<ul><li><keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Industries has filed a petition in the Punjab and Haryana High Court “to bring a complete stop to the illegal acts of vandalism by miscreants”.</li><li>One of the biggest fears around India’s ongoing farmers’ protest has been that big corporations owned by the likes of <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> and Gautam Adani would drive small farmers out of business. </li><li>So far, over 1,500 of the 9,000 towers of <keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> in the two states have been damaged.</li></ul>One of the biggest fears around India’s ongoing farmers’ protest has been that big corporations owned by the likes of Mukesh Ambani and Gautam Adani would drive small farmers out of business. This had made the two billionaires land on protestors’ placards and led angry mobs of farmers to vandalise some of their properties like Jio’s mobile phone towers. The escalating protests has now forced Mukesh Ambani’s Reliance Industries to break its silence. “Reliance Retail Limited (RRL), Reliance Jio Infocomm Limited (RJIL), or any other affiliate of our parent company, i.e. Reliance Industries Limited have not done any “corporate” or “contract” farming in the past, and have absolutely no plans to enter this business,” said the company’s statement, post which the shares of RIL recovered from the day’s low. Reliance Industries has also filed a petition in the Punjab and Haryana High Court and “has sought the urgent intervention of government authorities to bring a complete stop to the illegal acts of vandalism by miscreants.” According to reports, over 200 towers of Reliance Jio were being vandalized every day in the states of Punjab and Haryana. So far, over 1,500 of the 9,000 towers of Reliance Jio in the two states have been damaged. <div type="image" title="Jio" msid="80091804" hostid="261" caption="&amp;lt;p&amp;gt;Students Federation of India (SFI) activists protest against Reliance Jio in the wake of the ongoing farmers agitation over the three new farm laws, in Kolkata on Dec 12, 2020. &amp;lt;/p&amp;gt;"></div> Claiming that Reliance Retail, which is the country’s largest retail distributor, has no vested interests, the company’s statement said, “It (Reliance Retail) has never entered into long-term procurement contracts to gain unfair advantage over farmers or sought that its suppliers buy from farmers at less than remunerative prices, nor will it ever do so.” The anger of the farmers had been rising against the corporate giant Jio, which, the farmers believed, to <a href="https://www.nationalheraldindia.com/india/farmers-in-punjab-vent-anger-against-reliance-jio-over-1500-towers-damaged-so-far">be a beneficiary</a> of the country’s new farm laws. “Reliance seeks significant augmentation of their incomes on a sustainable basis, and pledges to work towards this goal. Indeed, we shall insist on our suppliers to strictly abide by the Minimum Support Price (MSP) mechanism, and/or any other mechanism for remunerative price for farm produce, as may be determined and implemented by the government,” said the company’s statement. SEE ALSO: <a href="https://www.businessinsider.in/international/news/questions-arise-about-jack-ma-whereabouts-as-alibaba-faces-scrutiny-from-the-chinese-government/articleshow/80090457.cms">Where is Jack Ma? Questions arise about the billionaire’s whereabouts as Alibaba faces scrutiny from the Chinese government</a>

Reliance says it has 'absolutely no plan' to enter contract farming — urges government to stop vandalism amidst ongoing farmers' protests

Chandigarh, Jan 5 () The Punjab and Haryana High Court on Tuesday issued notices to the Punjab government and the Centre on a plea filed by Reliance Jio Infocomm Ltd, seeking action against "miscreants" damaging its telecom infrastsructure and forcibly closing its stores in the state. During the ongoing agitation by farmers against three new farm laws enacted by the Centre, over 1500 mobile towers in Punjab have ben damaged. Reliance Jio, a subsidiary of Reliance Industries Ltd, on Monday, submitted in its plea that "vested" interests are engaged in spreading "false rumours" against it and that the petitioner, its parent company and its affiliates had no plans to enter corporate or contract farming. Justice Sudhir Mittal has issued notice of motion for February 8, according to Aashish Mittal, the counsel for Reliance Jio. The company has made the state of Punjab through its chief secretary, Union Ministry of Home Affairs, Department of Telecommunications and the Punjab Director General of Police as respondents in the matter. In the civil writ petition, Reliance Jio has also sought appropriate directions to respondents for investigation into the "well-orchestrated and sustained disinformation campaign" being carried out by vested interests and miscreants against it. In the petition, the company has stated that in the past few weeks, its over 1,500 telecom towers were damaged or rendered inoperative by miscreants crippling its mobile network in Punjab. A number of its centres and stores were also forcibly closed by miscreants by using "illegal force and intimidation," it submitted. The petitioner submitted that its subscribers were being forced to port to other networks, while its employees were being subjected to grave threat to life and forcibly prevented from serving subscribers in the state. According to the petition, vested interests inimical to the petitioner and its parent company Reliance Industries, are engaged in spreading false rumours to the effect that the petitioner and its affiliates were somehow a beneficiary of recent legislation passed by Parliament governing marketing of agricultural produce. In a statement, Reliance said it "has nothing whatsoever to do with the three farm laws currently debated in the country, and in no way benefits from them". The company also sought constitution of a competent authority under the Punjab Prevention of Damage to Public and Private Property Act for the assessment of losses caused to it. CHS VSD DV DV

