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Top headlines: Telcos battle over subscribers; new stimulus for demand

From govt announcing new scheme to boost consumer spending to telcos war over subscriber base, here are top headlines this morning

Top Business Headlines | Top business stories | TRAI

BS Web Team  |  New Delhi 

telecom, telcos
VLR denotes subscribers who are active on the network, can send or receive calls, don’t have their mobile switched off.

Reliance Jio, Bharti Airtel ring in active vs inactive subscriber battle

Reliance Jio’s falling share of active customers, also known as the Visitor Location Register (VLR), against Bharti Airtel's growing numbers, is a talking point in telecom circles. VLR denotes subscribers who are active on the network, can send or receive calls, don’t have their mobile switched off and are not outside the coverage area. For some investors and analysts, Reliance Jio’s lower figure is definitely concerning, a source said. Read More

Fiscally restrained govt tries new formula to boost festive consumer spend

Finance Minister Nirmala Sitharaman on Monday announced a two-pronged stimulus package aimed at bolstering capital expenditure and stimulating consumer demand during the upcoming festive season, estimating a Rs 73,000-crore boost by the end of this financial year. The measures, which signalled the Centre’s fiscally conservative approach towards boosting demand, included giving money into the hands of central government employees, but with strict conditions on spending towards goods and services; a limited hike in its capital expenditure. Read More

Retail inflation at 8-month high in September; August IIP in negative zone

Days after the Reserve Bank of India (RBI) predicted gradual easing of retail inflation, consumer price index-based inflation for September came in at 7.34 per cent, from 6.69 per cent in the previous month on account of rising food prices. This marks the highest level recorded in eight months, and well above the RBI’s target range of 2-6 per cent. Though moderation is expected after the kharif harvest, an uptick in inflation when economic recovery is underway is troublesome. Read More

Amazon, Flipkart woo 'kiranas' for upcoming festive season sales

Thousands of kirana and local store owners across the country are being wooed by e-commerce giants Flipkart and Amazon for the upcoming festive season sales. Especially as the pandemic has accelerated the shift to e-commerce. E-commerce is booming and is expected to grow at 40 per cent with a GMV (gross merchandise value) of $38 billion this year, according to research firm RedSeer Consulting. Read More

Double-digit surge in insurance sector by FY21-end: LIC MD Raj Kumar

The life insurance industry, which saw a huge slump in business in the first quarter of the current financial year due to the virus-induced lockdown, returned to growth path by posting strong numbers in Q2. With the worst behind, the life insurance sector is expected to get back to double-digit growth by the end of this fiscal year (FY21), said Raj Kumar, managing director (MD), Life Insurance Corporation (LIC). Read More

GIC, Phoenix group start talks over Rs 800-crore office project deal

Singapore’s sovereign fund GIC is in talks with Hyderabad-based Phoenix group to buy a 1.2 million square feet office project in the city, said sources in the know. The deal is taking place at a cap rate of 8.25 per cent and is expected to be around Rs 800 crore in value, said sources. Cap rate or capitalisation rate means net operating income divided by current market value of the asset. Read More

Jio adds 3.5 million customers in July, Voda Idea loses 3.7 million: Trai

continued to expand its subscriber base, adding another 3.55 million users in July, the same month in which Vodafone Idea (Vi) lost 3.72 million users, according to the Telecom Regulatory Authority of India’s (Trai’s) latest data. Bharti Airtel added a net 3.26 million wireless subscribers during the month. Read More

Vedanta: Rising commodity prices, dividend hopes augur well for the stock

Vedanta’s stock plunged more than 20 per cent on Monday after the failed delisting attempt by its promoter and founder, Anil Agarwal-led Vedanta Resources (VRL). The stock had already corrected 11 per cent in the previous three trading sessions. The stock had seen good gains in the past two months and touched Rs 140 levels in expectation of the delisting going through at over Rs 170 per share. Read More

Higher capital expenditure could help states deal with projects: Experts

The Centre’s push for states to increase spending on projects and clear dues through higher capital expenditure is likely to benefit industry in getting dues cleared, according to experts. This is because half the spending on infrastructure is done by states. A few others, however, have questioned the requirement for such borrowings since states are unable to meet their basic spending needs. The central allocation of Rs 25,000 crore, in addition to Rs 4.13 trillion given in the Union Budget, would be provided to states for capital expenditure on roads, defence, water supply. Read More

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First Published: Tue, October 13 2020. 07:55 IST