Vodafone Idea rose 2.62% to Rs 11.36 after the company said it acquired spectrum in 5 circles to create further efficiencies in few circles.
Vodafone Idea participated in the just concluded 2021 spectrum auction conducted by the Department of Telecom (DoT), Government of India."We have used this opportunity to optimize spectrum holding post-merger to create further efficiencies in few circles," the company said in a statement.
"The spectrum we have acquired in the 5 circles will further help us to enhance our 4G coverage and capacity, enabling superior digital experience for our customers," it added.
The teleco said that in the next few years, the telecom industry readies to deploy 5G technology with India specific use cases.
The company remains hopeful that large quantum of spectrum in globally harmonized bands, will be made available for all operators in the future as well as it would be at fair prices that allow operators to have ability to rapidly rollout networks.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is amongst India's leading telecom service provider. The company provides pan India Voice and Data services across 2G, 3G and 4G platforms.
The company reported a consolidated net loss of Rs 4532.10 crore in Q3 FY21 compared with net loss of Rs 6438.80 crore in Q3 FY20. Net sales during the quarter fell by 1.7% year-on-year (YoY) to Rs 10,891.60 crore.
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