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India set for 5G spectrum auction, Reliance Jio, Bharti Airtel lead the race

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With the mega 5G spectrum auction (worth Rs 1.9 lakh crore) beginning from Tuesday amid the tussle over captive private 5G networks, Reliance Jio and Bharti Airtel are set to boost their market share as India prepares for a 5G era.

The four big players in the race — Reliance Jio, Bharti Airtel, Vodafone Idea and Adani group — having submitted a combined Rs 21,400 core in earnest money deposit (EMD), are ready with their war chests and strategies for the mega bid, that is likely to be around Rs 1.5 lakh crore if the last two auctions are kept in mind.

Reliance Jio Infocomm has submitted an EMD of Rs 14,000 while Bharti Airtel has put in Rs 5,500 crore.

In the 2021 auctions for 4G spectrum, Reliance Jio used 77.9 per cent of their earnest money deposit while Airtel used 87.7 per cent.

The 5G era will open 10 times faster than 4G and 30 times faster than 3G, allowing millions to have an experience never seen before.

The 5G auction — entailing 72 GHz of the spectrum – will conclude by July-end and the rollout is expected by September this year.

The Department of Telecom has released a notice inviting applications (NIA) for the auction of spectrum in 600, 700, 800, 900, 1800, 2100, 2300, 2500, 3300 MHz and 26GHz bands.

The NIA provides explicit clarity on the subject of Captive Non-Public Networks (CNPN).

The telcos are allowed to surrender spectrum that will be auctioned after a minimum period of 10 years from the date of acquisition.

Last month, in a big relief to telecom companies, the DoT scrapped the 3 per cent floor rate on spectrum usage charge (SUC).

5G in India will empower tech companies, enterprises and ecosystem players to build private networks and bring next-generation digital transformation which is critical for the country to achieve the goal of becoming a $1 trillion digital economy, according to industry leaders and experts.

According to Broadband India Forum (BIF), this will lead to better efficiencies, productivity and output for the enterprises, accelerate digitisation, boost capabilities, propel indigenous manufacturing and eventually garner greater economic gains for the country.

“As we look to cement India’s position as a global hub for manufacturing, supply chain and R&D, as well as one of the leading digital economies across the world, the advancement of enterprises through dedicated captive private 5G networks will help gain efficiencies in all vital industry verticals,” BIF President T.V. Ramachandran said.

Private 5G networks are about the deployment of high speed, enhanced data capacity, and ultra-low latency applications inside a closed manufacturing unit, hospital, airport, shipping port, etc.

The Cellular Operators Association of India (COAI), the industry’s apex body representing telcos, has urged the government not to allow Big Tech companies to enter the 5G spectrum auction via back door channels.

The COAI said that the 5G spectrum should not be provided on an administrative basis as it leads to no business case for the rollout of 5G networks in the country.

“If the independent entities set up private captive networks with direct 5G spectrum allotment by Department of Telecommunications (DoT), it will diminish the revenue so much that there will be no viable business case left for the telecom service providers (TSPs) and there will not remain any need for 5G networks rollout by TSPs,” COAI Director General, Lt. Gen. Dr S.P. Kochhar, said.

With the 5G auctions, India is one step closer to realising a 5G-led future, with a strong base of 5G-capable devices already in place.

Business

Indian stock market shrugs off midweek volatility, ends week on robust note

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Mumbai, June 21: The Indian equity benchmarks wrapped up the session on a robust note last week, decisively breaking through critical resistance level, propelled by sustained institutional accumulation, analysts said on Saturday.

The Nifty 50 convincingly closed above the psychologically significant 25,000 mark on Friday, underscoring bullish momentum. At the closing bell, the Sensex rallied 1,046.30 points, or 1.29 per cent, to settle at a fresh high of 82,408.17, while the Nifty 50 advanced 319.15 points, or 1.29 per cent, to end at 25,112.40.

“Relentless inflows from institutional investors — both Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs)—acted as key tailwinds, offsetting headwinds from prevailing geopolitical uncertainties and reinforcing positive sentiment across the street,” according to a note by Bajaj Broking Research.

Nifty Index formed a sizable bull candle with a higher high and higher low signaling resumption of up move after recent corrective consolidation. The index in the process closed firmly above the 25,000 levels signalling strength.

“Going forward, we anticipate the index to retest the upper boundary of the recent five-week consolidation zone, currently pegged near the 25,200 mark. A decisive breakout above this resistance band could open the door for an upward extension towards the 25,500 zone in the near term,” said the note.

The Indian stock market shrugged off midweek volatility triggered by escalating tensions in the Middle East and a sharp spike in crude oil prices.

The Reserve Bank of India’s relaxation of project financing norms provided a boost to financial stocks.

“The RBI’s continued dovish tone — signalling potential rate cuts on validating subdued inflation — further reinforced market confidence, positioning monetary policy as a key stabilizing force amid global uncertainty,” said Vinod Nair, Head of Research, Geojit Investments Ltd.

Crude prices surged early in the week due to geopolitical unrest, sparking concerns over inflation. However, the pace of growth in oil prices tapered significantly after the initial spike, helping to ease fears of a sustained inflationary rebound.

Investor sentiment toward the pharmaceutical sector has turned cautious following the proposed imposition of new tariffs, said analysts.

With the deadline for a 90-day pause on reciprocal tariffs approaching, markets are closely tracking trade negotiations and deal-making activity expected to unfold over the next two weeks.