Telecom tower damage: HC issues notice to Punjab, Centre on Reliance Jio plea

Chandigarh, The Punjab and <keyword id="101738" type="COMPANY" weightage="20" keywordseo="Haryana-High-Court">Haryana High Court</keyword> on Tuesday issued notices to the Punjab government and the Centre on a plea filed by <keyword id="6354504" type="PERSON" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword> Infocomm Ltd, seeking action against "miscreants" damaging its telecom infrastructure and forcibly closing its stores in the state. During the ongoing agitation by farmers against three new farm laws enacted by the Centre, over 1500 mobile towers in Punjab have been damaged. Reliance Jio, a subsidiary of <keyword id="6487" type="DOMAIN" weightage="20" keywordseo="Reliance-Industries-Ltd">Reliance Industries Ltd</keyword>, on Monday, submitted in its plea that "vested" interests are engaged in spreading "false rumours" against it and that the petitioner, its <keyword id="1464040" type="PERSON" weightage="20" keywordseo="parent-company">parent company</keyword> and its affiliates had no plans to enter corporate or contract farming. Justice Sudhir Mittal has issued notice of motion for February 8, according to Aashish Mittal, the counsel for Reliance Jio. The company has made the state of Punjab through its chief secretary, Union Ministry of Home Affairs, <keyword id="116246" type="COMPANY" weightage="20" keywordseo="Department-of-Telecommunications">Department of Telecommunications</keyword> and the Punjab Director General of Police as respondents in the matter. In the civil writ petition, Reliance Jio has also sought appropriate directions to respondents for investigation into the well-orchestrated and sustained disinformation campaign being carried out by <keyword id="2404104" type="PERSON" weightage="20" keywordseo="Vested-interests">vested interests</keyword> and miscreants against it. In the petition, the company has stated that in the past few weeks, its over 1,500 telecom towers were damaged or rendered inoperative by miscreants crippling its mobile network in Punjab. A number of its centres and stores were also forcibly closed by miscreants by using illegal force and intimidation, it submitted. The petitioner submitted that its subscribers were being forced to port to other networks, while its employees were being subjected to grave threat to life and forcibly prevented from serving subscribers in the state. According to the petition, vested interests inimical to the petitioner and its parent company <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>, are engaged in spreading false rumours to the effect that the petitioner and its affiliates were somehow a beneficiary of recent legislation passed by Parliament governing marketing of agricultural produce. In a statement, Reliance said it "has nothing whatsoever to do with the three farm laws currently debated in the country, and in no way benefits from them . The company also sought constitution of a competent authority under the Punjab Prevention of Damage to Public and Private Property Act for the assessment of losses caused to it.

Punjab and Haryana High Court issues notice to state and Centre on Reliance Jio's plea on telecom tower damage

