On January 29, the Mukesh Ambani-led Reliance Industries (RIL) single-handedly contributed to a 38 percent surge in the Nifty 50 market capitalisation.
The recent $2.5-billion buyout of American Tower Corps India unit by Canadas Brookfield will give them more firepower to compete with Indus Towers. Both tower companies are expected to offer new products and aggressive rental deals while negotiating long-term tower contract renewals. This consolidation will result in two dominant towercos in the 3-player telco market, ensuring an overall balance in pricing power. Brookfield s acquisition of ATC India will also boost Reliance Jio s 5G rollout. The combined tower assets of Brookfield and Indus will account for 80% of the sector s tower assets in India.
ATC India: Brookfield’s towers are strategically located for pan-India 4G and 5G coverage and are largely connected by fibre backhaul, which provides a unique platform to capitalise on the rollout of 5G and future technologies in both dense urban and remote rural areas. Indus currently operates India’s largest telecom tower network.
RIL Q3: Net debt was up 1 per cent sequentially to Rs 1.19 lakh crore, due to pay-down of creditors for capex. RIL, said Emkay, stated that its new energy giga complex would be commissioned in phases, starting H2CY24.