According to the ratings agency, data consumption would continue to grow with increased transition to remote working and online transactions - this would help telcos' strengthen their earnings and cash flow
He urged the industry to work together in areas such as infrastructure but said he was strictly opposed to any cartelisation
The surge comes a day after the Union Government announced a slew of reforms for telecommunication sector including a four-year moratorium on payment of dues and allowing 100 percent FDI in the sector
In big bang reforms, the Union Cabinet on Wednesday approved a relief package for the telecom sector that includes a four-year moratorium on payment of statutory dues by telecom companies as well as allowing 100 per cent foreign investment through the automatic route.
The move is aimed at instilling investor confidence in the beleaguered company; Kumar Mangalam Birla had offered his stake in the Vodafone-Idea combine to the Government last month
According to PTI, the Union Cabinet is considering a relief package in the form a moratorium on payment on spectrum dues alongside revision of ADRs, spectrum charges and on unpaid dues
From bankruptcy to selling off of stakes to the government, rumours are abuzz about Vi. We tell the facts from the fake.
A bone of contention since it was passed in 2012, the retro tax has spooked investors for years.
The bill provides for the withdrawal of tax demand made on "indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012 (i.e. the day the retrospective tax legislation came into being)."
As Kumar Mangalam Birla steps down making way for Himanshu Kapania to take over as non-executive chairman of Vodafone-Idea, it is time to analyse what was the real meaning of his letter to the government.
The stock plunged 10.30 per cent to close at Rs 7.40 on the BSE. During the day, it tumbled 13.09 per cent to Rs 7.17 -- its 52-week low.
KM Birla, who holds around 27 per cent stake in VIL, said investors are not willing to invest in the company in the absence of clarity on AGR liability among other issues
This is the second loss the government has suffered in recent months over the retrospective levy of taxes.
The issue is being watched closely after a fresh disappointment for the income tax (I-T) department in the Cairn case.
Cairn Energy was slapped with a tax demand of Rs 10,247 crore in March 2015 over alleged capital gains
The decline in subscriber base during April was preceded by a loss of 28 lakh connections in March, which saw the lockdown being imposed towards the end, India Ratings and Research said.
A plea filed by the government said if the telecom companies face proceedings under the Insolvency and Bankruptcy Code, it will have adverse impacts on competition and service in the telecom sector.
While Airtel paid Rs 10,000 crore, Vodafone Idea Ltd put in Rs 2,500 crore and promised to pay another Rs 1,000 crore before the end of the week.
Punjab Chief Minister Charanjit Singh Channi addresses media after the oath taking ceremony at Punjab Bhawan in Chandigarh. AICC General Secretary Harish Rawat with PPCC President Navjot Singh Sidhu are also seen.PTI Photo
Prime Minister Narendra Modi meets Gujarat Chief Minister Bhupendra Patel in New Delhi.PTI Photo
Himachal Pradesh Chief Minister Jai Ram Thakur during a public meeting in Mandi.PTI Photo
An artist busy making an idol of Goddess Durga at a workshop ahead of Navaratri festivities in Mumbai.Photograph by Dinesh Parab/Outlook
Idols of Goddess Durga at a workshop ahead of Navaratri festivities, Goregaon in Mumbai.Photograph by Dinesh Parab/Outlook
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