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Tag: Vodafone-Idea

  • Share Market Today: Sensex slips over 300 factors in early commerce, Nifty dips under 16,550-mark; IT, FMCG shares weigh

    Market Today(26 July, 2022): The frontline fairness indices on the BSE and National Stock Exchange (NSE) opened marginally decrease however progressively slipped over 0.5 per cent within the early commerce on Tuesday weighed by IT, FMCG and banking shares.

    At 9:41 am, the S&P BSE Sensex was down 316.21 factors (0.57 per cent) at 55,450.01 whereas the Nifty 50 was buying and selling at 16,535.25, down 95.75 factors (0.58 per cent).

    On the Sensex pack, Dr. Reddy’s Laboratories, Nestle India, Infosys, HCL Technologies, Kotak Mahindra Bank, Larsen & Toubro (L&T), Tech Mahindra, Asian Paints, Tata Consultancy Services (TCS) and Axis Bank had been the highest laggards in early commerce. On the opposite hand, Bajaj Finserv, Tata Steel, ExtremelyTech Cement, Bajaj Finance, Reliance Industries (RIL) and Mahindra & Mahindra (M&M) had been the gainers.

    “The dark cloud on the global economic horizon is the threat of an imminent US recession impacting global economic growth. Jury is still out on whether the US slips into a recession or not. But a global growth slowdown appears inevitable. Walmart’s profit warning issued yesterday is an indication of the difficult days ahead for corporate earnings. Europe is the weakest geographical space in the world and China is struggling. Even though the Indian economy is resilient now, global growth slowdown will impact India too. This means, from the fundamental perspective, there is a limit to market upside. The 1400-point rally in Nifty from its June lows has again stretched market valuations. Therefore, FIIs might again turn sellers to rallies,” stated V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    Global Markets (from Reuters)

    Asian shares wobbled on Tuesday and bonds had been agency as a revenue warning from Walmart put consumption and firm earnings underneath a cloud forward of what’s prone to be one other sharp US rate of interest hike.

    MSCI’s broadest gauge of Asia shares outdoors Japan meandered simply above flat. Japan’s Nikkei fell 0.2 per cent and S&P 500 futures had been down 0.4 per cent.

    US retailer Walmart Inc reduce its revenue forecast on Monday and stated clients had been paring again discretionary purchases as inflation bites family budgets. Shares fell 10 per cent after hours and rivals Target and Amazon additionally slid.

    Investors are additionally awaiting a probable 75 foundation level Federal Reserve rate of interest enhance later this week – with markets pricing a few 10 per cent danger of a bigger hike, in addition to ready to see whether or not financial warning indicators immediate a shift in rhetoric.

  • Airtel to be at forefront of bringing 5G connectivity to India: Sunil Mittal

    Bharti Airtel Chairman Sunil Mittal has stated that the corporate will probably be on the forefront of bringing 5G connectivity to India with a robust community to help the nation’s digital-first financial system.

    The feedback from Mittal assume significance because the countdown for 5G spectrum auctions has begun.

    A complete 72 GHz (gigahertz) of radiowaves price at the very least Rs 4.3 lakh crore will probably be placed on the block in the course of the public sale, scheduled to start on July 26.

    As a precursor to the mega occasion, the Telecom Department is holding a mock public sale (mock drill) on Friday and Saturday (July 22 and July 23).

    A unit of billionaire Gautam Adani’s flagship Adani Enterprise Ltd, Reliance Jio, Bharti Airtel and Vodafone Idea are set to take part within the public sale of 5G spectrum.

    The India market is equipped for 5G providers, that can usher in ultra-high speeds (about 10 instances quicker than 4G) and herald new-age providers and enterprise fashions.

    In Bharti Airtel’s annual report 2021-22, Sunil Mittal stated, “We can proudly say that Airtel will be at the forefront of bringing 5G connectivity to India with a powerful network that will support India’s digital-first economy.”

    Mittal famous that Airtel took the lead in 5G by testing the community forward of the competitors and have become the primary operator in India to reveal a 5G cloud gaming expertise and conduct a profitable 700 Mhz band trial for rural connectivity.

