Relief for Vodafone Idea! Promoter-led funding will soon be available in the company, sources say; store 5% – What investors need to know


In apparently positive news for Vodafone Idea investors, Zee Business Special Correspondent Chetan Bhutani, citing sources, mentioned that Vodafone Plc is considering investing Rs 5,000-7,000 crore in its Indian telecommunications joint venture with Birla. Group.

According to Bhutani, according to sources, Vodafone Plc had started talks with the Ministry of Telecommunications (DoT, Ministry of Industry Promotion and Domestic Trade and Ministry of Finance immediately after the announcement of government relief measures for the telecommunications sector.

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The discussion between Vodafone Plc and the government focused on how these reforms could be harnessed and implemented for maximum benefit, the special envoy said.

Lately, the government has also increased FDI (foreign direct investment) from 49 percent to 100 percent through automatic channels. In this regard, Dot and DPIIT have given a positive affirmation to Vodafone Plc to invest and take stakes through the automatic channel of FDI, add the sources.

Vodafone Idea JV represents 72 percent of the combined shares of the two companies, Vodafone holds 53.5 percent and Idea 18.48 percent of the shares of the company. This promoter-led financing by Vodafone Plc is expected to take place within 1 to 2 months.

Mentioning this as good news for the company, Zee Business editor-in-chief Anil Singhvi explains that the company is poised to make it big, as management in an exclusive interview with the editor has shown confidence to grow, expand, expand and keep the business afloat.

In addition, in a seemingly important statement, Vodafone Idea management said, the government has done what it can for the telecommunications sector and now it is our turn and our turn to use this opportunity appropriately. .

Singhvi mentions two important triggers – the fundraising plan and the tariff hike – would only bring back growth in the telecommunications industry. He says the days of cheap fares are over and this increase in plans would ultimately be successful for Bharti Airtel, Vodafone Idea and Reliance Jio.

Technical analyst Kunal Saraogi says the bad days for stocks are over when it comes to charts, and the meter is entering new territory where growth of Rs 13.5-14 per action levels target could be. soon reached. He adds that the script shows an ascending triangle forming on the charts and it also gave a breakout of Rs 11 per share today.

The stock on Thursday gained more than 5% to Rs 11.83 per share on intraday BSE today. He’s gained nearly 12 percent in the last five sessions on BSE.



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