News Podcast: Reliance Jio adds over 9.71 million subscribers in June : Bulletin: Business Today
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News Podcast: Reliance Jio adds over 9.71 million subscribers in June

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August 21, 2018

Reliance Jio adds over 9.71 million subscribers in June

The mobile subscriber base in the country increased to 114.65 crore with net addition of 1.55 crore in the reported month. Reliance Jio led the growth in mobile segment by adding over 97 lakh new connections during the month. It was followed by Idea Cellular which added over 63 lakh new connections. Vodafone saw an addition of over 2.75 lakh new mobile connections, BSNL 2.44 lakh and Airtel 10,689. Tata Teleservices, which is in process of merging mobile services business with Airtel, lost over 1 million mobile service customers. Reliance Communications lost 1.08 lakh mobile customers and state-run MTNL 9,615.

Sensex and Nifty scale fresh highs

The Sensex and Nifty scaled fresh peaks in early trade today on gains in big cap stocks such as Bajaj Auto, ITC, Asian Paints and Adani Ports. While the Sensex hit an all time high of 38,402 rising 124 points from yesterday's close, the Nifty  rose 30 points to new peak of 11,581 after climbing 30 points from its previous close. The BSE midcap and small cap indices were trading 0.40% and 0.26% higher, respectively. Auto stocks led the gains with BSE auto index rising 184 points at 24,804 level. Bajaj Auto (1.06%), Hero MotoCorp (0.95%) and Tata Motors (0.70%) were the top Sensex gainers. Bharti Airtel was the top Sensex loser post dismal subscriber data for the Month of June. The firm added a paltry 10,689 customers in June, the least compared to its peers. The stock was down 0.94% at 366.90 level.

Nirav Modi is in the UK, CBI moves extradition request

The Interpol has confirmed that jeweller Nirav Modi, accused in the Rs 13,578 crore Punjab National Bank scam, is in the United Kingdom, following which CBI has despatched an extradition request to the UK seeking his return to India. In a mail, the UK authorities confirmed his presence after the CBI sent a diffusion notice to the Interpol regarding the celebrity jeweller. There are chances that the UK might accept India's extradition request as the UK's Crown Prosecution Service (CPS) had informed India in June that it could initiate extradition proceedings against Nirav Modi. Nirav Modi and his uncle and partner Mehul Choksi are being investigated by the ED and the CBI after it was detected that they allegedly cheated the Punjab National Bank of over Rs 13,700 crore with the purported involvement of a few of its employees.

Coca-Cola India restructures leadership team in India

Beverage company Coca Cola has announced the restructuring of its leadership team in India. The new structure has been announced keeping in mind the company's India and South West Asia business. Chandrasekar Radhakrishnan has been roped in as vice-president, strategy and insights, for the company's India operations, and Sundeep Bajoria as vice president for its south west Asia operations. The development comes at a time when the local unit of the American beverages company has been trying to make fresh attempts to crack the Indian dairy market with a new set of products .

Govt, judiciary responsible for NPA pile up, too: SBI MD

State Bank of India chairman Rajnish Kumar said apart from banks and borrowers, the government and judiciary too had a role to play in India's bad loan crisis. Speaking at a banking conference on Monday, Kumar said while many people ask him, who is responsible for the current pile of non-performing assets, it was not so simple to answer and pinpoint one person. He said delayed response by bankers has also contributed towards the aggravated NPA situation.

EPFO revises payroll figures down by 12% for Sep-May

Retirement fund body EPFO's payroll data suggests that as many as 47.13 lakh jobs were created during September 2017 to June this year. According to the payroll data released by the Employees' Provident Fund Organisation (EPFO) for September-May, as many as 44.74 lakh new member were enrolled for its social security schemes to provide benefits, including provident fund, insurance and pension. The retirement body though lowered earlier estimate of new members enrolment by 12.38%, from 44.74 lakh to 39.20 lakh member for September 2017-May 2018 period.
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