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The combined market valuation of 6 of the top-10 most valued firms jumped Rs 1,97,734.77 crore last week, with ICICI Bank and HDFC Bank emerging as the biggest winners, in-line with optimistic trends in equities. Last week, the BSE benchmark jumped 1,653.37 points or 1.99 per cent. The BSE benchmark soared 1,359.51 points or 1.63 per cent to settle at an all-time high of 84,544.31 on Friday. During the day, it jumped 1,509.66 points or 1.81 per cent to hit the lifetime intra-day peak of 84,694.46. The valuation of ICICI Bank surged Rs 63,359.79 crore to Rs 9,44,226.88 crore, the most among the top-10 firms. HDFC Bank added Rs 58,569.52 crore taking its market valuation to Rs 13,28,605.29 crore. Bharti Airtel's valuation soared Rs 44,319.91 crore to Rs 9,74,810.11 crore. The market capitalisation (mcap) of Reliance Industries climbed Rs 19,384.07 crore to Rs 20,11,544.68 crore. Hindustan Unilever's valuation gained Rs 10,725.88 crore to Rs 7,00,084.21 crore and that of ITC went u
Bharti Airtel on Friday announced between 10-21 per cent hike in mobile tariffs, a day after larger rival Reliance Jio announced an increase in rates. Airtel, in a release, said that the revision in mobile tariffs will be effective from July 3. "We have ensured that there is a very modest price increase (less than 70 paise per day) on entry-level plans, in order to eliminate any burden on budget challenged consumers," the Sunil Mittal-led telecom firm said announcing the revision in mobile tariffs. Bharti Airtel said it has maintained that the mobile Average Revenue Per User (ARPU) needs to be upwards of Rs 300, to enable a financially healthy business model for telcos in India. "We believe that this level of ARPU will enable the substantial investments required in network technology and spectrum and offer a modest return on capital," the telco said. Among the unlimited voice plans, Airtel has raised tariffs in the ballpark range of about 11 per cent, and accordingly rates are rev
Leading telecom service provider Bharti Airtel Thursday said it has expanded its 5G network to all 23 districts of West Bengal, which will bring the high-speed technology to its 1.6 million customers. This marks a significant milestone for Airtel as the company has achieved 5G coverage across all districts and union territories in the country within a year of the launch of the service, the company said. Airtel boasts of about 22.5 million total customer base in Kolkata and West Bengal circles out of which 1.6 million is already on 5G. The adoption of 5G network is happening very fast, its officials said. "We were the first telecom operator to deploy high-speed 5G technology in West Bengal and we are committed to connecting lives across the state," Airtel CEO (West Bengal) Ayan Sarkar said. The telecom major's expansive network now covers areas ranging from the tranquil tea gardens of Darjeeling to the colonial town of Chandannagar, the iconic Eden Gardens cricket stadium in the ci
With the start of the World Cup cricket tournament, Reliance Jio and Bharti Airtel have rolled out plans to woo cricket fans. Reliance Jio has started offering multiple prepaid plans bundled with Disney+ Hotstar where users will be able to watch World Cup cricket matches. Bharti Airtel has launched two plans, which include unlimited data for 2 days against a payment of Rs 99 and 6GB of additional data with 1-day validity for Rs 49. On the other hand, Jio has rolled out monthly, quarterly and annual plans bundled with data, unlimited voice, and subscription to Disney+ Hotstar mobile. Jio's basic plan is priced at Rs 328 and comes with 1.5 GB high-speed data per day for 28 days and a 3-month Disney+ Hotstar mobile subscription. In addition, Jio has also introduced a Rs 758 plan, which offers 1.5 GB of high-speed data per day for 84 days and comes with a 3-month Disney+ Hotstar mobile subscription. Similarly, plans priced at Rs 388 and Rs 808 offer 2 GB of high-speed data per day fo
Bharti Airtel on Monday said it is well-positioned to usher in the 5G revolution in India after Sunil Mittal-led telco acquired spectrum worth Rs 43,084 crore in the auction. Airtel acquired 19867.8 MHz spectrum in 900 MHz, 1800 MHz, 2100 MHz, 3300 MHz and 26 GHz frequency bands, bolstering its spectrum holding. "The acquisition of this vast amount of spectrum strapped on to an already industry best existing pool of spectrum will mean that the company does not need to spend any material sum on the spectrum for many years to come," Airtel said in a statement. In addition, the spectrum buy has enabled Airtel to drastically reduce the payout towards spectrum usage charges (SUC) and eliminate the adverse arbitrage compared to new entrants. "Airtel now has the widest mobile broadband footprint across the country, making it well-positioned to usher in the 5G revolution in India," the statement said and claimed it is set to "lead India's 5G revolution". From demonstrating India's first 5