Vodafone says its share in Vodafone Idea is worth zero
The trading volume more than doubled on Monday with a combined 832 million equity shares, representing 10.4 per cent of total free-float equity of Vodafone Idea, changing hands on the NSE and BSE
Vodafone Idea, which is facing a financial crisis after the apex court ordered it to pay AGR dues and penalties totalling Rs 53,000 crore, will, however, have to wait for other refunds
'Longer term viability of VIL continues to remain under cloud,' noted Credit Suisse in a report
Telcos could explore equity tie-ups with tech majors
The UK-based group accelerated the payment mainly to tide over any liquidity crisis arising out of the Covid-19 pandemic
In the earnings department, a total of seven companies including Britannia, Bharti Infratel, and Hathway Cable are scheduled to announce their March quarter results today
The payment was due in September 2020 under the terms of the contingent liability mechanism with Vodafone Idea
Top company executives said the firm had earlier planned to invest about Rs 3,880 crore in the present financial year.
Top line gets boost in March qtr as more people work from home
This period will serve as a reckoning for remote work and may help to spur on digital transformation
In a bid to do this at the available capacity, Bharti Airtel and Vodafone Idea have said they are doing everything to keep the situation under control
Sebi has also introduced limits on open positions for going short or long in index derivatives
A hike in tariffs is guaranteed. But it would not necessarily lead to higher ARPU
There has been a steady rise in market concentration in several sectors across manufacturing
A bench of Justices Arun Mishra, S A Nazeer and M R Shah refused to take up the Centre's plea for allowing telecom companies to pay AGR dues in 20 years
The government had approached the apex court seeking approval to a formula allowing telcos to pay their remaining AGR dues in annual installments over the next 20 years or so
A Bench of Justices Arun Mishra and M R Shah, hearing the DoT plea in the AGR matter, said if SC allowed a plea like this, it would also become party to a fraud
"Do not pay anything. Do not pay this. Do not pay the AGR (Adjusted gross revenue) also," the bench said while dismissing the appeal of the telecom firm.
On February 14, the Supreme Court had directed telecom companies to pay the AGR-related liabilities to the government by March 17