How does #Reliance benefit from buying Just Dial? A Thread👇
Reliance acquired Just Dial through a controlling stake of about ₹ 5700 Cr. But why? 🧐
Just Dial mainly just had listings of businesses but recently they’ve ventured into a digital mart, an online B2B platform where Indian manufacturers can connect and trade.
Reliance will be able to gain access to this database of listings and expand its own digital ecosystem
It all started when a Redditor noticed that a hedge fund had taken a huge amount of short trades against GameStop and posted on the popular Reddit page #wallstreetbets, which is fond of targeting short-sellers
The Redditors on the thread joined forces and bought as much GameStop stock as possible 💰
This made the price rise exponentially and hedge funds short position started to lose billions
So, the short-sellers had to buy shares to cover their losing bids
Tesla boss @elonmusk aka “Papa Musk” tweeted Gamestonk!!", along with a link to the Reddit page which acted as a catalyst to the whole fiasco and sent the stock price to dizzying new heights 🚀
Reliance Jio Infocomm Ltd. will now start charging customers for voice calls to recover interconnection usage charges. Users, however, will be compensated with free data of similar value
But first, What is IUC(Interconnect Usage Charge)?
It is the price paid by one mobile telecom operator to another when its customers make outgoing mobile calls to the other operator’s customers. It is currently set at 6 paise/ minute
Jio has been hit with the missed-call wave because of free calls
It receives 25-30 crore missed calls daily and when Jio customers call these users back, instead of receiving 6 paise per minute from other network operators as an IUC, Jio eventually has to pay for callbacks