<ul><li>It’s been over 30 days since farmers protesting India’s new farming laws have gathered at New Delhi’s borders.</li><li>Since the December 8 nationwide Bharat Bandh, farmers’ protests have also erupted in other parts of the country. </li><li>The farmers’ agitation is on the rise and they refuse to give into the government’s narrative. </li><li>Asking supporters to boycott Gautam Adani and Mukesh Ambani businesses, protestors have also reportedly been damaging telecom towers in agitation against Reliance Jio.</li></ul>It’s been over a month since farmers arrived at the border of India’s national capital, New Delhi, to protest the country’s three new contentious farm laws. What started out as peaceful protests centered around one city have now expanded to other cities with pockets of violence emerging in places. The critical sixth round of talks scheduled to take place on December 29 has now been <a href="https://www.businessinsider.in/india/news/government-calls-for-a-sixth-round-of-talks-with-protesting-farmers-organisations-on-december-30/articleshow/79993405.cms">postponed to December 30</a> at the government’s request. The delay comes even as the agitation among protesting farmers is on the rise, and they refuse to give into the government’s narrative. Even Prime Minister Narendra Modi’s attempts to assuage them thus far have failed. <div type="image" title="protests" msid="80006747" hostid="261" caption="&amp;lt;p&amp;gt;Protestors at Singhu border during farmers&amp;#39; protest against India&amp;#39;s new farm laws&amp;lt;/p&amp;gt;"></div> The farmers claim that the laws are biased to play into the hands of big corporates, who only care about the bottom line in the long run. The government, on the other hand, believes that the new laws will fetch the farmers better prices and more options to sell their produce. The lack of trust between the two sides seems to be widening. It has even captured the attention of international governments — some of whom have questioned India's government’s handling of the situation. <div type="image" title="protests1" msid="80006770" hostid="261" caption="&amp;lt;p&amp;gt;The Kisan Mall has been set up at Singhu border, which sells everything from thermals to desi geysers to toothpaste&amp;lt;/p&amp;gt;"></div> Farmers’ protests in India turn violent in agitation against Reliance Jio Farmers in India have called for a boycott of products by companies owned by billionaires Gautam Adani and Mukesh Ambani. Since last week, farmers have reportedly been damaging telecom towers in Punjab to protest the monopolistic practices of Reliance Jio, owned by Ambani. According to the protestors, India’s new arm laws play in favour of the giant corporates and will cause farmers more harm than good in the long run. <div type="image" title="protests3" msid="80006789" hostid="261" caption="&amp;lt;p&amp;gt;A woman holds a placard at Singhu border where the farmers protest against the Center&amp;#39;s farm laws, in New Delhi&amp;lt;/p&amp;gt;"></div> According to the government, over 1,500 telecom towers have been ‘impacted’ by farmers in Punjab. But, only 23 towers have sustained actual damage. Nonetheless, Punjab Chief Minister Amarinder Singh issued a warning, directing the police to take strict action against anyone seen participating in vandalism or the disruption of telecom services. <div type="image" title="protests7" msid="80006801" hostid="261" caption="&amp;lt;p&amp;gt;Farmers during the protest against Farm bills at Ghazipur in New Delhi &amp;lt;/p&amp;gt;"></div> It seems to have done little to dissuade some parties. In Punjab’s Moga, farmers were reportedly spotted damaging telecom towers on December 29, even after Singh’s warning. This is the same region where Adani had already set up silo for crops, well before the new laws came into being. Before the march to Delhi, one of the protests to get the government’s attention was outside the same warehouse. The farmers have one main demand — repeal the laws Some farmer’s unions have localised issues that they want addressed. However, the primary cause of impasse between the Indian government and the farmers is that the latter is firm on its main demand — repeal the three new laws. <div type="image" title="protests8" msid="80006811" hostid="261" caption="&amp;lt;p&amp;gt;Farmers during a protest against the Center&amp;#39;s farm laws at Singhu Border&amp;lt;/p&amp;gt;"></div> Their other demands include, but are not limited to: <ol><li>A written assurance that the Minimum Support Price (MSP) scheme will continue in the future</li><li>The central government should drop amendments to the Electricity Ordinance 2020</li><li>Reduce and amend the penalties for stubble burning</li><li>Release farmers arrested on charges of stubble burning in Punjab</li><li>No impact on land ownership of farmers</li></ol>Farmers protests spread beyond the national capital — and beyond India Small scale protests started in Punjab as early as August when the new farmer laws were made public. It was only two months later that the unions issued the call for the ‘Delhi Chalo’ (Let’s go to Delhi) march. After the first few rounds of talks between the government and union leaders, the centre issued a new proposal agreeing to all of the farmers’ demands but one — repealing the new farm laws entirely. <div type="image" title="protests2" msid="80006828" hostid="261" caption="&amp;lt;p&amp;gt;Farmers sitting against India&amp;#39;s new farm laws performing yoga on the Chilla border&amp;lt;span&amp;gt;&amp;lt;/span&amp;gt;&amp;lt;/p&amp;gt;"></div> The farmers shot down the government’s proposal and called for a <a href="https://www.businessinsider.in/india/news/indian-farmers-call-for-bharat-bandh-on-december-8-amid-protests/articleshow/79567981.cms">nationwide Bharat Bandh on December 8.</a> Thereafter — even though most widespread protests continue to be centred around Punjab, Haryana, and Western Uttar Pradesh — demonstrations were also reported in Uttar Pradesh, Karnataka, Tamil Nadu, Odisha, Kerala and other states. A <a href="https://www.businessinsider.in/india/news/farmers-protest-farmers-from-maharashtra-joined-protestors-at-delhi-border/articleshow/79966263.cms">group of farmers from 21 districts in Maharashtra</a> started on a ‘vehicle march’ from Nashik and have joined the protestors along Delhi’s borders. <div type="image" title="protests5" msid="80006849" hostid="261" caption="&amp;lt;p&amp;gt;New tents placed by farmers at Gazipur border during a protests in New Delhi&amp;lt;/p&amp;gt;"></div> Several Indian-American protests were also held outside Indian consulates in San Francisco, Chicago, Indianapolis, New York, Houston, Michigan, Atlanta and Washington D.C. Even in New Zealand, 1,500 protesters gathered around Auckland’s Aotea Square to raise their voice against the new laws. Labour party members in the UK have also expressed their support and raised concerns as to how the Indian government is handling the crisis. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/three-anil-ambani-companies-accused-of-fraud-ten-times-more-than-vijay-mallya/articleshow/80002892.cms">Three Anil Ambani companies have reportedly been accused of fraud by banks⁠ — the amount at stake is nearly ten times more than what Mallya owed</a> <a href="https://www.businessinsider.in/business/corporates/news/jack-ma-ant-group-asked-to-overhaul-its-business-model-by-china-central-bank/articleshow/79987683.cms">China's central bank wants Jack Ma's Ant Group to overhaul its business model</a> <a href="https://www.businessinsider.in/science/environment/news/top-10-most-expensive-natural-disasters-of-2020-in-the-world/slidelist/79986294.cms">Cyclone Amphan was the most expensive cyclone of 2020 and the fourth most expensive natural disaster overall</a>

