Reliance Jio, the telecom arm of RIL, last week raised tariff by up to 39 per cent following hikes effected by other service providers.
The Bombay Stock Exchange (BSE) has sought clarification from Vodafone Idea about Birla's comment
Tariff hike for Airtel and Vodafone will be effective from Dec 3, while for Jio the new rates will be applicable from Dec 6
According to official data, the telecom sector's gross revenue fell about Rs 41,000 crore in three years on account of a dip in mobile services rates.
From Airtel, Voda Idea hiking tariffs, Telangana court hearing vet's rape case to Bihar CM Nitish Kumar beginning his tour against climate change, Business Standard brings you top events of the day.
After reporting massive losses in the second quarter after an adverse Supreme Court ruling on adjusted gross revenue issue, the companies decided to increase data charges
The company too announced new plans which will cost up to 42 per cent more compared to the price that Airtel pre-paid customers pay at present for plans in the "unlimited" category
Vodafone Idea this month booked a $7 billion quarterly loss, the biggest in Indian corporate history, in large part due to provisions for payments owed
The meeting assumes significance as the debt-laden and loss-making sector is reeling under massive financial stress
This comes soon after all three private telecom operators announced they were raising mobile phone tariff
In anticipation of the tariff hike, Reliance Industries' market cap crossed the Rs 9.5-trillion mark on Tuesday
Bharti Airtel lost 23.8 lakh users in September to take its total user base to 32.55 crore
Vodafone Idea is now squeezed between high debt and poor revenue realisations
The decision of Vodafone Idea and Airtel to raise tariffs is being seen as a step to encourage the government to offer a relief package to the industry
Vodafone Idea also derecognised the deferred tax assets amounting to Rs 13,940 crore recorded up to June 30, 2019
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AGR liability leads to pre-tax loss of Rs 36,959 crore
A collapse of the mobile operator could translate into total loss of nearly Rs 44,000 crore for the AV Birla group
The relief package may include a cut in licence fee, a two-year moratorium on payment
Most of these companies have seen a sharp erosion in their market values in the wake of the yearlong crisis in India's credit market