Bharti Airtel, Vodafone Idea are losing customer battle to Reliance Jio Posted on 3rd November 2018 |
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| The divide between incumbent telecom operators and latest entrant Reliance Jio, in terms of subscriber additions, continues to prevail even though it’s been more than two years since the Mukesh Ambani-owned company joined the bandwagon. While the incumbent operators, including Bharti Airtel and Vodafone Idea, had guarded their subscriber base against the onslaught of Jio for long, it now looks like the old operators have started to lose. According to the data shared by Cellular Operators Association of India (COAI), all the old telecom operators have lost subscribers in the month of September. Idea tops the list with a loss of over 4 million subscribers, followed by Vodafone, which saw its base decrease by 4.06 million users. Bharti Airtel, which had long been the market leader only to be dethroned by Vodafone Idea recently, saw 2.35 million subscribers leaving its network. The customer addition numbers for Reliance Jio were not available for the month of September as the operator did not share its numbers with COAI. But the company has been adding a healthy number of customers over the last few months. In fact, Jio has amassed 252 million customers at the end of September, in a span of 25 months since the launch of its commercial services in 2016. The telecom market has seen a shake-up since the entry of Jio. While all the incumbent operators have suffered losses due to immense competition, Jio has been making profits over the last few quarters. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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