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  • Telecom Firms Move Top Court To Seek Relief In Adjusted Gross Revenue Matter
    According to the telecom department, Bharti Airtel owes around Rs 23,000 crore, Vodafone Idea Rs 19,823.71 crore and Reliance Communications Rs 16,456.47 crore.
  • HDFC Bank Slips On Rise In Bad Loans
    Post market hours on Friday, HDFC Bank reported a stellar 32.8 per cent increase in its net profit for the quarter ended December 31, 2019. The private lender posted a consolidated net profit of Rs 7,416.5 crore in the third quarter of this fiscal, as opposed to Rs 5,585.8 crore in the corresponding quarter last fiscal. Net interest income (NII), the difference between interest earned and interest paid, for Q3 FY20 increased 19.9 per cent to Rs 14,173 crore on the back of growth in advances.
  • TCS Weakens On Muted Q3 Numbers
    Post market hours on Friday, the country's largest software services company reported net profit of Rs 8,118 crore in the quarter ended December 2019, marking an increase of 0.9 per cent from profit of Rs 8,042 crore in the previous quarter. TCS' revenue from operations rose 2.25 per cent to Rs 39,854 crore from Rs 38,977 crore in the previous quarter.
  • Reliance Industries Declines Post Record Q3 Numbers
    The net profit of Reliance Jio Infocomm, the telecom arm of Reliance Industries, rose 62 per cent to Rs 1,350 crore in December quarter, Reliance Industries said. Reliance Jio's revenue rose 28 per cent to Rs 13,968 crore. The net profit of the retailventure, Reliance Retail Ventures more than doubled to Rs 1,757 crore and revenue rose 27.4 per cent to Rs 45,327 crore.
  • Airtel Launches Rs 179 Prepaid Pack With Rs 2 Lakh Insurance Cover: All You Need To Know
    Bharti Airtel Rs 179 Plan : The Rs 179 pack is designed to serve entry-level smartphone users and feature phone users in semi-urban and rural markets, Bharti Airtel said. Subscribers to the Rs 179 prepaid bundle will get the facility of unlimited calling to any network, 2 GBs of mobile data, 300 SMSs and a term life cover of Rs 2 lakh from Bharti AXA Life Insurance.
  • Piramal Enterprises Divests DRG Business For $950 Million
    "Piramal Enterprises Limited today announced that PEL DRG Dutch HoldCo BV, a 100 per cent subsidiary of PEL and the holding company for DRG... has signed a definitive agreement for the sale of DRG to Clarivate Analytics plc, a global leader in providing trusted insights and analytics, for a sale consideration of US$950 million," the company said in a statement on Friday.
  • Reliance Jio Net Profit Jumps 62% To Rs 1,350 Crore In December Quarter
    Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries, said, -Jio has continued on its unprecedented growth journey receiving overwhelming customer response for best in class mobile connectivity services. We are delivering on our promise to be the driver of digital revolution in the country. Jio is also determined to redefine the wireline infrastructure, home entertainment and enterprise market in India with its FTTx services which bundle best-in-class connectivity with bouquet of digital content and services".
  • HSBC Cutting Around 100 Staff In Equities Business: Report
    HSBC said it could not provide a comment as the bank is in a closed period ahead of reporting full-year results for 2019.The cuts come as the bank's interim chief executive Noel Quinn prepares to update investors on the lender's new strategy when it reports the results on Feb
  • Bharti Airtel Gains, Vodafone Idea Nosedives After Supreme Court Rejects AGR Review Plea
    It may be recollected that the telecom department claimed dues of around Rs 92,000 crore as license fee and Rs 41,000 crore as spectrum usage fee from Bharti Airtel, Vodafone Idea and Reliance Communications (RCom). According to the telecom department, Bharti Airtel owed around Rs 23,000 crore, Vodafone Idea Rs 19,823.71 crore and Reliance Communications Rs 16,456.47 crore. Reliance Communications had shut down voice operations in December 2017 and filed for bankruptcy last year.
  • Vodafone Idea's Shares Dive A Record Amount Over $4 Billion Payout
    Local wireless operators including Vodafone Idea and Bharti Airtelsuffered a blow Thursday, when the nation's Supreme Court rejected their appeal against an October verdict, requiring them to pay as much as $13 billion for spectrum and license fees. The companies were counting on some relief, such as a reversal of the earlier order, reduced liabilities or even staggered payment.
  • Jet Airways To Sell Netherlands Business To Dutch Airline
    Jet Airways did not detail the assets held in Netherlands. Once India's biggest private carrier, Jet stopped flying in April last year after running out of cash, leaving thousands without jobs and pushing up air fares across the country
  • ED Summons AirAsia CEO Tony Fernandes, Other Executives In Money Laundering Case
    The officials said while Mr Fernandes has been summoned on January 20, a few others from the airline's current and past management have also been asked to depose before it for questioning in the following days. The executives have also been asked to bring certain case-related documents when they appear before the ED so that the probe into the case can be taken forward, they said.
  • Airtel Considers Filing Curative Petition In Adjusted Gross Revenue Case
    Curative petition is the last constitutional remedy available to a person whose review petition has been dismissed by the Supreme Court.
  • GMR Infrastructure To Sell 49% Stake In Airports Business
    According to a regulatory filing, Tata Group's TRIL Urban Transport Private Ltd will acquire stake in GMR Airports.
  • Jeff Bezos Says To Invest $1 Billion To Digitise Small Business In India
    Amazon chief executive officer Jeff Bezos said on Wednesday that his company will invest $1 billion in India, for digitising small and medium businesses in the country.

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