SBI Cards IPO could have boundless prospects, or become a victim of arrested development.
Qualcomm’s plans to be a 5G ecosystem enabler in India and participate in the development of country-specific 5G use cases comes at a time when sections in the government and also among India’s older telcos have often maintained that globally popular 5G use cases such as automated cars to robotics surgery won’t work in the India context.
According to Forbes' 'The Real-Time Billionaires List', Ambani's 'real-time net worth' stood at $60.8 billion on Thursday.
Reliance Retail shares, in the unlisted market, have risen over 75 per cent in the five months.
The sector regulator has suggested a base price for 5G airwaves of Rs 492 per MHz and has proposed a minimum sale of 20 MHz blocks. That would mean a telco having to spend close to Rs 10,000 crore for 20 MHz and Rs 50,000 crore for 100 MHz--rates that the companies have said are exorbitant.
Talks are at a preliminary stage and may not result in a transaction, according to people familiar with the matter.
The Mukesh Ambani-led Jio, which had started a tariff battle in the sector with its entry in 2016, has increased its headline price plans for the first time since its launch. Its two older rivals had raised their prices earlier this week, also by about 40%.
After Vodafone Idea and Bharti Airtel, Reliance Jio too has announced to hike its tariffs by about 40 per cent.
What made Saturday evening special was that the political heavy hitters spoke candidly on issues that mattered most to industry heavy hitters, the latter responded, and through this lively discussion the event virtually became an agenda setter for the government and India Inc.
Yahoo India's 'Decade in Review' list reflects the year's top trends and the Ayodhya verdict on the disputed land of Ram Mandir-Babri Masjid took the first spot followed by abrogation of Article 370 came in at number two. Surgical strikes, GST, rise of BJP, Article 377, Nirbhaya rape case and Mangalyaan made it to the list as well.
New customers are now being billed, and old customers have been told to choose one pack or another.
On a year-to-date basis, Mukesh Ambani's wealth increased by $13.70 billion to $58 billion.
Sony will own a majority 51% stake in the proposed JV, while TV18 will own the remaining 49%. As part of the deal, the two companies will transfer 100% of SPN, 51% of TV18’s share in Viacom18 (US entertainment conglomerate Viacom Inc owns 49% in Viacom18) and 100% of Jio Studios business to the new entity, one of the sources said.
The Indian business leaders discussed sustainable market initiatives with the British royal.
In an apparent attempt to counter billionaire Mukesh Ambani-run Jio's narrative on the issue, rival industry associations CII and FICCI have closed ranks and written to Finance Minister Nirmala Sitharaman seeking relief for telecom companies.
The 59-year-old Sena leader is the first member of the Thackeray family to hold the top post.
Home Minister Amit Shah, FM Nirmala Sitharaman and Commerce and Industry Minister Piyush Goyal seek industry’s support and suggestions, and promise govt will listen to them. Shah also asked industry to engage with ministers and regulators to resolve problems. Sitharaman hinted at a big package of infrastructure projects soon
The starry affair saw SRK and the Bachchans in attendance.
Airtel can easily raise Rs 40,000 crore by selling assets, while Voda Idea has no dearth of funds, he said.
Billionaire Mukesh Ambani on Tuesday said the slowdown in the Indian economy is temporary and the recent measures taken by the government will help reverse the trend in the coming quarters. Speaking at Saudi Arabia's annual investment forum, also known as 'Davos in the desert', he said the reforms undertaken by Prime Minister Narendra Modi's government since August will bear fruits in the next few quarters.Slowdown in India temporary, reforms undertaken to reverse trend: Mukesh Ambani
"The current slowdown is temporary," Ambani said at the opening plenary of the third edition of Future Investment Initiative (FII) in Riyadh on Tuesday.
Ernst & Young has estimated that it would cost $100 billion or so to launch 5G in India.
Mukesh Ambani said the reforms undertaken by Modi govt since August would bear fruits in the next few quarters.
Jio's dues will need to pay will include those on RCom’s spectrum that was part of the 2016 trading deal.
It is now the world’s 67th most valuable stock and has risen 41 per cent this year.
It took a little more than a month for the firm to add another Rs 1 lakh crore to its valuation.
All the three private telecom players on Sunday announced pre-paid tariff plans with 40-50% higher rates.
Bharti Airtel has submitted conditional bids of around Rs 9,500 crore for RCom's telecom assets.
Reliance Industries Ltd (RIL) on Friday said it will set up a new subsidiary to bring all its digital initiatives and apps under a single entity, and infuse Rs 1.08 lakh crore equity into this new unit. The new structure is similar to those adopted by tech titans globally, and will offer a compelling investment proposition to strategic and financial investors, many of whom have evinced strong interest in partnership, the company said in a statement, adding that this will also create the largest digital services platform company in India.Mukesh Ambani wants to make Reliance Jio "virtually net debt free" by March 31, 2020
Nifty Metal was among the biggest gainers, up 1.98%. Nifty PSU Bank Index surged 3.44%.
