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Mukesh Ambani’s JioFiber to bite MTNL, BSNL; customers may move to Jio
Posted on 6th September 2019
Mukesh Ambani’s JioFiber is out now and the ambitious broadband network is likely to sway customers of PSU telecom firms MTNL and BSNL away. “There could be a churn, especially for customers who are paying in the range of Rs 500-600 a month,” Nitin Soni, director at Fitch Ratings, said in an interview to CNBC TV18. While Reliance Jio’s starting plan may not be disruptive, the company is focusing more on average revenue per user and consumer stickiness, he added. Nonetheless, Reliance Jio offer is very lucrative and will be a gamechanger in India’s broadcast services.

In India, BSNL with over 9 million users, Bharti Airtel with over 2 million users, Atria Convergence Technologies (1.45 million), Hathway Cable & Datacom (0.84 million) and MTNL (0.74 million) are the top five wired broadband service providers, according to TRAI’s latest report on Telecom Subscription Data. Further, top five Wireless Broadband Service providers were Reliance Jio Infocomm Ltd with about 331 million users, Bharti Airtel with 119.09 million, Vodafone Idea (110.50 million), BSNL (12.87 million) and Tata Teleservices (1.40 million), according to the same report.

However, this time, “Reliance Jio seems to be targeting higher, denser broadband coverage,” Rajiv Sharma, Co-head, Institutional Equity Research, SBICAP Securities, told CNBC TV-18. JioFiber is launched in 1,600 Indian cities.

While Reliance Jio has already disrupted the domestic telecom services, leaving behind the erstwhile dominant players including Bharti Airtel and Vodafone-Idea, the company’s JioFiber services are also likely to bring revolution in India’s internet services. JioFiber launch was announced by RIL chairman Mukesh Ambani, on the same day as the company’s Annual General Met. JioFiber is offering a plethora of services such as high-speed broadband, free domestic video calling, TV-video calling, entertainment OTT apps and freebies like 4k televisions to annual subscribers. Reliance Jio launched the service on 5 September 2019, coinciding with the company’s 3rd year anniversary.

Related Companies: Bharat Sanchar Nigam Limited (BSNL)   

Other Latest News
Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict
Posted on 29th October 2019

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.


Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices
Posted on 7th October 2019
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.


LIC pips private insurers in first-year premium growth during April-August
Posted on 13th September 2019
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).


Apollo Hospitals rules out further stake sale
Posted on 13th September 2019
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.

World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah
Posted on 13th September 2019
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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