VIL’s efforts to revive continue. After recent conversion of equity by Govt, the Company has now petitioned the Supreme Court (SC). Petition is to waive more than Rs 45,000 cr of AGR dues, primarily related to interest and penalties. In addition to the principal amount of Rs 12,797 crore in AGR dues, VIL is liable … Read more
Tim Cook had said that Apple plans to source most US-market iPhones from India during the June quarter. (AI image) US President Donald Trump doesn’t want Apple to expand manufacturing in India, but will the Tim-Cook led tech giant listen? Apple reportedly remains committed to its investment strategy in India. Apple has plans to establish … Read more
Airtel’s move comes in the wake of the government recently raising its stake in Vodafone Idea to over 49%. The telecom reform package announced in September 2021 allowed telcos to defer spectrum and AGR (Adjusted Gross Revenue) dues for four years. It also provided the option to the operators to convert interest on these deferred … Read more
MTNL in a regulatory filing has said that it has defaulted on bank loans worth Rs 8,346.24 cr from seven public sector banks. As can be noted, the disclosure related to the defaults occurring during August 2024 to February 2025. The information therefore seems to be already discounted in the stock price. For ease of … Read more
Vodafone Idea (VIL) had originally opted for converting dues into government equity in January 2022. A year later after getting commitment from promoters to infuse further funds, government in 2023 had converted Rs 16,133 dues into 33% equity @ Rs 10/ share. Over the period the same got diluted to 22.63% (mainly due to FPO). … Read more
The tax demand constitutes a significant portion of Samsung’s net profit in India, which stood at $955 million last year. (AFP Photo) India’s tax authorities have demanded Samsung and its local executives to pay $601 million as back taxes and penalties for allegedly evading tariffs whilst importing essential telecommunications equipment, a Reuters report says. This … Read more
In surprise announcements, Airtel first, followed by Jio have signed deals with Elon Musk’s Starlink for high speed internet in India. Starlink’s low orbit satellite based technology provides direct internet access from space, bypassing the need for extensive ground infrastructure. It can provide speeds of up to 220 Mbps, making it a viable solution for … Read more
Indian Continent Investment Limited (ICIL), a promoter-group entity of Bharti Airtel Limited, has today sold 0.84% shareholding (5.11 Cr shares) in Airtel through a market transaction, for an aggregate amount of Rs 8,485.11 Cr. Bharti Telecom Limited (BTL), the promoter of Airtel, anchored the trade by acquiring 1.20 Cr. shares (24% of ICIL’s sale) This … Read more