Azim Premji, who created headlines by announcing a USD 21 billion commitment to charity, is second in the Edelgive Hurun India Philanthropy List 2019.
SC's judgement backing the govt’s definition of adjusted gross revenue (AGR) has further piled up the woes for India's other telecom players except Jio. Bharti Airtel and Vodafone Idea Ltd. have racked up a combined net debt of almost $28 billion.
The stock — which has risen 36% so far this year — is trading at 21 times FY20 estimated earnings and 3.5 times book value. The RIL stock ended up 2.47% at Rs 1,547 on the BSE Wednesday. RIL chairman Mukesh Ambani, with a net worth of $58 billion, remains the richest Asian.
It took 21 sessions for RIL to jump from Rs 9 lakh crore to near Rs 10 lakh crore mark.
The Mukesh Ambani group is said to have informed the Empowered Expert Committee of all selected Institutes of Eminence during a review on November 16 that the design for its 40,000 square foot building campus complex in Navi Mumbai is in place. Reliance Chairman Mukesh Ambani, his wife Nita Ambani and daughter Isha Ambani Piramal are in the council.
Year-to-date, RIL shares are up 38.9 per cent, smartly outperforming benchmark Sensex.
“RIL’s consumer businesses driving the upside. Jio and retail to continue to drive upside.”
The scrip has climbed 34 per cent year-to-date. In comparison, 30-share pack Sensex has grown 12 per cent.
Gautam Adani stormed into the top 5 with a total wealth of Rs 94,500 crore.
RCom's September quarter numbers marked the second highest loss posted by any Indian corporate till date.
This year's Met Gala was attended by Isha, the daughter of Asia’s richest man -Mukesh Ambani.
38-year-old Byju Raveendran makes his debut.
Vodafone Idea has soared by 138 per cent since the close of trading Nov. 14.
Jio recently said it would raise tariffs, if directed by Trai, in a manner that does not hurt data consumption or growth in digital adoption. This was a day after Voda Idea and Airtel said they would raise tariffs next month. It has already started charging customers for outbound calls to other networks.
Did you know that Mukesh Ambani's networth is equal to 2.1% of India's GDP? And even after losing 10% of his networth, Lakshmi Mittal is still worth $12.4 billion? Read on to see how much India's 10 richest men gained and lost in the past year.
Reliance was clarifying on reports Wednesday that said Ambani’s stake in the company has increased to 48.87% due to a scheme of arrangement.
Kotak said RIL transferred the treasury shares held by its subsidiaries to Reliance Services and Holdings.
Reliance Services and Holdings on Tuesday said that it has acquired 2.71 per cent stake.
A senior TRAI official, who did not wish to be named, said the regulator is hopeful of firming up its views by November-end but did not divulge further details. The official was speaking on the sidelines of ASEAN-TRAI program on capacity building and sharing of best practices in policy regulation and development.
ED has alleged that Bhushan Power & Steel acquired assets worth Rs 27,559 crore during a period.
Reliance has now officially entered the world's energy royalty, having eclipsed British giant BP.
The Ambanis and Bachchans were dressed in their festive best.
The central government earlier this month replaced the Special Protection Group (SPG) security cover given to Sonia Gandhi, her son Rahul Gandhi and daughter Priyanka Gandhi Vadra by the 'Z-plus' security of the Central Reserve Police Force (CRPF).
Mukesh Ambani has topped the list of richest Indians for the eighth consecutive year.
The Sebi had barred the company and 12 of its promoter group entities from dealing in equity derivatives.
Birla is the latest mogul to burn his fingers in Indian telecom since Mukesh Ambani’s entry.
Mukesh Ambani's much anticipated fiber-to-the-home (FTTH) service is finally launched. JioFiber plan rentals will start at Rs 699 and will go up to Rs 8,499. The lowest tariff will start with 100 Mbps speed. Most tariff plans come with access to all the services.Launched on August 12, Jio Fiber will see its commercial rollout today. The service, which has the potential to alter the broadband landscape in IndiaReliance JioFibre: Mukesh Ambani unveils broadest range of plans
CM Kamal Nath and RIL Chairman Mukesh Ambani met in Mumbai on Wednesday where the Madhya Pradesh CM invited Ambani to invest in new technologies in the state.
Inflows into equity mutual funds slowed down to a five-month low of Rs 6,015 crore for the month.
Jio is likely to be very careful about a tariff hike, as the pricing gap between it & others has narrowed.
Jio is said to have asked RCom’s RP for a 10-day extension of the Nov 11 deadline for submission of bids.
