Page 2 - Vodafone Idea Rcom

Voda-Idea shares rally nearly 10 pc as K M Birla returns to company board

Shares of Vodafone Idea jumped nearly 10 per cent in morning trade on Friday after Aditya Birla Group Chairman Kumar Mangalam Birla returned to the board of the debt-ridden firm as an additional director in a non-executive and non-independent role. The stock of the telecom firm zoomed 9.73 per cent to Rs 6.65 on the BSE. At the NSE, it jumped 9.91 per cent to Rs 6.65. Birla had stepped down from Vodafone Idea Ltd (VIL) board in August 2021 as non-executive chairman of the company. "...the board of directors of the company...at its meeting appointed Kumar Mangalam Birla, as an additional director (Non-Executive and Non-Independent) with effect from 20 April 2023," VIL said in a regulatory filing on Thursday. VIL is reeling under a debt of Rs 2.22 lakh crore, comprising deferred spectrum payment obligations of Rs 1.39 lakh crore and adjusted gross revenue liability of Rs 69,910 crore that are due to the government. The debt from banks and financial institutions stood at Rs 13,190 c

Vodafone Idea awards Rs 200 crore network order to Chinese firm ZTE

Telecom operator Vodafone Idea has recently awarded a network gear order of around Rs 200 crore to Chinese company ZTE, three sources aware of the development said. The company has given orders for broadband network equipment in telecom circles of Gujarat, Maharashtra and Madhya Pradesh-Chhattisgarh (MP-CG), the sources told PTI. "Vodafone Idea has awarded an order of around Rs 200 crore to ZTE," one of the sources said. The matter has been brought to the notice of the National Security Council Secretariat (NSCS), which manages the Trusted Telecom Portal and provides clearance for permissible telecom gears, they added. An email query sent to Vodafone Idea elicited no response. Two sources mentioned that the order has been given for Gujarat and MP-CG circles, while one of them mentioned that the order also includes the Maharashtra circle. The Cabinet Committee on Security on December 16, 2020, approved the National Security Directive on Telecommunication Sector, which mandates ser

AGR dues: DoT's total demand from non-telcos twice that from telcos

The Department of Telecommunications (DoT) has slapped a Rs 15,019-crore demand notice on Gujarat Narmada Valley Fertilizers & Chemicals Ltd, taking the total amount it has sought from non-telecom companies to Rs 3.13 lakh crore following a Supreme Court ruling. While the DoT has sought Rs 1.47 lakh crore from Bharti Airtel, Vodafone Idea Ltd and other telecom companies after the Supreme Court's ruling on revenues that need to be taken into consideration for payment of government dues, its demand notices on non-telecom companies now total at more than double of the telecom firms. In a regulatory filing, Gujarat Narmada Valley Fertilizers & Chemicals Ltd said it has received a December 23, 2019, demand notice from the Office of Controller of Communication Accounts in DoT, Ministry of Communications, seeking payment of over Rs 15,019 crore before January 23, 2020, "in respect of financial years from 2005-06 to 2018-19 in connection with V-SAT and ISP licences held by the ...

Pricing power

Telcos should not give up freedom to set tariffs

Trai unlikely to intervene in telecom tariffs, floor price for now: Sources

As operators have already announced that they will increase tariffs, Telecom Regulatory Authority of India will wait to see how the entire situation unfolds

Two-player market buzz propels Airtel m-cap to record high of Rs 2.22 trn

The company has a valuation of Rs 2.22 trillion, up from Rs 1.33 trillion a year ago

Fitch places Bharti on rating watch negative after top court's ARG ruling

RWN resolution may take over six months as it requires clarity on exact amount and timing of payment of dues and whether govt will provide financial relief to telecom sector

Bharti Airtel, Voda-Idea: How to trade telecom stocks post AGR judgement

According to the experts, the verdict will have a devastating impact on the telcos and Vodafone-Idea will be the worst-hit.

Reliance Jio has been subsidising Airtel, Vodafone Idea: Mathew Oomen

Around 30 per cent of the missed calls used to come from rival networks and our customers called back as it was free, he said