“Meanwhile, geopolitical uncertainty continues to loom, as statements from world leaders regarding possible military involvement in the Middle East keep markets on edge. Investors will also keep a close eye on upcoming U.S. GDP and PCE data, along with India’s PMI figures, for cues on the strength and direction of economic recovery at home and abroad,” Nair noted.

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Business

Stock market exhibits resilience, RBI’s rate cut icing on the cake

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Mumbai, June 7: After starting the week with consolidation, the domestic market exhibited resilience amid concerns over tariff wars and geopolitical escalations, analysts said on Saturday.

Markets consolidated for the third consecutive week but managed to end higher by nearly a per cent, buoyed by favourable domestic cues.

After remaining range-bound for most of the week, benchmark indices surged sharply on Friday and settled near the week’s high, with the Nifty closing at 25,003 and the Sensex at 82,118.99.

“The highlight of the week was the RBI’s policy announcement, which took the market by surprise. The central bank implemented a sharper-than-expected 50 bps repo rate cut and a 100 bps CRR reduction, signalling a strong pro-growth stance. Notably, the policy stance was also shifted from ‘accommodative’ to ‘neutral’ — a move that came sooner than expected,” said Ajit Mishra, SVP, Research, Religare Broking Ltd.

By front-loading its easing measures, the RBI has underscored its commitment to reviving domestic growth amid global uncertainties. While such a bold approach was expected to unfold gradually, this decisive action reinforces confidence in the central bank’s intent to support economic recovery while managing inflation risks.

This week, sectoral performance was broadly positive, with rate-sensitive sectors witnessing strong buying interest. Realty, auto, and banking stocks led the rally, reflecting improved outlooks for credit growth and consumer sentiment. Financials and NBFCs also gained, as lower interest rates are expected to enhance borrowing conditions.

Conversely, IT stocks underperformed due to persistent global uncertainties, particularly in the U.S. and European markets. In the broader markets, both midcap and smallcap indices outperformed the benchmarks, reflecting a risk-on sentiment among investors, with gains ranging between 2.8 per cent and 4 per cent.

According to Vinod Nair, Head of Research, Geojit Investments Ltd, bolstered by supportive macro indicators such as strong Q4 GDP, GST collection and a favourable monsoon, investors focused on domestically oriented and interest-sensitive sectors such as financials, real estate, retail and FMCG, which saw strength, supported by strong institutional inflows.

Profit booking was visible during the week on account of the ongoing global uncertainty. Mid and small caps generally outperformed large caps, driven by better earnings and valuations.

“While China’s rare earth restrictions pose long-term risks and investors await the inflation print in the US, the aggressive RBI rate cut, backed by cooling inflation and a steady GDP outlook, is likely to support investor confidence amidst the ongoing global uncertainties,” Nair noted.

Going forward, market participants will focus on key macroeconomic data for further cues. High-frequency indicators such as CPI inflation will be closely tracked to gauge demand trends and the central bank’s next steps, said experts.

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health

India takes lead in extreme heat risk management under PM Modi’s leadership

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New Delhi, June 7: India has taken a proactive and forward-thinking approach to extreme heat risk management under the leadership of Prime Minister Narendra Modi, said Dr PK Mishra, Principal Secretary to the Prime Minister.

Delivering the keynote address during the Special Session on Extreme Heat Risk Governance in Geneva, he underlined that rising temperatures posing a systemic risk to public health, economic stability, and ecological resilience.

“India welcomes the United Nations Office for Disaster Risk Reduction’s (UNDRR) initiative to advance the Common Framework for Extreme Heat Risk Governance as a platform for shared learning, guidance, and collaboration,” he told the gathering, according to a Prime Minister’s Office (PMO) statement on Saturday.

Dr Mishra pointed out that India has moved beyond disaster response toward integrated preparedness and mitigation strategies. Since 2016, the National Disaster Management Authority (NDMA) has developed comprehensive national guidelines on heatwave management, revised in 2019, which laid the foundation for decentralised Heat Action Plans (HAPs).

He acknowledged the pioneering ‘Ahmedabad Heat Action Plan’, which demonstrated how early warnings, inter-agency coordination, and community outreach can save lives.

“Over 250 cities and districts across 23 heat-prone states have operational Heat Action Plans, supported by NDMA’s advisory, technical, and institutional mechanisms”, said the Principal Secretary, underscoring that strengthened surveillance, hospital readiness, and awareness campaigns have significantly reduced heatwave-related mortality.

India’s approach is whole-of-government and whole-of-society, engaging ministries from health, agriculture, urban development, labour, power, water, education, and infrastructure.

“Extreme heat deeply impacts communities, and India has actively incorporated traditional wisdom and local experiences into its response”, said Dr Mishra.

He noted that schools have become catalysts for behavioural change, educating children about climate resilience. He also emphasised that hospitals and primary health centres must be strengthened to ensure swift and effective emergency responses.

Outlining India’s transition from a preparedness-only approach to long-term heatwave mitigation, including cool roof technologies, passive cooling centres, urban greening, and the revival of traditional water bodies, Mishra affirmed that India is integrating Urban Heat Island (UHI) assessments into city planning.

He called for a global focus on developing a localised heat-humidity index based on real-time data to enhance early warning systems, advancing building technologies and passive cooling innovations that are affordable and culturally appropriate and addressing equity concerns, as extreme heat disproportionately affects women, outdoor workers, the elderly, and children.

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