RELIANCE JIO FINANCIAL SERVICES
Valuations take centre stage as Sensex touches new peak
Majority of the Sensex constituents now trade above their respective long-term average valuations. It means investors need to be selective while accumulating blue chip names.
Extent and frequency of tariff revisions crucial for financial health of telcos
Following the increase in tariffs, the stock of Reliance Industries rose by 2.3% on Friday to close at Rs 3,131.9. On the other hand, stocks of Bharti Airtel and VIL were under pressure, falling by 1.8% to Rs 1,445.4 and by 3.4% to Rs 17.9 in that order amid profit booking after a recent surge in their prices.
RIL market cap hits Rs 21 lakh crore milestone as target prices rise on Jio tariff hikes
Reliance Industries shares hit record high after Jio's pricing move, driving positive outlook from global brokerages and potential sector re-rating.
Airtel hikes tariffs by 11-21%, a day after Jio
Bharti Airtel announced on Friday that it will raise tariffs for all its prepaid and postpaid users starting July 3. This move follows a similar hike by rival Reliance Jio, which increased its rates by 12-15%. The primary objective of these changes is to improve the average revenue per user (ARPU).
Jio acquires additional spectrum in 1800 MHz band for Rs 973 cr in two circles
Reliance Industries has secured additional spectrum in the 1800 MHz band for Bihar and West Bengal in a recent spectrum auction. The acquisition aims to meet geography-specific demand and ensure a high-quality customer experience. The total cost of the spectrum is Rs 973.63 crore. The acquisition expands Jio's spectrum footprint to 26,801 MHz and enables the company to deploy the largest amount of spectrum across India on bandwidth-efficient technologies like 4G and 5G.
Telcos bid for 5G worth ₹11,000 crore on first day of India's second spectrum sale
All three private carriers — Reliance Jio, Bharti Airtel and Vodafone Idea – are believed to have bid for sub-GHz (900 MHz) and select mid-band airwaves (1800 MHz, 2100 MHz) as they look to bolster their respective 5G spectrum holdings. High-band 5G airwaves in the 26 GHz band appear to have been given a miss on the opening day of the airwaves sale. In this year’s auction, the government has put 10.5 GHz of 5G spectrum in eight bands — 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3.3 GHz and 26 GHz — worth around Rs 96,238.45 crore at reserve prices on sale.
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Auction of 5G spectrum worth over Rs 96,000 cr starts
India's second 5G spectrum auction began on June 25, 2024, with bids from Reliance Jio, Bharti Airtel, and Vodafone Idea. The auction, offering spectrum worth Rs 96,238 crore, excludes pricey sub-GHz bands. Analysts anticipate a low-key affair with modest government revenue, as telcos plan limited purchases.
Reliance shareholders approve retail unit's $4 billion lease to Jio Financial
JFS plans to acquire equipment worth 360 billion rupees from Reliance Retail, as the financial services provider plans to enter the device leasing business. Through the deal, JFS' unit - Jio Leasing Services - will buy customer premises equipment, devices and telecom equipment such as routers and cell phones.
Sensex, Nifty hit brakes on record run; Nifty IT defies market mood
Indian equity indices, influenced by global trends, closed lower on Friday. The Sensex fell 269 points to 77,209, and the Nifty dropped 66 points to 23,501, impacted by Reliance Industries, L&T, and HDFC Bank.
Telco revenues surged to Rs 2.3 lakh crore in FY24: CLSA
The Indian telecom industry's gross revenue surged 87% to Rs 2.39 lakh crore in FY24, driven by the launch of services by Reliance Jio. Jio and Bharti Airtel gained subscribers at the expense of Vodafone Idea. The two top telcos now control 78% of sectoral revenue, expected to rise to 83% by FY26. Vi's revenue market share fell to 15.7%, while Airtel and Jio saw revenue growth, with Jio leading at 41.4% RMS.
Telecom sector revenue surges 87% to Rs 2.4 lk cr in FY24: Report
Telecom sector revenue in FY24 reached Rs 2,39,900 crore ($29 billion), an 87% increase from its FY19 low following Reliance Jio's market entry and about 40% higher than FY16 figures, according to a CLSA report. This surge reflects the continuing subscriber gains by Jio and Airtel at Vodafone Idea's expense, with Jio and Airtel now controlling 78% of the sector's revenue combined, a figure CLSA expects to rise to 83% by FY26.
Reliance Jio down: Users report issues with JioFiber & mobile internet
Reliance Jio is currently experiencing a widespread service outage across India, impacting access to communication applications and affecting remote employees. According to Downdetector, there is a notable issue with both fiber and mobile internet connectivity. Complaints surged to about 2,300 reports around 1:41 pm, subsided briefly by 2:11 pm, but then increased again with over 1,900 complaints.
India can achieve a growth rate of 8-9% by 2031: KV Kamath
Today, capital growth happens through cash accruals, through equity raising as required, and access to capital markets, so that part is probably going to be so in the future also, except for infrastructure. So, where will financial services then, as we understand, go? Basically, it will need to drive the aspirations of the people. The retail at large and this is so everywhere in the world.