From uprooting mobile towers to cries of #BoycottJio— the farmers’ protests in India are heating up and spreading far and wide

What if Vodafone Idea dies?

Chandigarh, Jan 4 () Reliance Jio Infocomm Limited on Monday moved the Punjab and Haryana High court, seeking action against those causing damage to its network infrastructure and forcible closure of its stores. The company has made the state of Punjab through its chief secretary, Union Home Affairs Ministry and Department of Telecommunications as respondents in the matter. In a civil writ petition, the company, which is a subsidiary of Reliance Industries, sought appropriate directions to respondents for investigation into the "well-orchestrated and sustained disinformation campaign" being carried out by vested interests and miscreants against it. The petition was filed through counsel Aashish Chopra for an urgent hearing is likely to be listed on Tuesday. In the petition, the company has stated that in the past few weeks, its over 1,500 telecom towers were damaged or rendered inoperative by miscreants crippling its mobile network in Punjab. A number of its centres and stores were also forcibly closed by miscreants by using "illegal force and intimidation". The petitioner stated that its subscribers were being forced to port to other networks while its employees were being subjected to grave threat to life and forcibly prevented from serving subscribers in the state. According to the petition, vested interests inimical to the petitioner and its parent company Reliance Industries, are engaged in spreading false rumours to the effect that the petitioner and its affiliates were somehow a beneficiary of recent legislation passed by Parliament governing marketing of agricultural produce. On account of sustained disinformation campaign run by vested interests, the petitioner's business and its assets have become a target of attack and destruction by miscreants, the petition said. As a consequence of illegal actions of vested interests and miscreants, the petitioner's infrastructure across Punjab has been severely damaged, causing losses to the tune of hundreds of crore. The company also sought constitution of a competent authority under the Punjab Prevention of Damage to Public and Private Property Act for the assessment of losses caused to it. It has stated that it had given a representation to the Punjab chief minister last month, seeking urgent intervention in the matter. In the petition, the company submitted that the petitioner, its parent company and its affiliates had no plans to enter corporate or contract farming. In a statement, Reliance said it "has nothing whatsoever to do with the three farm laws currently debated in the country, and in no way benefits from them". CHS VSD RDK RDK

