Indian conglomerate Reliance denied a report Thursday that it was planning to sell a $20-billion stake in its retail business to US rival Amazon in a deal that could upend the country’s hugely lucrative e-commerce sector. The report published by Bloomberg on Thursday said that Reliance, owned by Asia’s richest man Mukesh Ambani, had offered … Read more
Telecom consumer base in the country dipped to around 116.36 crore in May but service providers were able to narrow the loss of subscriber base to 57.6 lakh as compared to the previous month, according to data released by the sector regulator Trai on Wednesday. The telecom subscriber base had declined 85.3 lakh in April, … Read more
Reliance Industries, India’s most valuable company, will hold its first online AGM on Wednesday and it promises to be a much bigger affair with a brand-new virtual platform that can log more than 1 lakh shareholders from 500 locations simultaneously. Reliance had so far held all in its annual general meeting (AGM) physically with shareholders … Read more
That could either have meant that Jio Platforms would raise about $5.7 billion more, or sell another 10% stake. But as it turns out, the company has ended up selling an additional 12.4% stake already to global investors, and has raised $8 billion more. At the rate Jio Platforms is signing up investments—$1.3 billion per … Read more
To build 5G speed network connections and IoT functionalities across industries. With its AI-powered novel communication architecture, the company is set to release a beta version of next-generation satellite constellations this September. It plans to launch a fully operational constellation of satellites in early 2021 into Low-Earth-Orbit or Geosynchronous Equatorial Orbit. The company plans to … Read more
Three days after Reliance Retail signed a commercial pact with Facebook’s WhatsApp to further the reach of its online venture JioMart, the retailer went live in the suburban Mumbai areas of Navi Mumbai, Thane and Kalyan. Reliance’s tie up with WhatsApp means it gets direct access to WhatsApp’s user base of over 400 million. To … Read more
Supreme Court has dealt a significant blow to the telecom sector’s hopes. Vodafone Idea is the most impacted one. Why should it survive?
For the quarter ended December 31, 2019, DMart reported a 53.3 per cent yoy rise in net profit at Rs 394 crore. Profit before tax for the period under review stood at Rs 497.34 crore, a YoY growth of nearly 26 per cent. Net sales for the period grew nearly 24 per cent to Rs … Read more
The much awaited JioFibre broadband plans are out. Details are available on the Company website. The plans range from Rs 699/ month to Rs 8,499/ month with minimum speed of 100 mbps going all the way upto 1GBPS. Along with the broadband internet services, Jio offers its customers multiple other value added services – landline … Read more