Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
Telecom operator Bharti Airtel on Thursday posted a net profit of Rs 1,612 crore for the first quarter ended June 2023, which is nearly flat over earnings in the same period of the previous year. The revenue for the just-ended quarter was 14 per cent higher at Rs 37,440 crore compared to the year-ago period "backed by strong and consistent performance delivery across the portfolio", the company said.
In a big push to the production-linked incentive (PLI) scheme, the government has nearly doubled (increase of 81 per cent) the allocation in five key industry segments from Rs 8,405 crore in the Revised Estimate of FY24 to Rs 15,198 crore in the Interim Budget for FY25. The segments cover over eight PLI schemes, including mobile phones, IT hardware, pharma (PLIs for medical devices, intermediates and pharmaceuticals), food processing, telecom hardware and, auto and auto components. In FY24, DPIIT officials, however, said that the disbursements would be much higher at around Rs 11,000 crore than what has been budgeted for the year.
Taking a strong view of Google pulling out some apps from its Play Store, the government on Saturday said delisting of Indian apps cannot be permitted and that the tech company and the startups concerned have been called for a meeting next week. In an interview to PTI, IT and Telecom Minister Ashwini Vaishnaw said the startup ecosystem is key to the Indian economy and their fate cannot be left to any big tech to decide. The minister's comments assume significance as Google on Friday began removing some apps, including popular matrimony apps, from its Play Store in India over a dispute on service fee payments, even as apps and well-known startup founders cried foul.
The Unified Licence for all 22 Service Areas across India will make the company the first telecom operator in the country to get pan India Unified Licence, the company said in a statement.
Govt says there is enough spectrum, telcos differ
The special cell said it was also probing whom Lalit was in touch with on social media, adding that it was also investigating if the alleged security breach mastermind was speaking to others on social media and, if so, what was said.
The Department of Telecommunications has called a meeting of the heads of all leading telecom companies offering GSM technology services on November 21 to resolve contentious issues that have arisen following recent changes in telecom policy.
Prime Minister Manmohan Singh on Thursday said a strong domestic manufacturing base in electronics and telecommunications will mitigate burden of growing imports for the sector.
In the debate whether spectrum was over- priced or not, the focus seems to have shifted from Videocon's telecom gamble.
Typically these are high-beta stocks and earnings are volatile
The fear of another scam pushed the government into a rather long period of so-called 'policy paralysis'. To play it safe, the price of spectrum in all subsequent auctions was benchmarked to the high 3G rates, says Surajeet Das Gupta.
Experts say going ahead data price will fall further due to competition
In its annual report on telecom sector, the US Trade Representative also said there were barrier concerns regarding supplying satellite services in China and India.
Oil to telecom conglomerate Reliance Industries (RIL) has initiated the process to seek shareholders' approval for the appointment of the third generation of the Ambani family on the company's board. The remote voting through postal ballot will start from September 27 onwards. In a separate note, CreditSights said a trust and hold-co model could be a possibility for the anticipated succession at RIL.
The Department of Telecommunications (DoT) will finalise its internal view on the Telecom Regulatory Authority of India (Trai's) recommendations, which was given in May last year, on mergers and acquisitions, spectrum allocation, spectrum sharing and other licencing aspects by the end of this month, a senior official from the department said.
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore (Rs 110 billion) received in 2013.
A day ahead of the interim Budget, India slashed import duty on spare parts, like battery cover, lens and SIM socket, used in mobile phone manufacturing to 10 per cent, from 15 per cent. The duty cut is aimed at boosting local production and exports, as well as reducing prices in local markets. The finance ministry on January 30, notified the cut in duty on all goods for use in manufacture of cellular mobile phones to 10 per cent.
The Symbiosis Institute of Telecom Management invites applications for admission to its two-year, full-time autonomous Post-graduate Diploma in Telecom Management Programme with dual specialisation in Marketing & Finance and Systems & Finance.
For the PMO this is urgent as the Digital India framework would depend on how the telecom companies perform. It is also linked to the proposed auction of 5G airwaves.
Lower margins, caused by substantial cash outflows and increasing competition, are seen as negatives for the sector.
The interconnection charge has been reduced.
Vodafone Idea on Monday paid Rs 2,500 crore to DoT and promised to pay another Rs 1,000 crore before the end of the week.
Telecom players have started protesting against government's move to allow Voice over Internet Protocol. They say Reliance will be the biggest beneficiary.
The group is making a foray into the telecom space even as it closes in on Daewoo Electronics.
The CBI contended before the Delhi high court on Tuesday that there were glaring illegalities in the trial court judgment that acquitted former telecom minister A Raja and others in the 2G spectrum allocation scam case.
Since August 2013, FIPB has approved two FDI proposals in the telecom sector.
DoT has also announced that it will conduct third round of auction but dates and other final details have not been released yet.
The Association of Unified Telecom Service Providers of India, the CDMA operators' body, said mobile services could become dearer by 28 paisa per minute if the recommendations by the Telecom Regulatory Authority of India are accepted in their current form.
Last week, while releasing the 100-day agenda for telecom sector, Sibal had announced formulation of a new and comprehensive National Telecom Policy, 2011 that he said will be 'clear and transparent'.
The Telecom Policy 1999 which revolutionised the telecom sector will be revamped soon with the Department of Telecom likely to retain licensing powers.
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.
Buyers from 19 countries participated and showed interest in sourcing from India.
Analysts have given a thumbs up to the Reliance Industries (RIL) and Walt Disney Co. (Disney) proposed a joint venture (JV). The stock of the Mukesh Ambani-controlled company gained nearly 1.5 per cent on Thursday to Rs 2,952 levels as compared to the S&P BSE Sensex that traded marginally weak, down 0.2 per cent to 72,172 levels in intra-day trades.
Faced with numerous challenges relating to spectrum allocation, spectrum charges, tariffs and challenges on the regulatory front, the telecom sector hopes for positive steps in the Union Budget 2013-14 to provide the much needed momentum to the sector.
Faced with numerous challenges relating to spectrum allocation, spectrum charges, tariffs and challenges on the regulatory front, the telecom sector hopes for positive steps in the Union Budget 2013-14 to provide the much needed momentum to the sector.
Analysts expect structural risks such as risk to voice revenues, steep correction in data realisations, capex spend and rise in churn and subsequent increase in costs to continue in the medium term
Billionaire Mukesh Ambani's children -- Isha, Akash and Anant -- on Monday were appointed on the board of his energy-to-technology conglomerate Reliance Industries Ltd, in what is seen as a clear path of succession planning at India's most valuable company.
The Mubble app helps users track and control their mobile data usage and telecom spends.
The Symbiosis Institute of Telecom Management invites applications for admission to its two-year, full-time autonomous Post-graduate Diploma in Telecom Management Programme.
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