Here are the top stocks and sectors that created all the buzz during the week gone by.
Ambani is enlisting his children to help drive the modernization of his empire.
Wealth of India’s richest person has been swelling like never before. Reliance Industries' promoter and biggest shareholder Mukesh Ambani got richer by close to Rs 29,000 crore since the company’s annual general meeting on Monday.Mukesh Ambani just got richer by over $4 billion!
Since the August 12 AGM, Ambani’s wealth has gone up by $4 billion (Rs 28,684 crore).
New Delhi, Nov 7 () Sector regulator Trai has scheduled for November 15 its open house discussion on the interconnect usage charges (IUC) issue that has seen old and new operators erupt in a war of words recently.
Bollywood celebrates as the legendary actor completes a five-decade-long tenure.
At the AGM, one shareholder told another: 'stick to asking relevant questions'.
After changing the telecom scene forever with Reliance Jio, Ambani is now taking aim at broadband.
Chairman and Managing Director of Reliance Industries Ltd, Mukesh Ambani on Monday said that his company would make several announcements for Jammu & Kashmir and Ladakh region in the near future. "Responding to the Prime Minister's appeal, we stand committed to support people of Jammu and Kashmir and Ladakh in all their developmental needs. Hence, we will create a special task force and you will see several announcements for Jammu & Kashmir and Ladakh region in our developmental initiatives in the coming months," he said at the 42nd Annual General Meeting (AGM).Several announcements for J-K, Ladakh in coming months: Mukesh Ambani
Together, Reliance Retail and New Commerce will become the proxy to India's consumption story, Mukesh Ambani said.
The key beneficiaries would be startups geared towards meeting India's needs in developmental, agricultural and creating a better livelihood for all.
As much as 90 per cent of India's $700 billion retail market is unorganised, made up mostly of kirana stores.
Services under the plan will be available at one-fifth to one-tenth of current global rates.
The perennial disruptor is at it again, bringing India to the edge of a new wave of price disruptions.
In its latest letter to Prasad dated November 1, Jio said the government does not have the option of going against the Supreme Court to provide “any of the relief sought” by the Cellular Operators Association of India for its “two select members, Airtel and Vodafone Idea.
The annual jamboree is expected to be even a bigger affair this time because it would be its 50th anniversary and several top global leaders might be present. While the official list of public figures would be announced closer to the summit,speculation is abound that Trump as well as Putin both might be there after both of them skipped last year's Davos.
Three banks agreed to loan Ambani’s RCom money in 2012, which he has since defaulted on.
RIL was also the first company to reach Rs 8 lakh crore mark in August last year.
Jio said that it will raise tariffs in next few weeks, following steps of its competitors Airtel & Voda Idea.
Mukesh Ambani-led Jio has maintained that if the Telecom Regulatory Authority of India postpones the scrapping of IUC from the planned January 2020 deadline, it would end up “subsidising two economically inefficient operators at the cost of users." The provision of such subsidies, Jio said, “is not within the domain of Trai’s functions.”
Ambani foresees India becoming a $10 trillion economy by 2030.
Owing to the early adoption of the ongoing enhancements to LTE technology, the telco’s wireless network is already 4G.
Reliance has invested nearly Rs 5.4 lakh crore over the last five years to generate EBITDA in excess of $1 billion annually for over a decade.
Mukesh Ambani has finally unleashed his triple play of carriage, content and commerce. At the 42nd AGM of Reliance Industries today, he unveiled the Jio Fiber, the much talked-about fiber-to-the-home (FTTH) service. Reliance AGM: Mukesh Ambani unveils Jio Fiber, plans start Rs 700
ITC is one of the biggest beneficiaries of the corporate tax cut, according to analysts.
Jio said in a letter dated October 31 that Ravi Shankar Prasad should not permit the Cellular Operators Association of India to mix the investment-infusing financial package for the telecom industry with the legitimate licence fee and spectrum usage charge obligations arising out of the past conduct of Airtel and Voda Idea.
Isheta Salgaocar's pictures of tiger, clicked along with her father Raj Salgaocar, were on display.
COAI sought govt to bail out Airtel & Voda Idea. Jio says failure of two operators will not impact the sector.
Jio said a "financial windfall" for Airtel, Voda-Idea by waiving action on unpaid dues will violate SC's ruling.
As per the partnership, Jio will leverage the Microsoft Azure cloud platform to develop innovative cloud solutions focused on the needs of Indian businesses.
Ambani has kept salary at Rs 15 crore since 2008-09, forgoing over Rs 24 crore per annum.
The ring duration issue is at the heart of interconnect usage charges spat between older carriers and Jio.
Even Amit Shah, who was supposed to attend the inaugural session, and Nitin Gadkari gave the telecom department’s marquee event a miss.
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