The debt-ridden telecom operator expects the government to complete conversion of around Rs 16,100 crore dues into 33 per cent stake in the company in the coming weeks, reported news agency PTI.
The stock has declined more than 50 per cent from its 52-week high touched in December 2021; Charts indicate the best way to approach the stock is to stay on the sidelines for now.
Stocks to Watch Today: The primary market too is likely to be abuzz with activity with three IPOs namely - Delhivery, Prudent Corporate Advisory Services IPO and Venus Pipes IPO open for subscription.
Vi registers 7.5% sequential growth in its ARPU at Rs 124 aided by tariff hike in November
The telco's revenue from operations rose 6.6% to Rs 10,240 crore in Q4FY22 from Rs 9,648 crore in the year-ago period
The BSE Telecom index is likely to gain up to 3.50 per cent, as the index firmly holds the support around the 100-DMA, shows chart.
Jio customer base erodes for third month on the trot though the firm makes gains in number of active users
Bharti Airtel needs to overcome its resistance at Rs 780 for further upside; MTNL, Voda Idea can zoom up to 30%
TCS is likely to announce results after market hours on Monday. The IT stocks will be in focus with Infosys too to announce earnings later this week.
This is in line with last year's telecom reforms package which reduced bank guarantee norms for licence fee and spectrum dues. Vi confirms development, but is silent on amount
Vodafone Idea on Wednesday announced its partnership with Apna, Enguru and Pariksha to enhance engagement with users, specially the job aspirants, and reduce customer churn on the network
The board of directors of the company on March 31, 2022 had approved the allotment of 3,383 million equity shares at Rs 13.30 per scrip to three promoters group entities for about Rs 4,500 crore.
Vodafone Idea board has approved the allotment of 3.38 bn equity shares at Rs 13.30 per scrip to three promoters group entities - Euro Pacific Securities, Prime Metals and Oriana Investments
Mobile companies took a 20% tariff hike in prepaid plans towards November-end, which has resulted in consolidation of SIM cards
Post issuance of the shares, the government is expected to hold around 35.8% stake in the company, as per company estimates
The deal will see Nokia deploying 12,000 5G-ready radio sites and 4,000 small cells in Vodafone Idea's network in India's capital Delhi, the sources said
FMCG major Emami has acquired a 19 per cent equity stake in direct-to-consumer (D2C) nutrition firm Tru Native F&B Pvt Ltd.
Move follows proposed issuance of equity to central govt via conversion of interest payment
Capital raise will provide some respite to Vodafone Idea, but a long and arduous path still remains to be traversed, say analysts
Pharma shares are likely to be in limelight as NPPA may allow up to 10 per cent hike on scheduled drugs in the month of April.