Page 18 - Vodafone Idea

TMS Ep606: NRI homes, coffee culture, Vodafone Idea, maritime corridor

Are NRIs driving up prices of homes? Has India matured as a coffee drinking nation? Is the rally in Vodafone Idea overdone? What is the Chennai-Vladivostok maritime corridor? Answers here

Vodafone Idea imposed Rs 13.16 cr penalty by addl commissioner in GST case

GST additional commissioner's office in Chandigarh has imposed a Rs 13.16 crore penalty on Vodafone Idea, the company said in a regulatory filing on Thursday. According to the filing, the order was passed on January 10 against the debt-ridden telecom firm for alleged "wrongful transition of CENVAT credit to Goods and Services Tax (GST) regime". "Order passed u/s 74 of Central Goods and Services Tax Act, 2017, inter-alia, levying a penalty of Rs 13,16,53,661," Vodafone Idea (VIL) said in the filing. The company said the maximum financial impact is to the extent of the tax demand, interest and penalty levied. "The Company does not agree with the Order and will take appropriate legal action(s) for rectification/ reversal of the same," VIL said. The order was issued by the Office of the Additional Commissioner, Central Goods & Service Tax in Chandigarh.

Reliance Jio gained 3.15 mn users in October; Vi lost 2.04 mn: Trai

Bharti Airtel, the second-largest player in the market, saw its subscriber count increase by 0.35 million, much lower than the 1.32 million users the company added in September

VIL to seek reversal of Rs 10.7 cr penalty order received under CGST Act

Vodafone Idea on Thursday said that it has received an order under the Central Goods and Services Tax Act, 2017, entailing a penalty of Rs 10.76 crore. The troubled telco further said it will seek rectification and reversal of the order, as it does not agree with it. In a BSE filing, VIL said the contravention related to the "alleged wrong transition of CENVAT credit into GST regime". Citing details it said the order was received by the company under the Central Goods and Services Tax Act, 2017, entailing a levy of a penalty of Rs 10,76,56,733. The order was received on January 3, 2024. "The company does not agree with the order and will take appropriate action(s) for rectification/ reversal of the same," Vodafone Idea said in the filing.

Jio adds 3.16 mn subscribers in October; Vi loses 2.04 mn: Trai data

India's largest telecom operator Reliance Jio added 31.59 lakh mobile users while rival Bharti Airtel's subscriber gain came in at 3.52 lakh in October 2023, as per monthly subscriber data by TRAI. There was no relief for the troubled telco Vodafone Idea on subscriber front, as it lost 20.44 lakh wireless subscribers in October. With the addition of 31.59 lakh users, Jio's total wireless subscriber count climbed to 45.23 crore in October from 44.92 crore in September. Sunil Mittal-led Airtel's wireless subscriber gain of 3.52 lakh pushed up the telco's user tally to 37.81 crore in October. The subscriber losses of Vodafone Idea Ltd (VIL) dragged its wireless user base to 22.54 crore in October, the data by Telecom Regulatory Authority of India (TRAI) showed. Cash-strapped VIL has been battling fundraising woes and subscriber losses.

Air India appoints P Balaji as chief of regulatory and corporate affairs

P Balaji resigned from telecom operator Vodafone Idea on Tuesday after a decade-long stint. He is set to assume his role at Air India on January 11

Not in talks with Musk's Starlink for a tie-up, says Vodafone India

On Monday, the Bombay Stock Exchange, where Vodafone Idea's stock is listed, had asked the company for a clarification, citing the BusinessWorld report

Markets witness stock-specific action, benchmarks ended with wild swings

Railtel, YES Bank, Vodafone Idea, and BHEL rose 2-6 per cent

Vodafone Idea hits over 4-year high; zooms 39% in 2 days on heavy volumes

The stock zoomed 15% to Rs 18.42 on the BSE in Monday's intra-day trade and surpassed its previous high of Rs 18.30 touched on April 1, 2019.

Vi shares rise 22% to 1 yr high as company nears fundraising deadline

The company has said multiple times that any new funding by banks will be used for the deployment of capital expenditure, and not to roll over existing dues

Voda Idea rallies 19%, hits highest level since Jan 2022 on heavy volumes

A combined 1,321 million equity shares, representing 2.7 per cent of total equity of Vi, changed hands on the NSE and BSE till 01:55 PM

Telecom tribunal asks DoT to adjust excess Rs 755 crore collected from Vi

Last month, the Bombay High Court also issued an order in Vi's favour asking the Income Tax department to refund Rs 1,128 crore paid by the telco in taxes for AY2016-17

Govt not considering any proposal to take over Vodafone Idea: MoS

The government is not considering any proposal to take over Vodafone Idea (VIL), Parliament was informed on Wednesday. This was stated by Minister of State for Communications Devusinh Chauhan in a written reply in Lok Sabha. To a question on whether the government has any plan to take over Vodafone Idea, Chauhan said, "No such proposal is under consideration in the Department".

Trai directs Jio, Airtel to clarify terms on unlimited 5G data offerings

Bharti Airtel and Reliance Jio have both clarified that unlimited does not equate to infinity as data usage is restricted by speed and network

Vodafone Idea likely to miss December deadline to raise funds: Report

The delay in plans to raise fresh funds is crippling the telco's plan to launch its 5G services

Reliance Jio gains 3.24 million users in Aug, Vi loses nearly 50K: Trai

Jio has consistently posted robust growth in user numbers, having added 2.2 million users in June

Jio cements lead with net additions of 3.2 mn mobile users in Aug: Trai

India's largest mobile operator Reliance Jio added 32.4 lakh users in August, and its wireless subscriber tally topped 44.57 crore, according to data released by telecom regulator Trai. Bharti Airtel gained 12.17 lakh wireless subscribers in August, while cash-strapped Vodafone Idea lost 49,782 users. The mobile subscriber count of Bharti Airtel rose to 37.64 crore in August. Vodafone Idea (Vi), on the other hand, saw its wireless subscriber numbers dip to 22.82 crore during the month. Reliance Jio cemented its position as India's largest mobile operator, adding 32.45 lakh users in August and its wireless subscriber base swelled to over 44.57 crore, according to monthly telecom subscription data released by Telecom Regulatory Authority of India (Trai). Jio's net adds for August were, however, lower than 39 lakh additions in July. "In August, 12.67 million subscribers submitted their requests for Mobile Number Portability (MNP)," Trai said. With this, the cumulative requests (sinc

Trai asks telecom companies to quickly deploy consent driven anti-spam tech

Telcos say businesses dragging feet on new Digital Consent Authorization

This telecom stock nearly doubled in 4 months on institutional buying

Shares of Vodafone Idea hit a 22-month high of Rs 14.45 on the BSE in the intraday trade on Friday, recording positive monthly returns for seven straight months

Vodafone Idea up 12%, hits 21-month high on hopes of equity infusion by Dec

A combined 774 million equity shares, representing 1.6 per cent of total equity of Vi, changed hands on the NSE and BSE till 12:57 PM