'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Bharti Airtel chairman Sunil Mittal on Thursday said tariffs need to go up amid "tremendous stress" in the telecom sector, and Airtel will not hesitate to raise prices, but it will not do so unilaterally. The comments by the telecom czar came at a time when Airtel's rival Vodafone Idea has approached the government for a one-year moratorium on payment of spectrum instalment of over Rs 8,200 crore - due in April 2022. Cash-strapped VIL has told the telecom department that while it is working on raising new funding for the last six months, "investors are not willing to invest in the company because they believe that unless there is a significant improvement in consumer tariffs, the health of the industry will not recover and they will incur a loss on their investment".
The incumbents Bharti Airtel and Vodafone Idea recorded adjusted gross revenue of Rs 10,701.5 crore and Rs 9,808.92 crore, respectively, during the quarter.
Digital house arrest is a tactic where cybercriminals confine victims to their homes in order to scam them. The offenders generate fear by making audio or video calls, frequently posing as law enforcement officers using AI-generated voices or video technology.
'Hi friends, from #Melodi', this is how Italian Prime Minister Giorgia Meloni captioned a small selfie video showing her camaraderie with Prime Minister Narendra Modi.
Info Edge (India), the country's leading consumer internet company known for its platforms in recruitment (naukri.com), real estate (99acres.com), matrimony (jeevansathi.com) and education (shiksha.com) space, delivered revenue growth in line with expectations in the April-June quarter (Q1) of FY25.
The government has given an option to telcos to pay back interest on dues through equity and also conveyed that it has no interest in acquiring any telecom company, a top official of debt-ridden Vodafone Idea has said. Vodafone Idea Ltd (VIL) managing director and CEO Ravinder Takkar in an interview to PTI said it is clear that the government wants the company to compete in the market and there should be at least three private service providers in the telecom sector. "I have had many many interactions across various parts of the government leading up to this announcement (telecom reforms).
The Supreme Court on Wednesday pulled up the Centre and telecom companies for doing self-assessment or reassessment of the adjusted gross revenue (AGR) dues fixed by the apex court in its verdict given on October 24 last year. The top court, which was also anguished by frequently published newspaper articles on the AGR issue, said all managing directors of telecom companies will be personally responsible and held for contempt of court for any such future write-ups hiding the truth.
The Adani family, led by Chairman Gautam Adani, is the most valued first-generation family business at Rs 15.44 trillion.
Asia's richest man Mukesh Ambani drew nil salary from his oil-to-telecom-and-retail conglomerate Reliance Industries for the fourth straight year in a row while his children earned a sitting fee and a commission for being on the board of India's most valuable company. Ambani, 67, had capped his annual remuneration at Rs 15 crore from financial year 2008-09 (April 2008 to March 2009) to 2019-20 (FY20); and since FY21, he opted to forego his salary, due to COVID-19 pandemic, until the company and all its businesses were fully back to their earnings potential.
The list of guests included celebrities from across the globe, politicians, the who's who of Hindi and south Indian cinema world and almost all the top cricketers of the country.
Debt-saddled telecom operator Vodafone Idea Ltd's Rs 18,000 crore follow-on offering (FPO) opened to a modest response on Thursday with just 26 per cent of shares on offer being sought by investors. Of the 1,260 crore shares on offer, 331.24 crore was subscribed on Thursday, according to information on the BSE. Qualified institutional buyers picked up 61 per cent of their 360 crore shares reserved for them while non-institutional investors sought 28 per cent out of 270 crore shares earmarked for them.
Reliance Industries Ltd on Monday reported an almost flat March quarter net profit, amid a recovery in its core oil and petrochemicals business and sustained momentum across the consumer-facing telecom and retail businesses. RIL's net profit stood at Rs 18,951 crore, or Rs 28.01 per share, in the January-March quarter of the 2023-24 fiscal as compared to Rs 19,299 crore, or Rs 28.52 a share, a year ago, according to a company's stock exchange filing.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
When on October 24, the Supreme Court, on a petition moved by the government, ordered payment of past dues according to its new definition of AGR, the country's second-biggest carrier Vodafone-Idea Ltd warned of shut down if no relief is given. The total dues for the industry ran into a whopping Rs 1.47 lakh crore. For an industry that has come from 7-8 operators to just three private players and state-owned fourth operator, the warning by Vodafone-Idea sounded like a death knell.
People in Bangladesh have welcomed the new interim government led by Nobel laureate Muhammad Yunus, hoping it would restore order, end repression and hold a fair election to facilitate a democratic transition of power.
In a relief for foreign firms giving loans to Indian subsidiaries, tax authorities have said goods and services tax (GST) will not be imposed on them, subject to some caveats. Additional fees, commissions, or related payments - over and above the amount charged as interest - on these loans will attract GST at 18 per cent, the Central Board of Indirect Taxes and Customs (CBIC) has said.
Admitting the Central Bureau of Investigation appeal, the high court said there are "some contradictions" in the trial court's judgment which require "deeper examination".
Institutional shareholders of Reliance Industries Limited (RIL) are expecting big-ticket announcements from the company, including timeline for listing of its telecom and retail subsidiaries. They expect this to unlock value in the company, which has seen a sharp fall in market valuation on Friday. This is due to windfall tax imposed by the Centre on refiners and oil producers.
Bharti Airtel chairman Sunil Mittal has expressed hope that the government and regulators will step in to ensure the sector remains a viable place for continued investments and asserted that the industry requires "long overdue" support to maintain its current 3+1 structure. In the latest annual report of Airtel, Mittal said as the sector's role in the economy becomes more pervasive, its challenges loom larger. Issues such as unsustainable pricing and low returns in a highly capital-intensive environment, coupled with legacy legal issues, "have extracted their toll", Mittal observed.