    In his message to shareholders titled ‘Onwards with courage and confidence’, Mittal additional stated digital providers, within the subsequent few years, will add a number of billion {dollars} to the corporate’s income whereas sustaining an asset gentle method.

    This confidence is borne out by the early successes in Airtel’s digital endeavors, he defined.

    Amidst new COVID-19 variants, geopolitical crises, hovering commodity costs and excessive inflation, the monetary yr noticed India emerge as a brilliant spot within the world financial system, Mittal wrote.

    “We must all prepare to take a big step forward and have the courage to do things in a new way with renewed confidence,” he stated.

    Airtel Managing Director, Gopal Vittal stated the corporate is “fully ready” for 5G and that its core community, radio community and transport community is totally future proofed.

    “… We demonstrated our readiness for 5G by conducting industry first trials that focused on both consumer and industrial use cases,” Vittal stated.

  • Adani Group planning to enter telecom spectrum race; to face Ambani’s Jio, Mittal’s Airtel

    Billionaire Gautam Adani’s group is claimed to be planning a shock entry into the race to amass telecom spectrum, which is able to pitch it straight in opposition to Mukesh Ambani’s Reliance Jio and telecom czar Sunil Bharti Mittal’s Airtel, sources mentioned.

    Applications for collaborating within the July 26 public sale of airwaves, together with these able to offering fifth-generation or 5G telecom companies reminiscent of ultra-high-speed web connectivity, closed on Friday with at the least 4 functions.

    Jio, Airtel and Vodafone Idea — the three non-public gamers within the telecom sector — utilized, three sources with data of the matter mentioned.

    The fourth applicant is Adani Group, one of many sources mentioned, including that the group had lately obtained National Long Distance (NLD) and International Long Distance (ILD) licences.

    But this might not be independently confirmed. Email and cellphone calls made to the Adani Group didn’t elicit any response.

    As per the public sale timelines, possession particulars of candidates are to be printed on July 12 and the bidders must be identified then.

    A complete of 72,097.85 MHz of spectrum value at the least Rs 4.3 lakh crore will likely be placed on the block in the course of the public sale, set to begin on July 26, 2022.

    The public sale will likely be held for spectrum in numerous low (600 MHz, 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz), mid (3300 MHz) and excessive (26 GHz) frequency bands.

    Ambani and Adani, who hail from Gujarat and went on to construct mega enterprise teams, had until lately not had a direct face-off. While the previous expanded from the oil and petrochemicals enterprise into telecom and retail, the latter diversified from the ports section to coal, vitality distribution and aviation.

    But more and more, their pursuits are overlapping, setting what some say is the stage for a conflict.

    Adani has within the latest months arrange a subsidiary for a foray into petrochemicals — a enterprise that Ambani’s father Dhirubhai started with earlier than its downstream and upstream operations.

    Ambani too has introduced multi-billion-dollar plans for brand spanking new vitality enterprise, together with Giga factories for photo voltaic panels, batteries, inexperienced hydrogen and gasoline cells. Adani, who had beforehand introduced plans to be the world’s largest renewable vitality producer by 2030, too has unveiled hydrogen ambitions.

    And now, if the Adani group participates within the 5G public sale on July 26, will probably be the primary direct competitors with Ambani.

    The Cabinet, final month, accredited 5G auctions at reserve costs really helpful by the sector regulator Telecom Regulatory Authority of India (TRAI). The regulator had really helpful an about 39 per cent reduce in ground worth for the sale of 5G spectrum for cellular companies.

    The validity of the precise to make use of spectrum will likely be of 20 years.

    Overall, the cost phrases have been eased for bidders within the upcoming public sale.

    For the primary time ever, there is no such thing as a necessary requirement to make upfront cost by the profitable bidders.

    Payments for spectrum might be made in 20 equal annual installments to be paid prematurely at first of every yr, a rest that’s anticipated to considerably ease money circulation necessities and decrease the price of doing enterprise on this sector.

