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07 April 2021
Reliance Jio Infocomm Ltd (RJIL) on Tuesday said it has entered into a definitive agreement with Bharti Airtel Limited for acquisition of right to use spectrum in the 800 MHz band in Andhra Pradesh, Delhi and Mumbai circles through spectrum trading.
Jio signed an agreement with Airtel to aacquire some of the latter’s spectrum in the 800 MHz band in the three telecom circles, totally valued at Rs1,497 crore.
As part of the agreement, Airtel would receive Rs1,038 crore from Jio for the proposed transfer. In addition, Jio will also assume the future liabilities of Rs459 crore relating to the spectrum.
Reliance, Bharti Airtel gain over 2% each on spectrum trading
April 07, 2021
Reliance Jio Infocomm has entered into a ₹1,037.6-crore deal with Bharti Airtel
The shares of Reliance Industries and Bharti Airtel gained over 2 per cent each on Wednesday after Reliance Industries’ arm, Reliance Jio Infocomm Ltd, entered into a definitive agreement with Bharti Airtel for the acquisition of the right to use spectrum in the 800MHz band in Andhra Pradesh, Delhi and Mumbai circles through spectrum trading.
At 10:58 am, Reliance Industries was trading at ₹2,037 on the BSE, up ₹53.35 or 2.69 per cent. It hit an intra-day high of ₹2,046.10. It opened at ₹1,992.20, which is also the day’s low, as against the previous close of ₹1,983.65. On the NSE, it was quoting ₹2,037.50, up ₹53.20 or 2.68 per cent.
6 hours ago
Bharti Airtel is selling spectrum from its 800MHz band in Andhra Pradesh, Delhi and Mumbai to Reliance Jio, the telcos said on Tuesday in announcements to the press (1, 2). Through this agreement the first of its kind , Airtel will receive Rs 1037.6 crores from Jio for the proposed transfer, which will be subject to regulatory approvals. In addition, Jio will assume future liabilities of Rs 459 crores relating to the spectrum.
“The trading agreement is in accordance with the Spectrum Trading Guidelines issued by the Department of Telecommunications,” Jio said in its press release. “With this trading of right to use spectrum, RJIL will have 2X15MHz of spectrum in the 800MHz band in Mumbai circle and 2X10MHz of spectrum in the 800MHz band in Andhra Pradesh and Delhi circles, thereby further consolidating its spectrum footprint in these circles.” Jio said it will use the spectrum to improve its network capacity; the telco is gearing up to do 5G trials, as and wh
Markets likely to witness lacklustre trade; eyes RBI’s monetary policy
April 07, 2021
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Stocks to watch out for today: Barbeque-Nation, RIL, Cholamandalam Investment, Axis Bank, M&M and Concord Drugs Markets are likely to witness another lacklustre trading on Wednesday, even as the Reserve Bank will unveil its monetary policy in the afternoon. However, global stocks continue to unsupportive of bulls, with the US and some Asian markets being listless.
SGX Nifty at 14,760 (8 am IST) indicates a flat opening, as Nifty futures on Tuesday closed at 14,750. While Dow Jones, Nasdaq and S&P 500 closed marginally lower overnight, Asian markets such as Japan s Nikkei, China s Shanghai, Australia s ASX and Korea s Kospi were little changed in the morning.