Page 30 - Vodafone Idea

Vodafone Idea zooms 9% on heavy volumes, hits highest level since May

A combined 206 million equity shares of the company changed hands within an hour of trading, as against an average of sub 200 million shares that traded in the past two weeks

VIL shareholders approve Moondra as CEO; Takkar becomes non-exec director

Shareholders of Vodafone Idea have approved elevation of company's chief financial officer Akshaya Moondra as new chief executive officer, according to voting result of the annual general meeting released on Tuesday. The company held its 27th AGM (annual general meeting) on Monday in which 99.75 per cent shareholders voted in favour of the special resolution to appoint "Akshaya Moondra as chief executive officer of the company". Moondra's appointment comes at a time when the company is reeling under debt of close to Rs 2 lakh crore and has been incurring huge losses. VIL has posted marginal narrowing of its consolidated loss at Rs 7,296.7 crore during the April-June quarter compared to the year-ago period, as tariff hikes boosted its realisations. The telco's loss stood at Rs 7,319.1 crore in the year-ago quarter. He will have to handle key tasks of fund raise to support company operations and capital expenditure. Moondra will replace Ravinder Takkar who completed his three-year t

Vi 5G launch to depend on use case, customers demand, competitive dynamics

Debt-ridden telecom operator Vodafone Idea's 5G services launch will depend on several factors such as use cases, customer demand, competitive dynamics etc., a senior official of the company said on Monday. While speaking at the 27th annual general meeting, Vi Managing Director and CEO Ravinder Takker said that the promoters of the company have invested Rs 4,940 crore and the company is in active discussion with investors for fund raise. VIL acquired spectrum worth Rs 18,800 crore, which includes radiowaves in the mid band (3,300 MHz band) in 17 priority circles and spectrum in the 26 GHz band in 16 circles for 5G services. The company also acquired additional 4G spectrum in three circles of Andhra Pradesh, Karnataka and Punjab. The fresh spectrum bid adds an annual installment liability of Rs 1,680 crore on the company. "5G roll-out will depend on various factors such as how use cases will evolve, demand from customers, capacity requirement as well as competitive dynamics," Takkar

Vodafone Idea denies report alleging data leak of 20 mn postpaid customers

After a cyber-security research firm claimed that call data records of around 20 million customers of Vodafone Idea was leaked and accessed by cyber-frauds, the telecom operator has denied the breach

CyberX9 says data of 20 mn postpaid customers of Vi exposed; telco denies

Multiple vulnerabilities in the system of telecom operator Vodafone Idea has exposed the call data records of around 20 million postpaid customers, cyber security research firm CyberX9 said in a report. Vodafone Idea (Vi), however, said there was no data breach and potential vulnerability in its billing communication was immediately fixed after it learned about it. According to the CyberX9 report, the vulnerability exposed postpaid customers' call data records, comprising the time when a call was made, duration of call, location from which the call was made, customer's full name and address, SMS details comprising contact number to which it was sent, among others. CyberX9 founder and Managing Director Himanshu Pathak told PTI that the firm had shared entire findings with Vodafone Idea through email and a company official had acknowledged the vulnerability on August 24. Pathak said CyberX9 reported details to Vi on August 22. "Later on August 22, 2022, Vi confirmed the receipt of o

Sensex ends 352 pts off day's lows, rises 38 pts; L&T, Airtel top gainers

CLOSING BELL: The recovery was led by Kotak Bank (up 4 per cent), L&T, Bharti Airtel, SBI, HDFC Bank, HDFC, and ITC

Telecom user base grows to 1.17 bn with Jio taking lead in new addition

Telecom subscriber base in the country grew marginally to 117.29 crore in June with Reliance Jio adding maximum number of new customers, according to data released by sector regulator Trai on Wednesday. There were 117.07 crore subscribers in May 2022. "The number of telephone subscribers in India increased from 1,170.73 million at the end of May 2022 to 1,172.96 million at the end of June 2022, thereby showing a monthly growth rate of 0.19 per cent," Trai said in the report. The wireless subscriber base grew to 114.73 crore in June from 114.55 crore in May. Reliance Jio's wireless subscriber base grew to 41.3 crore with net addition of 42.23 lakh customers. It was followed by Bharti Airtel whose subscriber base increased to 36.29 crore with net addition of 7.93 lakh customers. Vodafone Idea continued to lose subscribers. Its subscriber base fell by 18 lakh to 25.66 crore. State-run BSNL and MTNL also lost 13.27 lakh and 3,038 wireless customers respectively. The wireline (fixed

Reliance Jio, Voda step up hiring as 5G related job postings rise 65%

As India and other countries take firm steps to adopt 5G, the number of job postings by telcos related to 5G increased by 65 per cent last month, from 5,265 job postings in January to 8,667 in July

Telecom fims, govt in talks over harmonisation of 5G spectrum: Report

The spectrum harmonisation process, critical for 5G services, brings together a bunch of radio wave holdings within a band into one contiguous block with the consensus of all telecom service providers

Vodafone Idea says industry needs tariff increases at regular intervals

Vodafone Idea Ltd says the industry needs to raise mobile tariffs at regular intervals as the sector still operates at unsustainably low prices and revisions will allow it to generate returns.

5G services may come with a premium: Vodafone Idea CEO Ravinder Takkar

However, customers could get a higher data bundle along with pricier plans

Sensex snaps 6-day winning streak ahead of RBI policy outcome, dips 52 pts

CLOSING BELL: PSU banks were the worst hit today with the Nifty PSB index down 1.75 per cent

Vodafone Idea's Q1 loss narrows to Rs 7,296 cr, appoints Takkar as chairman

Average revenue per user (ARPU) improved to Rs 128, up 3.2 per cent quarter-on-quarter from Rs 124 in Q4 of FY22. Telecom companies had taken 20 per cent tariff hikes in November 2021

Vodafone Idea Q1 loss marginally narrows to Rs 7,297 cr; ARPU rises 23%

The company's revenue from operations rose 14% to Rs 10,410 cr

Fag-end buying lifts Sensex 214 pts; Nifty nears 17,400; IT stocks dazzle

CLOSING BELL: All sectors, except IT and Financial Services, witnessed selling pressure today, led by auto, pharma, and public sector banks

Stocks to Watch: ONGC, Reliance, Zomato, Adani Wilmar, IndiGo,Vodafone Idea

Stocks to Watch today: Uber has decided to put its entire 7.8 per cent stake in Zomato on the block, according to sources.

Top Headlines: Windfall tax revision, Jio's purchase of 700 MHz, and more

The government on late Tuesday increased the windfall tax on domestically produced crude to Rs 17,750 a tonne from Rs 17,000 a tonne earlier

Vodafone Idea to target premium customer base for its 5G services

Telecom analysts say the industry is moving into a duopoly with Reliance Jio (Jio) and Bharti Airtel (Airtel) taking the lead

5G: How much money did the govt collect in previous auction rounds?

In the 2022 5G Spectrum auction, Reliance Jio emerged as the top buyer in the auction of airwaves, spending over Rs 88,000 crore, more than half the total bidding amount of Rs 1.5 trillion

Bharti Airtel, Vodafone Idea: Key things to watch in telcos' Q1 results

Vodafone Idea is slated to report its Q1FY23 earnings on August 3, whereas Bharti Airtel would report its results on August 8