The Managing Director and CEO of Airtel, Gopal Vittal, announced the launch of their new AI-powered solution to address the issue of spam calls and messages in India. With the capability to identify 97% of spam calls and 99.5% of spam messages, this technology aims to alert customers in real time and protect them from potential fraud. Developed in-house by Airtel's data scientists, the solution is a dual-layer protection that processes 1.5 billion messages and 2.5 billion calls per day, making it the most effective tool in combating spam in the country.
The Supreme Court's decision to dismiss Vodafone Idea's petition for a reassessment of its AGR dues has dealt a major blow to the telecom industry, causing the company's stocks to nosedive by 15%. The court reaffirmed its stance on ensuring regulatory compliance and maintaining the financial health of the sector. This ruling comes after the court rejected the plea of other telcos seeking to list their curative petitions for open court hearing. With the demand for AGR dues being deemed final, the telecom companies' outstanding liabilities have been set in stone by the court.
Bharti Airtel and Vodafone Idea have filed curative petitions challenging a Supreme Court order mandating the payment of AGR dues over a 10-year period. The telecom companies argue that the dues, which amount to over ₹1 trillion, have been calculated incorrectly, leading to excessive financial demands. The outcome of the Supreme Court's review of these petitions will significantly impact the financial stability of these telecom operators, as AGR is a critical metric that determines their profitability.
Airtel, one of India's leading telecom companies, has joined hands with Apple to provide its subscribers with access to popular streaming services Apple TV+ and Apple Music. This partnership aims to enhance Airtel's entertainment offerings and give its customers access to a wide array of content from the tech giant. Through select mobile, Wi-Fi, and postpaid plans, Airtel users will now be able to enjoy Apple TV+ and Apple Music's extensive library, offline music downloads, lossless audio streaming, and more.
In a strategic move, Bharti Airtel has announced its plans to discontinue its music streaming app, Wynk Music, and instead focus on its partnership with Apple. The company will absorb all employees currently working on Wynk Music into its ecosystem. As part of the collaboration, Airtel users will have access to Apple Music, while Wynk Premium subscribers will receive exclusive promotions from the telecom giant. This decision aligns with Airtel's strategy to expand its digital offerings and cater to its 220 million active users.
Vodafone Idea has received positive feedback from Nuvama Institutional Equities, Dixon Technologies and ICICI Securities, indicating a potential path to survival for the struggling telecom company. While Bharti Airtel rolled out a tariff hike on Friday, Vodafone Idea is expected to witness inflows of over $278 million and Suzlon Energy saw a significant increase in share price. Market experts discuss the potential opportunities in the telecom sector on Business Today TV's daily market show, with Vodafone Idea likely to opt for a payment plan to ease financial burden.
Bharti Enterprises, led by Aditi Khanna, has invested in BT Group, acquiring a 24.5% stake in the UK-based telecommunications company. This move is seen as a "great vote of confidence" in the growth of 5G in India, as Bharti and BT Group have previously collaborated on 5G trials. Concerns over tariff hikes and delays in 4G and 5G adoption in India have been eased with this investment. Additionally, Nokia has achieved a record 1.2 Gbps 5G speed in a trial with Airtel, while BSNL has launched a 4G and 5G-ready SIM platform. UK businesses have also reacted positively to India's Union Budget, showing strong potential for future collaborations.
The Telecom Regulatory Authority of India (TRAI) is planning to implement stricter regulations to improve the quality of telecom services and reduce the number of spam calls. The new regulations will also target multiple SIM users and will result in financial losses for major telecom companies like Jio, Airtel, and VIL. The decision comes after TRAI denied charges of allowing multiple SIMs and highlighted their efforts to curb spam calls. Moreover, with the mobile number porting reaching 100 crore mark, the TRAI's crackdown on spam calls is expected to bring relief to mobile users across India.
The Indian stock market saw a promising week with a 2.36% climb and a historic high for the BSE Sensex. Reliance Industries, TCS, HDFC Bank, ICICI Bank, Bharti Airtel, SBI, Infosys, Hindustan Unilever, and ITC were among the top gainers. The sole laggard was LIC. The surge added a total of Rs 2,89,699.42 crore to the market cap of the top 10 companies, with Reliance Industries remaining the most valued company.
Bharti Airtel, one of India's leading mobile network operators, announced a significant 10-21% increase in mobile tariffs. This move, effective immediately, is expected to have a major impact on the stock market and investment tracking in the telecom sector. Bharti Airtel's decision comes as competitors such as Vodafone Idea and Reliance Jio have also hiked their tariffs in recent months. This latest development highlights the changing landscape of the Indian telecom industry and the ongoing battle for dominance in the highly competitive market.