    The bidders could be given an choice to give up the spectrum after 10 years with no future liabilities with respect to steadiness installments. No SUC (spectrum utilization expenses) will likely be levied for the spectrum acquired on this public sale.

    While the 5G spectrum in 9 frequency bands will likely be auctioned to telecom operators, the Notice Inviting Applications — the bid-related doc issued by the Telecom Department — mentioned tech corporations will likely be allowed to take the 5G spectrum for his or her captive personal community on lease from the telecom corporations.

    The bid doc mentioned direct allocation of spectrum to tech corporations will comply with a requirement research and sector regulator TRAI’s advice on elements reminiscent of pricing and modalities of such allocation.

    The choice on non-public networks is seen as a dampener for telcos, which had been arguing that if unbiased entities are allowed to arrange non-public captive networks with direct 5G spectrum allotment by the telecom division, the enterprise case of TSPs (Telecom Service Providers) will get severely degraded.

  • SBI Card companions with Aditya Birla Finance for ‘Aditya Birla SBI Card’

    SBI Card introduced the launch of ‘Aditya Birla SBI Card’, a life-style bank card, in partnership with Aditya Birla Finance Ltd (ABFL), the lending subsidiary of Aditya Birla Capital Ltd. 

    According to the press launch, the bank card has been launched in two variants – ‘Aditya Birla SBI Card SELECT’ and ‘Aditya Birla SBI Card’, on the Visa platform. Cardholders can get reward factors on their spending on Aditya Birla Group Companies, be it on telecom payments via Vodafone Idea (Vi) or on life-style shops similar to Louis Philippe, The Collective, Van Heusen, Allen Solly, Peter England, American Eagle, Polo, and Pantaloons amongst others. The card additionally supplies reward factors on spending in lodges.

    According to Rama Mohan Rao Amara, MD & CEO, SBI Card, “We are delighted to hitch palms with Aditya Birla Finance. This partnership will allow us to challenge bank cards to Aditya Birla Group’s buyer base, thereby offering them a fantastic product for all their spending wants. This is consistent with our technique of enhancing worth for each clients and co-brand companions. The buyer acquisition course of can be utterly digital, thereby making certain an enhanced buyer expertise.”

    Speaking on the launch, Rakesh Singh, MD & CEO, Aditya Birla Finance Ltd, said: “We are delighted to collaborate with SBI Card to launch the ‘Aditya Birla SBI Card’, which will immensely benefit the 35 million customers of Aditya Birla Capital and help us leverage the customer ecosystem of the Aditya Birla Group. Consumers are adapting to digital payments today, and this offering will fuel the purchasing power of our consumers. It will enable us to engage deeper with them by ensuring an impactful consumer experience, best-in-class rewards, and hassle-free payment services.”

    Sandeep Ghosh, Group Country Manager, India and South Asia, Visa mentioned, “This thrilling partnership of Visa, Aditya Birla Finance and SBI Card for the co-branded bank card is a superb instance of delivering easy but personalized choices, for varied manufacturers of Aditya Birla Group and in classes like eating, leisure, and gas. We are assured the proposition will attraction to shoppers and assist construct loyalty.”

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  • Vodafone Idea board assembly on Wednesday to contemplate as much as Rs 500 crore fundraising from Voda Group

    Vodafone Idea’s Board is scheduled to fulfill on June 22, to contemplate and approve a proposal for elevating funds to the tune of Rs 500 crore.

    The fundraising will probably be by means of the issuance of fairness shares or convertible warrants on a preferential foundation to a number of entities belonging to Vodafone Group (one of many promoters of the corporate).

    “… A meeting of the Board of Directors of the company is scheduled to be held on Wednesday, 22nd June 2022… to consider proposal for raising of funds aggregating up to Rs 500 crore, by way of issuance of equity shares and/or convertible warrants on a preferential basis to one or more entities belonging to Vodafone Group (one of the promoters of the company),” VIL stated in a submitting to BSE on Sunday night.

    The transfer comes because the Indian telecom market is poised for the 5G spectrum public sale and subsequent rollout of new-age choices.

