No more caller tunes as COVID-19 cases decline; netizens react with memes
Major operators like Bharti Airtel, Vodafone, Reliance Jio and Idea had changed their caller tunes as per the directive given by the Indian government.
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Major operators like Bharti Airtel, Vodafone, Reliance Jio and Idea had changed their caller tunes as per the directive given by the Indian government.
The board has approved the special committee of directors to decide upon all matters related to the issuance of securities and debt instruments.
Stocks of Bharti Airtel rose by 4% to ₹714.95 per equity share against the previous close at ₹689.90 per share, in today’s early trade.
In a statement released following the announcement, Gopal Vittal, MD and CEO of Bharti Airtel, stated that the high degree of financial flexibility maintained by the company has resulted in it achieving Nil bank debt for its operating businesses in India.
The government granted the choice of dues moratorium to telcos as part of a recently-announced relief package for the telecom sector.
The report stated that the fine is for "flouting licence conditions by denying Reliance Jio Infocomm adequate points of connection (PoIs) in 2016, which affected the quality of services."
This announcement will certainly provide a cash flow relief on an interim basis to battle with the heavy impending dues.
On Sunday, Bharti Airtel proclaimed in its board of directors meet to earmark around Rs 21,000 crore through a rights issue worth Rs 535 equity per share at the face value of Rs 5 for its shareholders.
On Wednesday Bharti Airtel, after market hours, informed the exchanges that its board will meet on August 29.
Reliance Jio added 54.6 lakh subscribers in June as against 35.5 lakh subscribers in May, while Bharti Airtel added 38.12 subscribers in June. In May Bharti Airtel lost nearly 46 lakh subscribers.
In April, Airtel had inked the deal with Jio to transfer the ‘Right to Use’ of Airtel’s 800 MHz spectrum in Andhra Pradesh (3.75 MHz), Delhi (1.25 MHz), and Mumbai (2.50 MHz).
Airtel's share prices increased by 5%. In February, Airtel’s share price had reached Rs. 623. Analysts attribute Airtel’s growth to the telecom service provider’s new pre-paid and post-paid subscription plans.
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