Reliance Jio moves HC against damage to infra, forcible closure of stores

<ul><li>Indian benchmark indices made a mixed opening on Tuesday tracking global markets.</li><li>While the 30-stock <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> opened 18 points lower at 61,126, the 50-stock <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> opened 20 points up at 18,179.</li><li>Reliance Industries, Kaynes Technology, NDTV, Nykaa and others will be in focus on Tuesday.</li></ul>Indian benchmark indices Nifty50 opened on a positive note while Sensex opened a tad lower amid mixed cues from <keyword id="35189" type="General" weightage="20" keywordseo="asian-markets" source="Orion">Asian markets</keyword> and positive signals from <keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of how the <keyword id="46038" type="General" weightage="20" keywordseo="indian-markets" source="Orion">Indian markets</keyword> may perform. SGX Nifty was up 0.13% in early trade on Tuesday morning. While the 30-stock Sensex opened 18 points lower at 61,126, the 50-stock Nifty50 opened 20 points up at 18,179. On Monday, <a href="https://www.businessinsider.in/stock-market/news/nifty50-sensex-extend-losses-for-the-third-straight-session-easy-trip-planners-bank-of-maharashtra-top-gainers-cochin-shipyard-top-loser/articleshow/95664095.cms">Sensex ended 519 points lower</a> at 61,145 points while Nifty50 fell 148 points to 18,160. In the last five days, the indices have fallen nearly 1% tracking cues from global peers. Asian markets were mixed as investors remained concerned about the rising curbs in China due to Covid-19 cases shooting up. China’s Shanghai SE Composite Index was down 0.20%, Hong Kong’s Hang Seng was down 1.14% while Taiwan TSEC 50 Index was down 0.05%. “Indian markets could open flat to mildly higher, in line with mostly higher Asian markets today and despite lower US markets on Monday. U.S. stocks finished lower on Monday for the third time in the past four trading sessions, as a fresh round of COVID-19 shutdowns in China rattled investors,” said Deepak Jasani, head of retail research at HDFC Securities. Brent crude oil prices rose on Tuesday after Saudi Arabia denied talks of a hike in oil output, and said OPEC+ might actually consider a further cut in output if needed. Brent crude oil prices gained 0.37%, hovering around $87.77 per barrel. What happened in the US markets Meanwhile, in the US, the Dow Jones Industrial Average closed 0.13% lower while the S&amp;P 500 ended 0.39% down. Stocks to watch today Reliance Industries: The company’s telecom arm Reliance Jio has received NCLT approval to acquire Reliance Infratel, which is the holding company of Reliance Communications’ tower and fibre assets. Nykaa: As per reports, private equity player Lighthouse India will sell shares worth ₹320 crore in FSN E-Commerce Ventures, owner of Nykaa, through a block deal today. It is expected to sell shares at around ₹180 - 183.5 per share at 2% discount from Monday’s closing price. NDTV: Gautam Adani-led Adani Group’s open offer to acquire an additional 26% stake in the news broadcaster goes live on Tuesday. The offer opens today and will close on December 5 with a fixed price band of ₹294 per share. Kaynes Technology: The Mysore-based company will make its market debut on exchanges on Tuesday. The IPO was open for subscription from November 10-14. The issue received strong demand from investors as it was subscribed 34.16 times. India GDP growth estimates slashed Ratings agency Crisil <a href="https://www.businessinsider.in/finance/news/indias-gdp-growth-forecast-continues-to-see-cuts/articleshow/95664894.cms">lowered</a> India’s FY23 GDP growth estimates by 30 basis points to 7%. ICRA lowered the Q2 GDP estimates to 6.5%. “We have revised down our forecast for real gross domestic product growth to 7 percent for fiscal 2023 from 7.3 percent, primarily because of the slowdown in global growth that has started to impact our exports and industrial activity,” said Dharmakirti Joshi, chief economist, Crisil. Stocks under F&amp;O ban Punjab National Bank, Indiabulls Housing Finance, Escorts, Sun TV Network, and Gujarat Narmada Valley Fertilizers are amongst the stocks under the F&amp;O segment today. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.99609pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UltraTech Cement </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.36% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.99609pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.74% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.67% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.68% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.13% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nestle </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.58% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.11% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.42% </td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr. Reddy's Labs </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.94% </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.42% </td></tr></tbody><tbody></tbody></table> Source: NSE, Nifty50, as at 10 a.m., November 22, 2022 SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/buy-on-dips-say-analysts-as-indian-markets-bounce-back-smartly-in-october/articleshow/95454116.cms">Buy on dips, say analysts, as Indian markets bounce back smartly in October</a> <a href="https://www.businessinsider.in/stock-market/news/all-is-not-that-well-say-market-experts-even-as-stocks-chase-new-highs/articleshow/95599973.cms">‘All is not that well’, say market experts even as stocks chase new highs</a> <a href="https://www.businessinsider.in/stock-market/news/capital-intensive-cyclical-and-value-stocks-to-continue-their-outperformance/articleshow/95659482.cms">Capital-intensive, cyclical and value stocks to continue their outperformance</a>