    Following the September reforms introduced by the Centre, debt-ridden Vodafone Idea (VIL) had opted for changing about Rs 16,000 crore curiosity dues legal responsibility payable to the federal government, into fairness.

    This will outcome within the authorities holding a couple of 33% stake within the firm.

    Sources on the Department of Telecommunications (DoT) stated that VIL’s fairness conversion proposal is within the closing levels, and required approvals on the identical are anticipated as early as 7-10 days.

  • Vodafone Idea Disney+ Hotstar pay as you go packs for IPL matches. List right here

    Vodafone Idea Limited (Vi) has designed particular pay as you go plans for its subscribers to benefit from the ongoing IPL matches. The telecom service supplier has pay as you go plans with Disney+ Hotstar subscription. The Disney+ Hotstar is streaming the IPL 2022 matches. These pay as you go packs begin from ₹499 and go until ₹3,099 bundled with Disney+ Hotstar subscription.

    Similarly, Jio has additionally launched advert on pay as you go plans with the Disney+ Hotstar subscription. This is the fifteenth version of Indian Premier League (IPL) sponsored by Tata Group for the primary time. IPL 2022 began on March 26.

    The primary of the Vodafone Idea Disney+ Hotstar pay as you go recharge plan begins at ₹499. The pay as you go pack comes with a validity of 28 days having 2GB information per day. The limitless calling and 100 SMS per day are additionally a part of the plan. On prime of those advantages, it additionally will get one 12 months subscription of Disney+ Hotstar the place you may watch IPL matches and different collection.

    The ₹1,066 has comparable advantages however comes with 84 days validity together with an 12 months of Disney+ Hotstar advantages.

    There are different provides just like the ₹601 pack that will get 3GB information every day however for 28 days solely and the subscription to the app. The ₹601 pack additionally will get 16GB extra information. Another 3GB per day information pack is priced at ₹901 having 70 days validity and Disney+ Hotstar app subscription. Similarly, the ₹901 pay as you go plan will get 48GB extra information.

    The one year Vi pack comes at ₹3,099 with Disney+ Hotstar advantages. The yearly plan is bundled with 1.5GB information per day, limitless voice calling and 100 SMS every day.

    These pay as you go plans can be found by means of Vi app and on firm’s web site. 

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  • Vodafone Idea shareholders okay Rs 14.5K crore fundraise

    Shareholders of Vodafone Idea have authorized a proposal to boost Rs 14,500 crore, the debt-ridden telecom operator mentioned in a submitting on Saturday.

    Shareholders authorized the proposal on the extraordinary basic assembly held on Saturday.

    It had positioned particular decision of challenge of fairness shares price Rs 4,500 crore to the group corporations of promoters Vodafone and Aditya Birla Group for transaction on the EGM.

    As a part of its fundraising, VIL had sought shareholders’ approval to boost Rs 10,000 crore by means of sale of fairness or by means of a mixture of ADR, GDR and FCCBs.

    WITH PTI

  • Govt to carry Vodafone Idea shares through SUUTI, course of to be over in ‘coming months’

    Debt-laden telecom service supplier, Vi, previously Vodafone Idea, which opted for the interest-to-equity conversion scheme of the Department of Telecommunications (DoT), will problem the 35.8 per cent shares to the federal government on a preferential foundation via the Specified Undertaking of the Unit Trust of India (SUUTI), the corporate’s managing director and chief government officer, Ravinder Takkar, stated.
    “Following conversion, the government will likely hold around 35.8 per cent stake while both the promoters (Vodafone Group and Aditya Birla Group) will jointly 46.3 per cent. The equity shares will be issued post confirmation of the final amount, as well as some procedural clarifications from the DoT. We believe the entire exercise will be completed in the coming months,” Takkar stated at a digital press convention on Wednesday.
    Currently, Vodafone Group owns near 45 per cent of Vodafone Idea, whereas Aditya Birla Group owns roughly 28 per cent stake.
    Vi had early morning on Tuesday stated that its board of administrators had accepted the corporate’s plan to go for the DoT’s supply of changing curiosity on deferred spectrum public sale funds and adjusted gross revenues (AGR) to fairness.

