Ambani vs Adani: Adani and Ambani have not had a direct face-to-face in any business so far. However, now the situation seems to be changing.
Ambani vs Adani: Asia’s richest man and veteran businessman Gautam Adani can now enter the Indian telecom sector as well. If this happens, then Adani Group will have a direct competition with Reliance Jio and Airtel. Information about Adani’s entry in the telecom sector has been received by news agency PTI quoting sources.
Adani Group also applied for 5G
The application for participation in the auction of the fifth generation i.e. 5G spectrum has been closed and on Friday, four companies have applied. The auction is to be held on July 26. Three sources with knowledge of the matter said that three private companies in the telecom sector – Jio, Airtel and Vodafone Idea have applied. One of these sources said that the fourth applicant is Adani Group. However, no response has been received from Adani Group in this regard so far. According to the timeline of the auction, the details of the applicants will be published on July 12 and the auction is starting from July 26, 2022. 72,097.85 MHz spectrum worth at least Rs 4.3 lakh crore will be put up in the auction.
Stock Tips: After a jump of 137%, there is a possibility of 27% increase, market experts are betting on this Gujarati company
Ambani and Adani have not yet had a direct competition
The country’s two richest men, Adani and Ambani, are both from Gujarat and both have formed big business groups. However, so far the two have not had a direct face-to-face in any business. Ambani’s business spans from oil and petrochemicals to telecommunications and retail, while Adani’s business spans from ports to coal, energy distribution and aviation. However, now the conditions seem to be changing and there can be a direct business competition between them. Adani has made a subsidiary company to enter the petrochemical business, on the other hand Ambani has also announced plans of billions of dollars in the energy business.