Reliance Industries Ltd, India’s largest private-sector company, is open to offloading up to 30 per cent stake in its telecom venture, Reliance Jio, to a global strategic partner -- a move to unlock value. But the stake sale will be done only after the telecom company has acquired a sizeable customer base. RIL has already spent close to Rs 33,000 crore (Rs 330 billion) in its telecom venture, expected to be launched early next year. Bankers said any share sale would be good news for ... Rediff.com, 2 months ago
The Telecom Regulatory Authority of India (Trai) has given its recommendations on the much-awaited issue of spectrum sharing. The recommendations, based on which the department of telecommunications (DoT) will issue the final guidelines, would only benefit incumbent operators, which have a higher quantity of airwaves across different bands. This takes the industry a step forward towards maximum use of spectrum by operators, likely to result in seamless services for mobile users. However, the ...Rediff.com, 2 months ago
Reliance Communication will reduce its workforce by up to 5,500 employees from business process outsourcing and shared services operations as the country's fourth-largest telecom operator tries to trim its debt. The Mumbai-based firm is on a cost optimisation drive through outsourcing of network management services and call centre operations. "Of the total 5,500 employees, around 4,000 are BPO employees and the remaining 1,500 are from Shared Services. “These people are being ...Rediff.com, 2 months ago
Telecom brands are finally giving post-paid consumers their place in the sun. Forming less than six per cent of the total subscriber base but contributing up to 25 per cent of total revenues, post-paid customers have seen offers targeted at them only over the last one and a half years. There is also the looming threat of both RJio (pan India) and Airtel (some circles) rolling out 4G data service.Vodafone is the latest to focus on the post-paid sector, launching its flagship branded product ...Rediff.com, 2 weeks ago
The markets slumped in late trades, amid weak global cues, on aggressive selling by institutional investors on concerns that robust US jobs data due later on Friday may give the US Federal Reserve much needed comfort to taper its bond buying program and end its easy money policy stance by raising rates sooner-than-expected. Further, investors also turned cautious ahead of RBI monetary policy meet next week. The 30-share Sensex ended down 414 points at 25,481 and the 50-share Nifty slipped 119 ...Rediff.com, 2 months ago
Benchmark share indices firmed up in late trades to end near their day's highs with the Sensex closing above 26,000 for the second time amid a rally in telecom shares and renewed buying interest in Reliance Industries and HDFC Group shares. Foreign institutional investors which have remained net buyers in the previous four sessions also aided sentiment. The 30-share Sensex ended up 311 points at 26,026 after hitting an intra-day high of 26,050 and the 50-share Nifty gained 84 points ...Rediff.com, 2 months ago
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