    In its launch to the exchanges, Vi stated the online current worth of curiosity associated to spectrum public sale dues and AGR would come to round Rs 16,000 crore.
    Since the common worth of Vi’s shares on August 14, 2021, which the Supreme Court determined could be the closing date, was under par worth, the corporate would problem shares to the Government at par worth of Rs 10 per share.
    By one other decision, the present promoters additionally agreed to amend the shareholder settlement and introduced down the minimal qualifying shareholding threshold from 21 per cent to 13 per cent.
    This signifies that each Vodafone Group and Aditya Birla Group will proceed to carry rights to make essential choices in regards to the firm, corresponding to appointment of administrators and different key officers.
    On Wednesday, Takkar additionally clarified that although the federal government could be the only largest shareholder publish the fairness conversion, it had not expressed any curiosity in working the corporate.
    “In all of our interactions with the government…it has been very clearly stated that they do not want to run this company. They do not have the desire to take over the operations of the company. They want three private players in the market and certainly do not want a duopoly or monopoly,” Takkar stated.
    Vi, which is reeling underneath debt in extra of Rs 2 lakh crore, has been trying to elevate funds from buyers for fairly a while. The authorities’s supply of deferred fee of adjusted gross income dues got here as a significant breather for Vi, which owed the Department of Telecommunications (DoT) greater than Rs 58,000 crore simply as AGR.
    On Wednesday, Takkar additionally stated that its plans to boost funds may materialise quickly. He, nevertheless, refused to supply any particulars on the timeline.
    Analysts, nevertheless, consider that to ensure that the corporate to outlive the long term, it must elevate tariff within the coming occasions, and purpose for a mean income per person (ARPU) of as much as Rs 300, which is sort of thrice the present ARPU of Rs 109.

  • Govt doesn’t wish to run Co; present promoters totally dedicated to managing operations: VI CEO Ravinder Takkar

    A day after Vodafone Idea Ltd opted to transform curiosity on dues to authorities fairness, its CEO on Wednesday stated the federal government had made its place amply clear that it doesn’t wish to run the telco, and added that present promoters are totally dedicated to managing and operating the corporate’s operations.
    Vodafone Idea (VIL) on Tuesday introduced its determination to go for changing about Rs 16,000 crore curiosity dues legal responsibility payable to the federal government into fairness, which is able to quantity to round 35.8 per cent stake within the firm.
    If the plan goes by way of, the federal government will turn into the most important shareholder within the firm which is reeling below a debt burden of about Rs 1.95 lakh crore.
    VIL Managing Director and CEO Ravinder Takkar instructed reporters in a digital briefing that there is no such thing as a situation within the Telecom Department’s letter on fairness conversion possibility, which permits for board seats for the federal government. The present promoters are totally dedicated to managing and operating the corporate’s operations, he asserted.

    “In all of our interactions with the government leading up to the package and even after the announcement of the package, it has been clearly stated by the government that they do not want to run the company. They do not have the desire to take over operations of the company… They want three private players in the market, they do not want duopoly or monopoly,” VIL CEO stated.
    The authorities has “made it clear they want promoters of this company to run it going forward”, he stated, including that VIL expects no change of their place.
    Takkar additional stated he expects your complete course of to conclude within the coming months.
    On the rationale for the choice, the VIL high boss stated that on condition that a lot of the telco’s debt are to the federal government, “it was clear to us that converting some of debt to equity is a good option for the company to reduce its debt going forward”.

    Since the typical value of the corporate shares with respect to the related date was under par worth, the fairness shares will probably be issued to the federal government at par worth of Rs 10 per share, he defined.
    Post-conversion, Vodafone Group shareholding within the firm will drop to round 28.5 per cent, and Aditya Birla Group to round 17.8 per cent.

