Till now, eight rounds of bidding have been concluded and the ninth round is underway. The government will allocate the spectrum in record time and 5G services are expected to be rolled out by September.
Shares of Reliance Industries Ltd (RIL) were trading flat ahead of its Q1 earnings set to be announced today. RIL is likely to report strong earnings growth on both year-on-year (Y-o-Y) and quarter on quarter (Q-o-Q) basis. The Mukesh Ambani-led firm is likely to report stronger refining profitability, along with continued improvement in telecom average revenue per user (ARPU).