Latest news with #MukeshAmbani-led
Mint
8 hours ago
- Business
- Mint
Reliance turns from Nifty's biggest drag to its top driver
Oil-to-telecom conglomerate Reliance Industries Ltd (RIL), which was the top drag on the Nifty 50 during its steep fall from late September to early April, has become the top mover of the bellwether index's rebound. The stock could continue its uptrend on the anticipation of growth in retail and telecom operating profits amid limited downside in the oil-to-chemicals business, according to foreign brokerages. RIL's derivatives support this optimism. The Mukesh Ambani-led group contributed 457 points or 10% to the Nifty's 4,534-point (17.25%) correction from a record high of 26,277.35 on 27 September last year to a 13-month low of 21,743.65 on 7 April. Since then, it has contributed 10% or 395 points to the 3.911-point (18% ) recovery till Friday's high of 25,654.2, according to wealth advisory firm Equentis. RIL's stock corrected 16% from ₹1,526 apiece on 27 September to ₹1,275 by end-March. The domestic institutional investors (DIIs) used this decline to hike their stakes in the counter to 19.4% as of March from 17.6% at September-end, said Equentis. Since then, the company's shares have recovered 19% to ₹1,519 on Wednesday. Jefferies, which as of 5 June had a buy rating on the stock and a one-year price target of ₹1,650, projects the revenue and Ebitda (earnings before interest, tax, depreciation and amortisation) of the telecom business under the Jio brand to grow at a compounded 18% and 21% rate over FY25-27. Moreover, analysts at JP Morgan expect a limited downside to the firm's crude refining and petrochemical business. 'The unanticipated weakness in refining/petchem margins drove sharp earnings cuts in FY25, hurting stock performance, we think," JPMorgan analysts wrote in their note dated 6 June. With a limited downside to one of Reliance's oldest and most crucial businesses, the expected growth in telecom and retail Ebitda should translate better to the consolidated bottom line this fiscal, the analysts summarized. The brokerage increased its fiscal year 2025-26 price target to ₹1,568 last month from ₹1,530. Nuvama Institutional Equities, in a 30 June note, ascribed the Street's highest one-year price target of ₹1,801 to the stock, driven by RIL commencing sales of heterojunction technology solar cell modules from April. These modules squeeze more electricity from sunlight. RIL's generic stock futures support the brokers' uptrend thesis. The May and June expiries of the contract—derivatives contracts expire on the last Thursday of a month—indicate that bears consistently cut their negative bets on the counter as the price rose, a clear sign of short covering, according to Bloomberg data. From a peak of 264,000 contracts in the April expiry, traders' open positions fell to a peak of 223,000 contracts in May and 204,000 in June expiries. The current open position has further declined to 143,000 contracts as of Wednesday (July expiry), per Bloomberg. Over this period, the price of the contract rose 30% from a low of ₹1,168 to ₹1,522 on Wednesday. The other heavyweights to aid the Nifty recovery from 7 April low to 27 June high include HDFC Bank with a 7.6% contribution to the rally, Tata Steel (6.1%), Bharti Airtel (6%) and ICICI Bank (5.1%), per Equentis.
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Business Standard
3 days ago
- Business
- Business Standard
5 technical reasons why Jio Financial Services stock can rally another 22%
Jio Financial Services has surged over 67% in the last four months; here are 5 reasons why the stock looks strong on technical charts. Listen to This Article Shares of Jio Financial Services, the non-banking finance arm of Mukesh Ambani-led Reliance Industries, have witnessed a phenomenal run on the stock exchanges in the last four months. Jio Financial Services share price from a low of ₹198.65 registered March 3, 2025, has surged to a high of ₹331.90 today, June 30, 2025 on the NSE - up over 67 per cent. Today, the stock has gained nearly 2 per cent, and is seen trading at a 6-month high. In comparison, the BSE Sensex and the NSE Nifty were down 0.2 per cent each.