  • Vodafone opts for equity-linked rescue, Govt will personal 35.8%

    DEBT-LADEN non-public telecom operator Vi on Tuesday mentioned it will settle for the choice supplied by the Department of Telecommunications (DoT) to transform curiosity on deferred spectrum public sale funds and adjusted gross revenues (AGR) to fairness.
    In its launch to the exchanges, Vi mentioned the online current worth of curiosity associated to spectrum public sale dues and AGR would come to round Rs 16,000 crore. Since the common worth of Vi’s shares on August 14, 2021, which the Supreme Court determined could be the deadline, was beneath par worth, the corporate would situation shares to the Government at par worth of Rs 10 per share.
    As a consequence, the Government would find yourself proudly owning 35.8% of complete excellent shares of the corporate whereas the shareholding of present promoters, Vodafone Group and Aditya Birla Group, would fall to twenty-eight.5 per cent and 17.8 per cent, respectively.
    Currently, Vodafone Group owns near 45 per cent of Vodafone Idea, whereas Aditya Birla Group owns roughly 28 per cent stake.
    By one other decision, the present promoters additionally agreed to amend the shareholder settlement and introduced down the minimal qualifying shareholding threshold from 21 per cent to 13 per cent.
    This signifies that each Vodafone Group and Aditya Birla Group will proceed to carry rights to make essential choices in regards to the firm, resembling appointment of administrators and different key officers. It just isn’t clear but if the DoT, which can develop into the most important shareholder, will get the facility to nominate executives to the Vi board.
    The choice to convert curiosity on deferred spectrum public sale funds and AGR dues was part of the telecommunications reform package deal authorised by the Union Cabinet final September. One of the most important reforms, which geared toward assuaging the ache of the sector and offering instant aid to debt-laden corporations, was the choice to supply a four-year moratorium on cost of all dues arising as a result of Supreme Court’s September 1, 2020, order on AGR.
    This meant that telecom corporations may decide to pay the principal, the curiosity, and all different penalties, as determined by the highest courtroom, after 4 years, as a substitute of instantly. As a one-time alternative, the Government additionally gave telecom service suppliers the choice to transform the curiosity on this deferred cost into fairness on the finish of the four-year interval.
    Among the non-public service suppliers with main deferred spectrum public sale and AGR dues, Bharti Airtel has opted to not take the interest-to-equity route even because it has opted for the four-year moratorium. Reliance Jio Infocomm had in October knowledgeable the DoT that it will not go for the four-year moratorium altogether.

    Other than these two, Tata Teleservices (Maharashtra) additionally knowledgeable the exchanges on Tuesday that it will go for the interest-to-equity conversion, which might find yourself giving the Government 9.5 per cent of the full excellent shares of the corporate.
    Vi, which is reeling beneath debt in extra of Rs 2 lakh crore, has been seeking to elevate funds from traders for fairly a while. The Government’s provide of deferred cost of AGR dues got here as a significant breather for Vi, which owed the DoT greater than Rs 58,000 crore on this class alone.
    With Vi choosing conversion of its curiosity to fairness, it’s prone to release the corporate’s funds for enlargement. The firm will now look to take a position the funds made out there into constructing long-term capabilities and put money into newer applied sciences resembling 5G.
    Most analysts imagine that regardless of all these measures, the important thing to Vi’s survival could be its means to boost recent funds within the close to time period to fulfill money circulation wants.
    In a report, Credit Suisse mentioned that solely a considerable enchancment within the working efficiency would assist Vi “come out of this precarious situation”, and added that it had not “seen enough evidence for the sustained operational improvement”.

    Some analysts imagine that the regulatory pressures on Vi may ease now because the Government comes on board as a majority stakeholder, whereas additionally opening the channel for higher regulatory measures.
    “Bharti (Airtel) and (Reliance) Jio will need to be careful to not offend the Government with fierce promotions that undermine Vi. Better to compete on quality of service than price. The Government as owner of a large portion of the industry will be getting more feedback on the economic impact of its policies, and will probably be more sensitive to policy impact on operators,” mentioned Deutsche Bank Research in a observe.
    Shares of Vi closed the day 20.5 per cent decrease at Rs 11.80.