The telecom industry, he said, is vital to the nation and the digital agenda of the government.
Reliance Jio, India's top telecom operator, announced a 12-27 per cent hike in mobile tariffs -- the first in two and half years, setting the stage for other operators like Vodafone Idea to raise charges. The company has also restricted the access of unlimited free 5G services for customers. The hike comes immediately after the spectrum auction, as per the anticipation of sector experts.
From the Sensex basket, JSW Steel, Tata Steel, Power Grid, Kotak Mahindra Bank, UltraTech Cement, NTPC and Bajaj Finance were the major gainers. Tata Consultancy Services, Tech Mahindra, Maruti, Reliance Industries and Titan were among the laggards.
Shareholders of industry giants Adani Enterprises, Reliance Industries, and Tata Motors - the latter two are part of the Sensex - will decide on combined related-party transactions of more than Rs 2.68 trillion proposed for this financial year and later. Related-party transactions for BSE 500 companies touched at least a six-year high of Rs 42.1 trillion in FY23, the Capitaline data shows. The Rs 42.1 trillion includes related-party transactions both at balance-sheet and profit-and-loss levels.
The Lok Sabha witnessed a display of linguistic diversity on Monday, with the newly-elected MPs taking their oaths in English and Indian languages, including Sanskrit, Hindi, Dogri, Bengali, Assamese and Odia.
However, the Polycab share price is up by nearly 80 per cent while Havells' has risen by 39 per cent. The Sensex has gained 26 per cent in this period. The Q1FY25 results were in line for both companies.
Sex, violence, song or dance -- the monsoon serves multiple purposes in Hindi movies. With the onset of the rains, it's the perfect occasion to highlight all the cool, crazy reasons Bollywood uses it as an excuse for.
IT services company HCLTech on Friday posted a 20.4 per cent rise in consolidated net profit to Rs 4,257 crore for the June-ended quarter and gave a revenue growth guidance of 3-5 per cent for FY25 on GenAI diversification and strong operational execution. For the fiscal's first quarter ended June 2024 (Q1 FY25), the revenue came in at Rs 28,057 crore, 6.6 per cent more than in the year-ago period. Seen sequentially, it was 1.6 per cent lower than the March quarter.
Overall market reaction to the Budget was neutral. Investors absorbed the changes to the tax rates (positive for salaried class) and capital gains taxes (CGTs, negative due to the removal of indexation and increases. Other proposals largely pertain to supporting rural development, buybacks taxed as dividends, Custom duty changes that impact multiple sectors, higher outlays for clean energy, etc. There's some moderation in the growth of capex outlay across defence, fer
Indian family-run business houses have in recent years seen ugly public spats between owners over control. But metals-to-ports conglomerate Essar's Ruia family seems to be an exception. Three generations of the Ruia family - founder brother Shashi and Ravi Ruia, their children and grandchildren - continue to live under one roof and jointly run the business empire.
Canada-based Brookfield will acquire the Indian business of American Tower Corporation (ATC) for an enterprise value of $2 billion, a release said on Friday. The transaction is subject to regulatory approvals and expected to close in the second half of 2024. "Data Infrastructure Trust (DIT), an Infrastructure Investment Trust sponsored by an affiliate of Brookfield Asset Management, today announced the signing of an agreement with ATC to acquire 100 per cent of equity interests in American Tower's operations in India (ATC India), for an enterprise value of Rs 16,500 crore ($2 billion) which is subject to pre-closing terms as per the securities purchase agreement," it said.
From the Sensex basket, Bharti Airtel, Nestle, Maruti, Tata Motors, HCL Technologies, NTPC, Asian Paints and State Bank of India were the major gainers. Sun Pharma, Reliance Industries, Mahindra & Mahindra, JSW Steel, Tech Mahindra and Bajaj Finance were among the laggards.
Debt-saddled telecom operator Vodafone Idea Ltd's Rs 18,000 crore follow-on offering (FPO) on Monday was subscribed more than 3.3 times, as institutional investors poured in money but the retail segment lagged. On the last day of the offering, as many as 4,212.56 crore shares were sought against the issue size of 1,260 crore at 14.30 hrs, according to information on stock exchanges.
Three different invitations were sent out for the wedding and the receptions with top-run guests being sent a large red box that contained an intricate chest incorporating a mini silver temple featuring gold idols of various Hindu deities, including Lord Ganesh, Radha-Krishna, and Goddess Durga.
French organisers turned Paris into an open-air Olympic playground where everyone was invited, with or without a ticket.
In a setback to telecom service providers, the Supreme Court on Thursday allowed the Centre's plea to recover adjusted gross revenue (AGR) of about Rs 92,000 crore from them.
Yunus, 84, was administered the oath of office by President Mohammed Shahabuddin at a ceremony at the presidential palace 'Bangabhaban'.
British telecom player Vodafone on Wednesday said it has sold an 18 per cent stake in Indus Towers for 1.7 billion euro (about Rs 15,300 crore). Meanwhile, Bharti Airtel has increased its stake by acquiring 2.69 crore shares, representing a 1 per cent stake, in Indus Towers. The shares were acquired by Airtel at an average price of Rs 320 apiece, taking the transaction value to Rs 862.38 crore, as per the bulk deal data.
Analysts have pointed out that with the dues arising out of the SC judgment there could soon be only two private telcos in the country, and not three - Reliance Jio, Bharti Airtel and Vodafone Idea - as now.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances