the turnaround has been quick. But it is not a result of higher tariffs or absence of exceptional items alone. Execution and strategy are playing a part, too. Bharti Airtel's chief executive officer Gopal Vittal summed it up in a post-result conference call last month. "We track the profit in each of our 237,500 (cell) sites.
An opportunity to enter a burgeoning sector at a low valuation and favourable policies are propelling some of India's largest corporate groups to scoop up drone start-ups. "Indian corporations lost the race in aerospace and space tech. "No one wants to miss the bus this time. "These are seasoned businessmen and they realise that the market cap of tech companies with problem-solving capabilities will exponentially rise in future," says Vipul Singh, CEO of Aarav Unmanned Systems (AUS).
A disagreement between mobile operators and device manufacturers over e-SIMs has reached the government with the Cellular Operators Association of India (COAI) asking the DoT to order handset manufacturers to introduce eSIMs, in addition to the physical SIM slot, in all smartphones costing over Rs 10,000. The reason is the unprecedented global shortage of semiconductors which has severely impacted the supply of SIM cards across the globe and pushed up the price by four to five times. The shortage is not likely to improve before 2024.
Hiring demand for the month of October 2021, witnessed a dip of 3 per cent, as compared to September 2021. However, job demand grew 9 per cent sequentially in the past six months showing an optimistic outlook to recovery, said the Monster Employment Index. There has also been a strong year-on-year recovery with a 9 per cent uptick in October 2021 (Oct 2021 vs Oct 2020).
India attracted $891 million (Rs 4,023 crore) foreign direct investment in the telecommunications segment in the first two months of the current fiscal, the highest among all sectors.
Recently, Prime Minister Narendra Modi met over 40 CEOs across broad swathes of industry, ranging from makers of mobile devices, auto components, food products to telecom networking equipment and pharmaceuticals. The agenda: To discuss how to make India an integral part of the global supply chain. The focus of the discussion would be the much touted yet not so well understood production-linked incentive scheme (PLI), the centrepiece of the government's drive to massively boost the manufacturing sector. To do so, the government has created a war chest of over Rs 197,000 crore to be paid out as incentives to over 14 industries in five years. There are three objectives to the scheme, two explicitly stated, one implied.
The Tata group's tryst with mobile services, with either CDMA or GSM technology, did not really fly, forcing it to close operations and write off losses. Now the group is back in the big game, this time straddling the telecom equipment, network and technology space in India as well as the global market. To this end, it is leveraging the opportunities that flow from 5G technology through open radio access network, or O-RAN. Recently, the Tata Sons' subsidiary Panatone Finvest acquired 43.3 per cent in Bengaluru-based telecom equipment manufacturer Tejas Network for Rs 1,850 crore and announced it would buy another 26 per cent of the voting capital through an open offer.
Chinese banks -- China Development Bank, China Exim Bank and Industrial and Commercial Bank of China (ICBC) -- will get a lion share of 30 per cent or Rs 7,000 crore in RCOM/RTL/RITL resolution plan, with the DoT getting nothing if the proposed plan goes ahead.
Spectrum was sold at about 68 per cent premium.
Samsung's connected technology solutions provider Harman on Wednesday said it has started a 5G testing lab in India to help companies test their devices for operating them on the next generation network. The company said its 5G lab enables a holistic, device-to-cloud performance analysis -- enabling chipset conformance testing, pre-certification testing, network operator approval testing, application performance verification and more. Harman Digital Transformation Services (DTS) senior vice president David Owens said advances in technologies like 5G yield significant opportunity to accelerate innovation across nearly every industry -- from healthcare and manufacturing, transportation to consumer device support.
The Department of Telecommunications (DoT) is in the process of issuing a show-cause notice to Vodafone Idea (Vi) for delaying the payment of licence fee. Companies pay 8 per cent of their adjusted gross revenue as licence fee. This also includes a universal service obligation levy. The fee is collected from each of the 22 telecom circles in the country on a quarterly basis.
Oil-to-telecom conglomerate Reliance Industries (RIL) has emerged as the country's largest wealth creator, adding a staggering Rs 9.6 trillion over the past five years, according to Motilal Oswal's 26th Annual Wealth Creation Study. In doing so, the Mukesh Ambani-led company has beaten its own record of Rs 5.6 trillion generated in 2014-19. The study covered financial year 2015-16 (FY16) to FY21 and ranks the top 100 companies in descending order of absolute wealth created, subject to the company's stock price outperforming the BSE Sensex. The firms were also ranked according to speed (price CAGR during the period).
When computing moved to the cloud, it brought a lot of advantages of managing data at scale. Computation of large sets of information sourced from several locations allowed experts to interpret data at scale with flexibility. Artificial intelligence (AI) played a critical role in helping understand patterns which could lead to business insights. In the new scenario, using AI in the cloud is not enough anymore.
Investors have become poorer by over Rs 10.36 lakh crore in the last four trading sessions as the domestic equity benchmarks extended their losses amid weak global trends. The Sensex and Nifty closed in the red for the fourth straight session on Friday amid continued selling by foreign institutional investors. The BSE Sensex ended 427.44 points or 0.72 per cent lower at 59,037.18.
'At present Metaverse is a hype cycle.' 'If it succeeds, then I would like to see TCS there, too.'
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
Prime Minister Narendra Modi on Thursday reviewed the preparedness to deal with the situation arising out of the likely formation of Cyclone Jawad that is expected to hit the North Andhra Pradesh-Odisha coast and directed officials to take every possible measure to ensure that people are safely evacuated.
The COVID-19 pandemic and the ensuing lockdown may have put the best of funds on a backfoot of deal activity, RIL, however, has been an outlier. With 10 different investors brought in for its telecom venture Jio Platforms, RIL undertook 12 different transactions since April this year.
The IT industry has to fight vigorously against economic disparities in India, says Pitroda, asserting on reducing disparity of income, galvanizing the younger Indians and creating an overall development.
Microsoft has become the first global Big Tech company to join the Open Network for Digital Commerce (ONDC), an Indian government initiative for developing a first-of-its-kind open network for digital commerce. The world's second-largest technology firm intends to introduce social e-commerce via its app in the Indian market later this year. ONDC is expected to open to the public in Bengaluru over the next fortnight as it enters into the next phase of the pilot for further fine-tuning before rollouts in other cities, according to a source in the know.
It aims to attract $100 billion investment and create 4 million jobs in the sector by 2022.
Terming the Bill as a 'non political bipartisan issue,' he hoped to have all political parties on board as the Bill would benefit over 75 per cent of rural households and 50 per cent of urban households in the country.
The correction seen in the stock markets thus far is insufficient and there are significant downside risks, given the way macroeconomic data is shaping up, a Nomura equity strategist said on Thursday. "The markets are trying to look through the current stress we see in the macros. There are potential risks to the market. "Our estimates assume no major impact on growth and earnings. "The market should have been at least 5 per cent lower than it is now.
Bharti Airtel on Thursday announced new postpaid plans and discontinued some previous ones. "In the post-pandemic world, an abundance of high-speed data is increasingly becoming a key need for customers as work from home and online education is the new normal. "In this context, Airtel has further simplified its postpaid plans to offer industry-leading data benefits backed by a 5G-ready network and superior digital-first customer care. "The plans also come with a range of exclusive benefits such as bundled content and business productivity tools," Airtel said in a press release.
The government will have to make substantial payments, as well as forego revenues in FY'23, if it wants to work on the survival of Vodafone Idea because it will have to extend the same incentives to the entire telecom sector. According to estimates, the industry has to spend around Rs 21,000-Rs 25,000 crore for spectrum which it bought on a deferred payment basis. Vodafone Idea has asked for a moratorium for another year (FY23). If granted, the government will have foregone the instalment payout for a third year in a row as it has already provided a moratorium for two years, giving telcos Rs 42,000 crore worth of relief.
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