Indian markets open mixed tracking global cues – Reliance Industries, Kaynes Technology, NDTV, Nykaa among stocks to watch out for

<ul><li><keyword id="1553175" type="General" weightage="80" keywordseo="vodafone-idea" source="Orion">Vodafone Idea</keyword> is in talks with its lenders for a loan recast.</li><li>The telco last month opted for the adjusted gross revenue (AGR) dues moratorium.</li><li><keyword id="6354955" type="General" weightage="20" keywordseo="kumar-mangalam-birla" source="Orion">Kumar Mangalam Birla</keyword> may infuse $150 million into Vodafone Idea.</li></ul>Vodafone Idea and <a href="https://www.businessinsider.in/business/telecom/news/airtel-opts-for-agr-dues-moratorium-becomes-the-second-telco-to-do-so/articleshow/87254202.cms">Airtel</a> last month opted for the adjusted gross revenue (AGR) dues moratorium that was announced by the government as part of the <a href="https://www.businessinsider.in/business/telecom/news/telecom-relief-package-airtel-vodafone-idea-get-four-year-moratorium-on-agr-dues/articleshow/86227218.cms">telecom relief package</a>. By opting for the moratorium, Vodafone Idea was able to free up its cash-flow by up to ₹60,000 crore for four years, putting it in a better position to recover from its woes. According to a <a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/vodafone-idea-in-talks-with-banks-for-loan-recast/articleshow/87616740.cms?from=mdr">report</a> by The Economic Times (ET), now Vodafone Idea is in talks with its lenders, including a consortium led by the State Bank of India (SBI), its biggest lender for a recast of loans. "After the government extended relief to the telco, lenders believe that uncertainty over its future is over for now," said an official aware of the discussions to ET. Vodafone Idea is reportedly looking for a stay on its interest payments, lower rates or a longer payment tenure. Banks have an exposure of ₹28,740 crore to Vodafone Idea, of which, SBI alone has an exposure of ₹11,000 crore. <cmsannotation type="cmsannotation" annotationid="What is a loan recast?" comment="subhead" text="What is a loan recast?">What is a loan recast?</cmsannotation> A loan recast is restructuring of a loan, offering concessions such as stay on interest, longer repayment tenure, lower interest or a combination of these. Banks’ exposure to Vodafone Idea: <table style="border-width: initial; border-style: none;" class="redcator-table-advance"><colgroup></colgroup><col /><col /><col /><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% of loan book </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IDFC First Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,240 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.90% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Yes Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹4,000 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.40% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,500 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.65% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Punjab National Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,000 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.44% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹11,000 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.43% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,700 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.23% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,300 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.21% </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,000 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.09% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source: Nomura Vodafone Idea has reportedly also informed its lenders that it has resumed talks with global investors to raise funds. The funds will be used by the telco for infrastructure improvement. As per <a href="https://www.livemint.com/companies/news/birla-may-infuse-at-least-150-mn-into-vodafone-idea-this-month-11635879044507.html">reports</a>, Aditya Birla Group chairman Kumar Mangalam Birla may infuse $150 million into the company, followed by <keyword id="137231" type="General" weightage="20" keywordseo="vodafone-group" source="Orion">Vodafone Group</keyword> which is expected to monetise a part of its stake in Indus Towers and invest it into Vodafone. The AGR dues moratorium and reports of fresh investments have also boosted the confidence of banks in Vodafone Idea. "There is no reason for us to be really concerned. They have plans which they are working on in terms of raising capital, etc, and also increasing the investment in technology. So, that account is back on track,” <a href="https://www.financialexpress.com/industry/provisions-plan-banks-stay-cautious-on-vodafone-exposures/2363215/">said</a> SBI Chairman Dinesh Khara. Business Insider India has written to Vodafone Idea and is awaiting a response. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-and-airtel-need-tariff-hikes-agr-moratorium-might-not-be-enough-say-analysts/articleshow/86285450.cms">Vodafone Idea and Airtel need tariff hikes, AGR moratorium might not be enough, say analysts</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-vodafone-idea-and-jio-welcome-telecom-relief-package-but-analysts-are-divided-on-whether-it-is-enough/articleshow/86252002.cms">Airtel, Vodafone Idea and Jio welcome telecom relief package, but analysts are divided on whether it is enough</a> <a href="https://www.businessinsider.in/business/telecom/news/yes-bank-sbi-and-others-want-vodafone-idea-to-be-saved-heres-why/articleshow/86196076.cms">Yes Bank, SBI and others want Vodafone Idea to be saved, here’s why</a>

