The group is reportedly looking to raise long-term debt for ailing telco Vodafone Idea (Vi) and use preferential share allotment as the route
Stocks to watch today: While Eicher Motors posted 62.4 per cent year-on-year (YoY) jump in the December quarter (Q3FY23) profit, Vodafone Idea's net loss widened 10.5 per cent YoY to Rs 7,990 crore
The company lost 5.8 million subscribers sequentially and its user base stood at 228.6 million at the end of the second quarter
Liberty Global, which acquired 1.34 billion shares in Vodafone, said in a statement on Monday that it isn't considering an offer for the Newbury, England-based telecom group
5G spectrum: Centre is looking for ways to shift some broadcasting and satellite players from 3.8 GHz to higher frequency
The company has paid about 10% of the charges and fees it owes govt for the October-December quarter
This is expected to free up some cash for Vodafone Idea which needs to pay urgently to Indus Towers, Nokia and Ericsson
Vodafone's losses are expected to touch Rs 30,000 crore in the financial year 2022-23
Operational and management control of the company will remain with existing promoters
Back in 2012, when the stock climbed over the same average, the stock price doubled in three years. The 50-MMA has become a decisive indicator for the shares of Vodafone Idea.
Business Standard brings you the latest headlines at this hour
Is Vodafone Idea out of the woods? Is Air India turning the corner under new management? Is the selling in bank stocks after Adani group fallout overdone? What are lab-grown diamonds? All answers here
Stake issuance coupled with potential capital infusion by promoters should help Vi clear pending dues and invest in 5G; Indus Towers' receivables set to reduce
The estimate for what it needs to tackle now is Rs 40,000 crore
Shares of Indus Towers, too, surged 15 per cent to Rs 164.80 on the BSE
Stocks to Watch: Paytm has narrowed its consolidated net loss to Rs 392 crore in Q3FY22. The company had posted a net loss of Rs 778.4 crore a year ago
16-mnth hold-up: User base down by a tenth, Ebitda margins squeezed, losses pile up
Govt should have moved fast in Vodafone Idea matter
Fund infusion critical to sustaining operations of the firm over medium term, say analysts
Centre clears Rs 16,133-crore dues conversion into equity