Time of India
3 days ago
- Business
- Time of India
‘Reliance Jio may become dominant FWA provider by June-end, ahead of T-Mobile'
NEW DELHI: Reliance Jio is expected to become a dominant fixed wireless access (FWA) service provider by subscribers globally by the end of June, ahead of rival Bharti Airtel and US telecom carrier T-Mobile , according to ICICI Securities. The Mukesh Ambani-led telco gained 1.03 million 5G FWA customers in June, taking its total base to 5.85 million. By comparison, Airtel gained 182,458 customers, taking its user base to 1.54 million, according to the industry data collated by the Telecom Regulatory Authority of India (TRAI) for May. The sector regulator has reclassified users of FWA-UBR (Fixed Wireless Access Unlicensed Band Radio) as fixed wireline customers. 'Industry FWA (excluding UBR) stood at 7.4 million with RJio's FWA subs at 5.9 million, and adjusted for UBR reclassification, net add was an impressive 0.74 million in May 2025. RJio's FWA (including UBR) stood at 6.88 million. This, compared to T-Mobile (US player, and had largest FWA subs base globally), FWA subs base was at 6.85 million in March 2025 (quarter),' the brokerage said in a research note on Sunday, which ETTelecom has reviewed. 'We believe RJio is path to become dominant player by subs for FWA globally by end-June 2025. Bharti's FWA subs rose 0.18 million to 1.5 million in May 2025; and Bharti is also scaling its FWA services to monetise the rising demand for fixed broadband in India,' it added. Jio and Airtel have seen a rapid uptake of their respective 5G fixed broadband services since the commercial launch in 2023. 5G FWA is also seen as a significant revenue-generation opportunity for the telcos, given the low penetration of wired broadband in India and a rise in data consumption. ICICI estimated that the wired broadband (including FWA) subsribers base rose at an average of 1.8 million per month over December 2024 to May 2025 to 51.5 million, representing a 24.6% year-on-year growth. 'Bharti's subs increase 0.29mn/month to 10.8mn. RJio added 0.66mn subs/month, now at 19.4mn. Other operators' subs base has been largely stable,' it said. According to ICICI, Jio's wired broadband (including FWA) market share rose to 37.6% in May 2025, compared to 34% in November 2024. During the same period, Airtel's share rose from about 20% to 21%, while state-controlled Bharat Sanchar Nigam Limited's (BSNL) user base remained the same at 4.3 million but its market share fell from 10.3% in November 2024 to 8.4% in May 2025. Swedish telecom gear maker Ericsson , in its recently released report, said that a strong need for accessible broadband in rural and semi-urban areas is driving Indian operators to expand their 5G FWA footprints. 'Availability of affordable 5G FWA customer premises equipment (CPE) is also driving growth of 5G FWA, which will help bridge the digital divide,' it has said. Jio widens gap with rivals in active user base In May, Jio's active subscribers expanded by 5.5 million to 462 million, whereas Airtel's active subscribers base increased 1.3 million to 387 million, while Vodafone Idea's active subscribers declined by 1.3 million to 173 million as its network expansion is yet to show a visible impact, as per ICICI. Jio's active user market share rose 16bps (basis points) month-on-month to 42.8%, while Airtel's declined 13bps to 35.8% and Vi's fell 23bps to 16%, it said. 1bps is 0.01%. Industry-wide active subscriber base was up by 7.4 million to 1.08 billion, following a 0.7% month-on-month growth in May.
India.com
5 days ago
- Business
- India.com
Bad news for Mukesh Ambani as Campa Cola faces huge backlash for hurting...
