Jio revises plans, Rs 149 recharge will now offer 1GB per day

Reliance Jio updated its price chart for the third time in two weeks by slashing recharge rates by Rs 50 across the board and increasing the data limit available to users.

Jio has been consistently changing its price-points with a view to gain market share while slowly inching towards higher average revenue per user (ARPU). The new offer brings down the price of the cheapest data recharge to Rs 149 again.

A new category of data packs have been introduced to give users 1.5 GB data per day, effectively increasing data limits by 50 per cent, thus increasing the data limit of the Rs 198 starter pack up from 28 GB to 42 GB.

"The flagship Rs 399 plan will now provide 20 per cent additional data with enhanced validity of two additional weeks, increasing the current validity from 70 to 84 days," said the company in a statement.

The company is expected to announce more plans in the coming months.
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Reliance Commercial Finance appoints Devang Mody as CEO

Latest News - Reliance Commercial Finance, a subsidiary of Reliance Capital, on Tuesday announced the appointment of Devang Mody as chief executive officer.

Prior to this, Mody served as president of consumer business at Bajaj Finance.

The consumer finance business of Bajaj Finance, under his leadership, witnessed a sharp growth to its current size spanning over 300 towns, with market leadership positions across various business lines.

Mody, aged 44, has over 20 years of experience in the financial sector. He started his career with Mahajan & Aibara, and then moved on to EY, followed by a stint at GE Money Financial Services where he was VP - Strategic Initiatives, before moving to Bajaj Finance.

"I am delighted to welcome Devang Mody as the new CEO of our commercial finance business, a high priority growth area for (Read More)

Telecom industry lost 20% revenue due to Reliance Jio giveaways: Ind-Ra

Latest News - The telecom industry has lost about 20 per cent of revenue due to Reliance Jio's free services, India Ratings and Research has said, revising the sectoral outlook for 2017-18 to negative.

India Ratings and Research (Ind-Ra), a Fitch group company, said the revision of outlook on the sector to negative for 2017-18 from stable-to-negative for 2016-17 is due to "increasing competition".

"The negative outlook reflects Ind-Ra's expectation of longer and deeper than expected deterioration in the credit profile of telcos following the extended free services by Reliance Jio Infocomm," its latest report on corporate outlook said.

The report further said the industry has lost about 20 per cent revenues due to the free services by RJio.

"The existing telcos would lose market share to RJio and suffer profitability while the (Read More)

Airtel network logs highest download speed in Jan: Trai

Latest News - Average download speed on Bharti Airtel's mobile network was highest in January at 8.42 megabit per second (mbps), according to latest data published by telecom regulator Trai.

The monthly average mobile data speed published by the Telecom Regulatory Authority of India showed that the download speed on Airtel network has almost doubled in January to 8.42 mbps from 4.68 mbps.

On the other hand, average download speed on country's largest broadband service provider (Read More)

Jio stands for affordability in a world where data is new oil: Mukesh

Latest News - Reliance Industries Ltd chairman and managing director Mukesh Ambani on Wednesday said the company's newly launched telecom venture Reliance Jio stands for affordability and data is the new oil in the industry.

"Jio stands for affordability. Jio is conceived at a time when the world was in the phase of digitising. Data is the new oil," Ambani said.

He was speaking at an interactive session in Nasscom India Leadership Forum 2017 here.

Reliance Jio has disrupted the (Read More)

Idea Cellular slips into red with Q3 net loss of Rs 384 cr

Latest News - Telecom operator Idea Cellular today logged a consolidated net loss of Rs 383.87 crore for the December 2016 quarter compared to a net profit of Rs 659.35 crore in the year-ago period, hurt by newcomer Reliance Jio's free voice and data promotions.

Total income also has decreased to Rs 8,706.36 crore for the quarter, from Rs 9,032.43 crore in the same period in the previous year, as per a BSE filing.

"The Indian mobile industry witnessed an unprecedented disruption in the quarter of October to December 2016, primarily due to free voice and mobile data promotions by the new entrant in the sector," Idea Cellular said in a statement.

Consequently, revenue KPIs (key performance indicators) and financial parameters for (Read More)

Jio effect: Reliance Communications registers Q3 net loss at Rs 531 cr

Latest News - Anil Ambani-led Reliance Communications Saturday reported consolidated net loss of Rs 531 crore for October-December 2016, mainly due to free 4G services being offered by his elder brother Mukesh Ambani's Reliance Jio.

The company had posted net profit of Rs 303 crore in the same period a year ago.

"The company suffered a net loss of Rs 531 crore during the quarter primarily on account of... Unprecedented competitive intensity. This was the first full quarter after the company's complete shutdown of its profitable CDMA operations," RCom said in a statement.

Reliance Jio launched its (Read More)

L&T, Reliance, M&M bet on higher defence budget

Latest News - Plans of companies like Larsen & Toubro, Mahindra & Mahindra and Reliance Infrastructure are riding on the government's budgetary allocation for defence. These players expect orders for the manufacture of single-and double-engine fighter jets, naval helicopters and submarines, and export of defence systems to pick up in the next financial year.

Excluding pensions, Rs 2,58,589 crore was allocated for defence in 2016-17, up from Rs 2,46,727 crore in 2015-16 and Rs 2,22,370 crore in 2014-15. India’s defence budget is 1.71% of its gross domestic product (GDP) and a parliamentary standing committee has recommended raising this to 3% of GDP.

Mahindra group president and chief executive officer, aerospace and defence, S P Shukla said he (Read More)