Under govt pressure, telcos begin trials of caller ID display service to curb spam calls
Telecom operators have started trials for caller ID services in Mumbai and Haryana following pressure from the government and TRAI. The CNAP service aims to display the caller's name during incoming calls to curb spam and fraud calls.
191 smallcaps shine with double-digit gains in a positive market week
During the week, as many as 191 smallcap stocks delivered double digit returns with 13 of them gaining 25% or more. PTC Industries was leading the smallcap pack at 35%, followed by Avantel at 33% and Honda India Power at 30.47%.
Jio Satellite Communications seeks trial spectrum after IN-Space clearance
The Department of Telecom has already granted satellite communication service licence GMPCS and internet service provider licence to Jio Satellite Communications.
Over 10 MF schemes slashed holdings in 7 stocks in May'24. Do you own any?
ETMarkets' analysis shows that more than 10 mutual fund schemes have reduced their investments in seven stocks in May 2024 compared to April 2024. Among these stocks, three experienced a share price increase of 40-50% in 2024 so far, one stock fell by around 22%, and the remaining two had flat performance. (Data Source: ACE MF). Check the list to see if you hold any of these stocks:
Banks say growing reliance on Big Tech for AI carries new risks
European banking executives express concerns about banks' increasing dependence on big U.S. tech firms due to the boom in artificial intelligence, driven by the popularity of AI applications like OpenAI's ChatGPT for fraud detection and money-laundering.
Airtel, Jio free cash flow seen rising amid falling capex spends, growing ARPU
Analysts predict Bharti Airtel's and Reliance Jio's free cash flows to rise in FY26, reaching approximately Rs 56,000 crore and Rs 38,500 crore, respectively. This growth stems from reduced capital expenditures and higher average revenue per user (ARPU). Both telcos expect a surge in ARPU driven by tariff hikes and increased data usage amid 5G deployments
Reliance Jio, Bharti Airtel's returns on investment set to double in 4 years
Macquarie Research estimates Airtel's ROCE (return on capital employed) to surge to 10-19% during FY25-28 from 2-6% in the last more than a decade, aided by tariff hikes, better subscriber mix and capex moderation. Airtel had invested $32 billion in FY24, generating a return of 8%. Over the next four years, while investments will drop to $28 billion per year, returns will likely more than double to 19%, Macquarie data showed.
Mukesh Ambani's fintech juggernaut starts rolling: The road ahead
Ambani's latest fintech business under Jio Financial Servics Ltd (JFSL) aims to ride on extensive consumer network as well the data Reliance has acquired. The tracks that consumers leave while shopping and using Reliance products and services will form a strong databank for JFSL.
Jio Financial Services launches app to take on its fintech rivals
Jio Finance will offer UPI payments, bill payments, insurance advisory and digital banking. Eventually Jio Financial Services will offer credit products like loans against mutual funds, home loans and others to its customers through the app.
Reliance launches beta version of JioFinance app to offer UPI, digital banking, loans on mutual funds
Jio Financial Services introduced the beta version of the Jio Finance app, offering UPI, digital banking, and mutual fund loans. Key features include instant digital account opening and streamlined bank management. The app integrates various financial services like digital banking, UPI transactions, and insurance advisory. Future plans include expanding loan solutions, starting with mutual fund loans.
Jio Financial plans Rs 36,000 cr deal with Reliance Retail
Jio Financial Services seeks shareholder approval for its unit to purchase telecom equipment worth Rs 36,000 crore from Reliance Retail. The move signals JFS's entry into the device leasing business. The deal involves Jio Leasing Services buying routers and cell phones for rental to Reliance Jio Infocomm customers. Voting concludes on June 22, with the deal anticipated to finalize in the financial years 2025 and 2026.
Jio Financial seeks shareholders approval for up to 49% foreign equity investments
Among the public shareholders, foreign investors own about 19% stake in the company and mutual funds are holding 4.74%, according to the latest shareholding data available with the exchanges.
Less enthusiasm on the spectrum front
Airtel has to top up on spectrum that is lapsing in select telecom circles. Jio can afford to take it easy after having cornered the biggest chunk of airwaves put up for sale in the previous round of auctions in 2022. In the event, Jio still remains the most hungry for spectrum, signalling its interest to buy three times as much as Airtel, and 10 times as much as Vi.
Unconventional market signals: Unveiling special opportunities in investing for superior returns
By embracing a more nuanced approach to investing and staying vigilant for special situations, retail investors can position themselves to capitalize on opportunities that often get overlooked. By understanding and capitalizing on special opportunities such as demergers or spinoffs, holding company discounts, and promoter buying, investors can generate superior returns as these strategies have a positive historical track record.
Asset management JV with BlackRock progressing well, says Jio Financial Services
On October 19, 2023, Jio Financial and BlackRock Financial Management Inc. filed papers with markets regulator Sebi for launching a mutual fund business. As of March 2024, the application was under process for Sebi's in-principle approval.
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