(File) In a major setback to billionaire Mukesh Ambani-led Reliance Industries' plans of making Campa Cola the market leader in India's gigantic soft-drink market, and toppling global FMCG giants like Coca-Cola and Pepsi, the iconic Indian soft-drink brand has triggered a firestorm for allegedly using religious imagery related to Lord Jagannath in one of its advertisements. Campa Cola slammed for hurting religious sentiments Mukesh Ambani-owned Campa Cola, has been accused of hurting religious sentiments by using imagery related to Lord Jagannath's annual Rath Yatra to promote the product. The hashtag #BoycottCampa is trending on X (former Twitter) in India as users slammed Mukesh Ambani-led Reliance for 'marketing gimmick' that disrespects and exploits religious beliefs to promote their product. 'No brand should exploit religious sentiments for commercial gain. Campa Cola needs to apologise and respect the sanctity of Lord Jagannath's temple,' wrote one user. 'You can't rebrand a mistake into a movement. Campa Cola was forgotten for a reason,' another chimed in, while a third criticised the brand's priorities, stating 'commercial greed should never override spiritual reverence'. 'Apologise now, Campa Cola,' the user demanded. A majority of X users echoed similar views about the controversial Campa Cola advertisement, noting that Reliance has 'crossed a line' because religious symbols are not 'props' for brand promotion. Users criticise Reliance over monopoly, manipulation Meanwhile, the controversy spilled beyond the religious aspect as many users expressed concerns over corporate dominance and monopolies. 'Support local. Reject exploitation. Campa Cola's revival isn't about taste — it's about control,' one user alleged. Another stated that the brand once symbolized nostalgia, but now it has become 'just another tool for monopolies'. 'We deserve better choices, not corporate manipulation.' he added. 'From being the people's drink to becoming a corporate pawn? Disappointed but not fooled. Let's raise our voice, not the glass,' another user commented. Campa Cola revival Campa Cola is currently owned by Reliance Consumer Products Limited (RCPL), the FMCG arm of Mukesh Ambani-led Reliance Industries Limited, which acquired the brand from Pure Drinks Group in August 2022 for Rs 22 crore as part of its strategy to strengthen its presence in the consumer goods market. Reliance formally relaunched Campa Cola on March 9, 2023, with three flavours — cola, orange, and lemon — now available in select stores across India.
India.com
25-06-2025
- Business
- India.com
The Union government sees two only methods to help save Vodafone-Idea (Vi) from insolvency.
(File) In a major relief for Vodafone Idea (Vi)– India's third-largest telecom services provider– the Central government is mulling to provide further relief to the telco on its regulatory outstanding dues of Rs 84000 crore. The government is concerned that the telecom provider will likely go bankrupt if executive support is not provided, and such a scenario would result in a duopoly in the Indian telecom sector, leaving Mukesh Ambani-led Jio and Sunil Mittal's Bharti Airtel as the only two private players in the market. Centre mulls options to save Vi from insolvency As per a report by The Economic Times, the Union Telecom Ministry sees two methods to help save Vodafone-Idea from insolvency. These involve extending the repayment period for adjusted gross revenue (AGR) dues from the current six years to 20 years, and also shifting from compound to simple interest on the outstanding amount. As per the report, the ministry is mulling another proposal under which Vi will be required to pay a designated annual amount of about Rs 1000 crore to Rs 1500 crore towards the dues, until a final resolution is reached on the company's AGR liabilities. Can't have a duopoly says Scindia Meanwhile, Union Telecom Minister Jyotiraditya Scindia has stressed the need for competition in the telecom market, saying that the sector requires cannot grow if there are only one or two major players left. 'It's not good enough having a duopoly or one carrier or two carriers. India must have competition in every sector. India today is probably the only country in the world for competition in ISP domain,' the minister said at an event in Delhi, according to a Moneycontrol report. Why govt came forward to save Vi? The Central government owns a 49 percent equity stake in Vodafone Idea, which is the primary reason it wants to ensure that the telecom major stays afloat, because its downfall would mean a financial loss for the state, the report said. According to reports, last month, Vi had told the government that it might not be able to operate beyond FY26 without support, adding that the company may be forced to file for insolvency with the National Company Law Tribunal (NCLT), citing surging operating costs and lack of support from banks. Notably, despite a Rs 26,000 crore equity infusion and Rs 36,950 crore equity conversion from the Centre, Vi has claimed that it did not receive any support from the banks, and made a plea to the government for a bailout deal, after the Supreme Court refused to waive off its AGR dues. The company faces significant payment obligations after its four-year payment moratorium ends in September 2025, and will have to pay Rs 12000 crore between September 2025-March 2026. Further, Vi is mandated to pay 43,000 crore annually for five years, from FY27 to FY31, to clear its outstanding dues.
