Over the years, Vodafone PLC has invested $30 billion in Vodafone India and has written off the entire investment
The two firms' revenue market share has risen 1,300 bps in two years
The BSE MidCap added 0.10 per cent but the BSE SmallCap index slipped 0.43 per cent
SBI share price skidded 3 per cent to Rs 443 on the BSE in the intra-day trade today as analysts worry that Voda Idea's precarious position may hit the lender's asset quality going ahead
The changes come at a time when Vi is struggling to stay afloat
Hindustan Petroleum Corporation reported a 36 per cent YoY drop in its June quarter net profit
Business Standard brings you the top headlines on Thursday
Birla Group Chief Financial Officer Sushil Agarwal has been named additional director on the Vi board
Vodafone Idea is pushing for a third concession. It is hoping the government will pay the GST refunds
Vi shares plunge 18% after ABG's offer to hand over 27% stake gratis
Lenders to Vodafone Idea (VIL) are expected to hold talks to decide on the future course of action with regard to their exposure to the debt-laden telecom player which is struggling to stay afloat
Himanshu Kapania, currently a non-executive director, has been appointed as non-executive chairman
The broader market, however, saw profit booking as, both, the BSE Mid and SmallCap indices declined 1 per cent each.
Indus' share price has underperformed the market owing to concerns over its key tenant Vodafone Idea's survival
Shares of the telecom services provider tanked 8.5 per cent at Rs 6.03, hitting a fresh 52-week low on the BSE in the intra-day trade
Some issues beyond its control - spectrum payment and adjusted gross revenue dues - have created pressure, which the government is attempting to address
Vi has a debt of about Rs 1.8 trillion, including deferred spectrum obligations and AGR dues
Industrialist Kumar Mangalam Birla has expressed willingness to offer his group's 27% stake in VIL to any government or domestic financial entity in order to keep the stressed telecom company alive
Analysts say that VIL losses could potentially swamp the group finances making Birla wary of making additional investments in the company
Aditya Birla group Chairman KM Birla has offered to hand over his stake in debt-laden Vodafone Idea Ltd to govt or any other entity that govt may consider worthy to keep company operational.