
Vi stock tanks 4% after Vodafone Group says telco needs liquidity support
Shares of Vodafone Idea plunged 4% to ₹7 apiece on the NSE.
Shares of Vodafone Idea plunged 4% to ₹7 apiece on the NSE.
During the month under review, Jio added 10,04,797 mobile subscribers as against 16,58,448 subscribers in January.
KM Birla has returned to the board of Vi as an additional director (non-executive and non-independent) with effect from April 20, 2023.
Ind-Ra expects telecom companies to increase their capex intensity for the next 12 months to deploy 5G services at an accelerated pace.
Vi has issued 1,200 debentures of the face value of ₹10 lakh each to ATC Telecom Infrastructure, while the balance 400 securities will be allotted later.
The company’s consolidated revenue from operations during the quarter under review stood at ₹ 10,552.90 crore as against ₹9,644.80 crore in the same period a year-ago.
The Centre is now the largest shareholder in Vi, with a 33% stake as it agreed to convert its dues worth ₹16,000 crore into equity shares.
The stock fell 7.36% in the past week; its plans to raise funds are stuck as banks want clarity on the govt and promoters' plans first.
Shares of the company jumped more than 13% in the intraday trade on Wednesday expecting a positive response from the government.
The merger with Bharti Infratel and a sharp rise in mobile data usage aided the revenue growth of the world’s second-largest telecom tower company.