Paytm Founder Sells 1% In One97 Communications For Rs 325 Crore

Paytm founder Vijay Shekhar Sharma has sold 1 percent of his shares in One97 Communications Ltd. to its shareholders for about Rs 325 crore. The amount raised will be utilised for Paytm’s proposed payments bank operations, in which Sharma holds 51 percent stake. Confirming the development, a Paytm spokesperson said: “It is done for Paytm…

6 tech trends for 2015 that will change our future

  Technology and innovation can be frustrating to watch in action. That’s because there usually isn’t much action — just incremental change with occasional flashes of brilliance. But the only way to truly understand what’s happening and why is to keep watching. Breakthroughs from years ago are finally leading to real products and services today….

Sleepless nights for telcos as Reliance Jio prepares for 2G war

The veil of secrecy is slowly being lifted over Reliance Jio. No sooner was it made public that Reliance Industries’ telecom venture has shown interest in bidding for the upcoming spectrum auction, the analyst community seem to have woken up from their slumber. Some have downgraded other companies in the sector while some others say…

Idea Q1 net profit nearly doubles, beats estimates

Mobile phone carrier Idea Cellular Ltd’s quarterly profit nearly doubled, beating estimates, riding on strong customer additions and greater pricing power after the exit of several smaller competitors from the market. Idea, part of the financials-to-minerals Aditya Birla conglomerate, said consolidated net profit rose to 4.63 billion rupees for its fiscal first quarter to end-June, from…

RIL, RComm strike 120 billion rupee tower pact

Reliance Industries Ltd’s telecommunications unit will lease up to 45,000 mobile masts from Reliance Communications Ltd in a deal valued at more than 120 billion rupees over the lifetime of the contract, the Indian companies said on Friday. Reliance Jio Infocomm, a unit of Reliance Industries, is rolling out a nationwide 4G network. The company…

RComm falls after Bharti Airtel signs pact with Reliance Jio

   Shares in Reliance Communications Ltd fell as much as 5 percent after Reliance Industries Ltd’s  telecom unit, Reliance Jio Infocomm, and Bharti Airtel Ltd  entered into an agreement for international data connectivity. “Tie-up with Bharti means Reliance is open to players other than Reliance Comm as well, which decreases the probability of further deals…

Curious case of Indian telecom: From superstar to basket-case

Earlier this week, Ofcom, the British communications regulator, announced the beginning of a consultative process to free up spectrum for the launch of “5G” telecom networks in the UK. Interestingly, the UK just completed its spectrum auctions for 4G services in February this year. Though the “5G” nomenclature is still not official, we’re talking about…

Samsung unveils Galaxy Mega 6.3 and Mega 5.8 with big size screens

Expanding its android phone line up, Samsung announced the launch of its latest big sized smartphone, the Galaxy Mega. The South Korean company has unveiled two phones in this range – Galaxy Mega 6.3 and Galaxy Mega 5.8. Both the smartphones run on Android 4.2 (Jelly Bean) and have an 8-megapixel camera. The 6.3-inch phone…