Vodafone Idea Ltd Share Price – NSE  / BSE

Telecomm-Service, Small Cap

Vodafone Idea has allotted 1,69,32,18,361 equity shares of face value of Rs. 10/- each at an issue price of Rs. 11.28 per equity share (including a premium of Rs. 1.28 per equity share), to Omega Telecom Holdings (1,08,45,94,607 equity shares) and Usha Martin Telematics (60,86,23,754 equity shares), promoters of the Company, aggregating to Rs. 1909.95 crore, on a preferential basis.

Consequent to the aforesaid allotment of equity shares, the paid-up equity share capital of the Company stands increased to Rs 7,13,93,03,50,010 comprising of 71,39,30,35,001 equity shares of the face value of Rs. 10/- each.

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The key equity indices continued to trade with significant losses in the mid-afternoon trade. The Nifty slipped below the 23,650 after hitting the day's high of 23,915.35 in the early afternoon trade. PSU bank shares extended losses for the second consecutive trading session.

At 13:29 IST, the barometer index, the S&P BSE Sensex, dropped 569.29 points or 0.72% to 78,129.78. The Nifty 50 index fell 178 points or 0.75% to 23,635.40.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index added 0.75% and the S&P BSE Small-Cap index rose 0.90%.

The market breadth was weak. On the BSE, 1,311 shares rose and 2,757 shares fell. A total of 160 shares were unchanged.

Buzzing Index:

The Nifty PSU bank index fell 1.16% to 6,494.35. The index slipped 2.05% in two consecutive trading sessions.

Indian Bank (down 2.1%), Bank of Maharashtra (down 1.65%), Bank of Baroda (down 1.64%), Bank of India (down 1.55%), Canara Bank (down 1.16%), State Bank of India (down 1.06%), UCO Bank (down 0.88%), Indian Overseas Bank (down 0.64%), Central Bank of India (down 0.62%) and Punjab National Bank (down 0.35%) declined.

Numbers to Track:

The yield on India's 10-year benchmark federal paper rose 1.64% to 6.898 as compared with the previous close of 6.787.

In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 85.5675, compared with its close of 85.4875 during the previous trading session.

MCX Gold futures for the 5 December 2024 settlement fell 0.10% to Rs 76,470.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.04% to 108.04.

The United States 10-year bond yield shed 0.50% to 4.596.

In the commodities market, Brent crude for the February 2025 settlement declined 19 cents or 0.26% to $73.98 a barrel.

Stocks in Spotlight:

Vodafone Idea Limited (VIL) surged 2.95%, following the government's decision to waive off-bank guarantees for spectrum acquired in past auctions.

Gujarat Fluorochemicals slipped 5.01% after the company reported an incident at its CMS-1 plant in Dahej, Gujarat, on December 28, 2024, which was immediately isolated but temporarily disrupted operation.

Sharika Enterprises hit an upper circuit of 5% after the company received purchase orders worth more than Rs 8 crore from JSW Renew Energy entities for delivering high-quality products and services.

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The Department of Telecommunications (DoT) announced on December 27th that it would no longer require telecom operators to submit financial bank guarantees for spectrum acquired in auctions held in 2012, 2014, 2015, 2016, and 2021, subject to certain conditions.  

This move builds upon the 2021 telecom reform package, which already eliminated the need for bank guarantees in future spectrum auctions. The latest decision extends this benefit to past acquisitions.  

Prior to this waiver, VIL was required to maintain bank guarantees amounting to approximately Rs 24,800 crore as collateral against its spectrum installments. While most past auctions are now exempt from this requirement, a minor one-time shortfall may be applicable for the 2015 auction. VIL is currently in discussions with the DoT to determine the final amount of this shortfall.  

This government action demonstrates continued support for the Indian telecom sector, aiming to facilitate industry growth and development.

Vodafone Idea, a joint venture between the Aditya Birla Group and the Vodafone Group, is a major telecom player in India. It offers voice and data services across 2G, 3G, and 4G networks nationwide. The company possesses a significant spectrum portfolio, including 5G spectrum in key bands.

The telecom service provider's consolidated net loss narrowed to Rs 7,175.9 crore in Q2 FY25 compared with net loss of Rs 8,737.9 crore in Q2 FY24. Revenue from operations rose 2.01% YoY to Rs 10,932.2 crore in Q2 September 2024.

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Vodafone Idea announced that an Extra Ordinary General Meeting (EGM) of the Company will be held on 7 January 2025.

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