On Tuesday, the stock of the telecom services provider had tanked 21 per cent to Rs 11.80 after the company said it agreed to convert interest on deferred statutory dues into equity.
Vodafone Idea said the equity shares will be issued to the Government at par value of Rs 10 per share, subject to final confirmation by the DoT.
Voda Idea was the major gainer among the leading telecom stocks, up over 2 per cent; MTNL and TTML were locked at their respective upper limits
Jio network recorded around 10 per cent rise in average 4G data download speed while speed on VIL and Airtel network increased 8.9 per cent and 5.3 per cent respectively
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The shares of the telecom service provider were trading at their highest level since May 7, 2019
The markets may consolidate after two days of strong gains for the benchmark indices
According to report, the Department of Telecommunications (DoT) has started releasing bank guarantees (BGs) issued by Bharti Airtel and Vodafone Idea.
In the past two weeks, the stock has surged 34 per cent after the telecom service provider increased its prepaid tariff by 20-25 per cent from November 25, 2021
In past six trading days, the stock of telecom services provider has rallied 24 per cent after the company had increased its prepaid tariff by 20-25 per cent from November 25, 2021.
The SGX Nifty indicates a quiet start for our markets this morning
The subscriber base of Airtel stood at 35.44 crore in September as against 35.41 crore users in August
NBFCs may be in focus today on reports of 17 per cent YoY growth in sanctioned loans in Q2FY22
The company is also in talks with banks and investors for raising funds, an official said
Amaraja Batteries, Apollo Hospitals, Ashok Leyland, Bharat Forge, BPL, Glenmark Pharma, Hero MotoCorp, Vodafone Idea, National Aluminium, Reliance Capital, SpiceJet and Suzlon are some of the stocks
The pricing per se of JioPhone Next is not disruptive given the slew of smart phones already available in Rs 5,000-7,000 range, said ICICI Sec in a note
The urgency around tariff hikes has come down with Vodafone Idea Ltd's (VIL) near-term cash outflow significantly reduced, IIFL Securities said.
The government announced a relief package for the telecom sector, providing a near term liquidity solution, particularly helpful to VIL, and addressed multiple long term issues of the sector.
The downgrade reflects a substantial decline in the company's subscriber base. It lost 12.40 million subscribers during Q1FY22
Vodafone Idea Q1 Preview: Voda Idea's fundraising plans and commentary on average revenue per user (ARPU) trajectory ahead will remain key monitorables for experts and investors alike