After relief from Indian government, Vodafone Idea reportedly turns to banks for a loan recast

<ul><li>RCom asset sale which is currently underway will fetch as less as ₹10,000 crore</li><li>Banks and other creditors have claims worth ₹49,000 crore. </li><li>RCom has 43,000 telecom towers across the country, along with spectrum which will expire in 2021.</li></ul> Anil Ambani’s Reliance Communications (RCom) will leave its creditors<a href="https://telecom.economictimes.indiatimes.com/news/rcom-lenders-may-get-only-rs10k-cr-against-rs49k-cr-claims/70941928"> nearly empty handed</a>, according to a report from The Economic Times citing sources. The asset sale, which is currently underway, could fetch as little as ₹10,000 crore including the proceeds from the sale of spectrum and towers. Lenders have claimed ₹49,000 crore from RCom, of which nearly a third of the claims are from banks in China. The China Development Bank and Exim Bank have an exposure of ₹13,256 crore, combined while Standard Chartered Bank has a claim of ₹2,100 crore. Whereas, amongst its top Indian bankers are State Bank of India with an exposure of ₹4,800 crore, Bank of Baroda with ₹2,500 crore; Syndicate Bank with ₹1,225 crore and Punjab National Bank with ₹1,127crore. A valuable asset that RCom holds is the spectrum that it owns, which it will have to return to the government in 2021. The value of the spectrum will depend on how much time the successful bidder gets to use the airwaves, before the licence expires. If the bankruptcy resolution process is delayed, the idle 4G spectrum across 14 circles may lose value further. RCom has 43,000 telecom towers across the country, along with spectrum. Yet, it is not short of suitors. As per ET reports, Airtel is keen on buying its spectrum along with Reliance Jio which is owned by Anil Ambani’s brother Mukesh Ambani. Mukesh had<a href="https://www.businessinsider.in/mukesh-ambani-and-anil-ambani-may-restart-reliance-communications-deal-talks/articleshow/70253856.cms"> bid for and</a> inked a deal to acquire Anil’s telecom assets, but a lawsuit by its lender Ericsson stalled the deal. SEE ALSO <a href="https://www.businessinsider.in/the-difference-between-mukesh-ambanis-jio-and-ani-ambanis-reliance-communications/articleshow/70869465.cms">Mukesh Ambani's strategy with Reliance Jio is avoiding Anil Ambani's mistakes with RCom</a>

You Searched For "jio towers punjab" and got 9 results

Reliance says it has 'absolutely no plan' to enter contract farming — urges government to stop vandalism amidst ongoing farmers' protests

Sanchita Dash

Telecom tower damage: HC issues notice to Punjab, Centre on Reliance Jio plea

PTI

Punjab and Haryana High Court issues notice to state and Centre on Reliance Jio's plea on telecom tower damage

PTI

From uprooting mobile towers to cries of #BoycottJio— the farmers’ protests in India are heating up and spreading far and wide

Prabhjote Gill

What if Vodafone Idea dies?

Rounak Jain

Reliance Jio moves HC against damage to infra, forcible closure of stores

PTI

Indian markets open mixed tracking global cues – Reliance Industries, Kaynes Technology, NDTV, Nykaa among stocks to watch out for

Rounak

Bhakti

After relief from Indian government, Vodafone Idea reportedly turns to banks for a loan recast

Rounak Jain

Chinese banks have a lot to lose as Anil Ambani’s RCom assets may be worth a quarter of the loans

Katya Naidu