Tag: Vodafone-Idea

Here’s why Airtel, Vodafone Idea are asking subscribers to do mandatory recharge

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Telecom Regulatory Authority of India (Trai) has directed operators such as Bharti Airtel and Vodafone Idea not to immediately disconnect services of customers with “sufficient” pre-paid balance as it took strong note of telcos asking such users to go in for mandatory monthly recharge plan.

In a bid to boost their revenue, Airtel and Vodafone Idea have announced minimum monthly recharge plans starting from Rs 35.

These are additional charges that the companies are asking despite having a minimum required balance on subscribers account, turning their lifetime SIM connections to one with a limited validity.

According to Airtel, the users have to recharge a minimum of Rs 35 to keep their connection active. If a user failed to do so, their connection will be barred from making calls. And if a minimum recharge is not made within 15 days, it will also disconnect the incoming facility.

However, the remaining balance left on their SIM, if any, will still remain and the operator will deduct Rs 20 every three months to keep the connection active. The company is also providing a grace period of 90 days before a SIM card will be deactivated. A user can recharge with Rs 35 anytime to re-activate the SIM.

Both Airtel and Vodafone Idea have been sending text messages to their subscribers asking them to mandatorily recharge their accounts.

The move is to ensure that revenue is also coming from the users who do not perform any regular recharges. This is quite common with people who usually keep a secondary phone or number just for incoming calls.

The telecom regulator wrote to both companies saying,”Trai has asked operators to duly inform subscribers within three days in a clear and transparent manner the date on which the current validity of an existing plan would expire and the manner in which the subscriber can opt for available plans including minimum recharge plan using subscriber’s available prepaid account balance. Till such time operators should not discontinue services of such customers who have balance in prepaid accounts equal to minimum recharge amount.”

Before Reliance Jio entered the telecom market, it was a happy story for every other network. Since its launch in September 2016, the competition brewed strong among other telecom companies as Jio introduced free services and cheap prepaid plans.

In order to stay in the race, Airtel and Vodafone Idea offer several discounts on their services. However, this resulted in low revenue and quarterly losses.

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

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Vodafone Idea readies to fight rivals in the telecom sector, says report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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India’s largest telecom firm Vodafone-Idea is looking to retain the best aspects of both Vodafone and Idea infrastructure to compete with rivals in the market, reported Business Standard.

The company also plans to enhance consumer benefits while reducing operational expenses (opex), the BS report said.

“Ultimately the amount of spectrum determines the kind of customer experience we can provide. When we look at India through the prism of districts, we see higher revenues from one out of four quadrants. Almost all geographies have both networks and we plan to pick up better of the two networks across locations,” CEO Balesh Sharma was quoted as saying in the report.

This, according to the report, indicates that the combined entity would embark on tower network rationalisation across geographies.

As per the report, the management plans to invest Rs 27,000 crore in 2019-20 along with the savings of around Rs 14,000 crore. In addition, the company will also look to raise the minimum recharge tariffs to Rs 35 per month for integrated data and voice services to improve profitability, said the report.

The new strategy from Vodafone Idea comes at a time when its rival Jio is aggressively making acquisitions in the content space, including stakes in Saavn and Balaji, while Airtel has partnered Amazon Prime and Hotstar, the report added.

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market upside capped till state election results, says Motilal Oswal’s Rajat Rajgarhia

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Rajat Rajgarhia, MD – Institutional Equities of Motilal Oswal Securities, spoke to CNBC-TV18 about whether the current stock rally is a counter trend rally or a new trend.

“Right now the market is oscillating between the two near-term trends; one is the sudden drop in oil prices, which brings moment back to India and second is elections. So over the next few weeks these two trends will largely determine the market and therefore the range of the market could be a big range than earlier thought,” Rajgarhia said on Thursday.

“The markets have rallied 6-7 percent but the upside will be capped till state selection outcome,” said Rajgarhia.

Talking about the earnings growth, he said, “For the last 5-6 years, September-October-November have started fearing this period because four years back during this period there was collapse in oil price, then there was  demonetisation and this year NBFC issues and oil surge.”

“From an earnings point of view, right now we are at sub 4 percent corporate profit to GDP, which is at a very low point and many sectors are making negative contribution to earnings pie,” he said, adding that any earnings recovery would only be from costs coming down in terms of currency stabilizing and global commodities correcting.

Sector specific, he is upbeat on the telecom space, especially Vodafone-Idea. According to Rajgarhia, “The sector has seen turbulent times over the last decade but the worst of the disruption in the space is likely behind us now.”

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Top stocks to watch out for on November 22: Jet Airways, Maruti Suzuki, RIL

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian market is set for a positive opening on Thursday as the Asian markets stepped ahead cautiously after oil rebounded from its steep sell-off. However, mixed sentiments among investors maybe seen amid signs of an economic growth slowdown.

At 07.03 AM, SGX Nifty, an early indicator of the Nifty 50’s trend in India, was up 0.15 percent at 10,637, indicating a positive opening for the Indian market.

Here are the top stocks to watch out for in today’s trade:

Maruti Suzuki: The company expects the new Ertiga to clock better sales than the previous model. “The company is ready with the production capacity to meet the demand. Post the opening of the booking, we have received about 10,000 bookings,” said RS Kalsi, executive director – marketing and sales, Maruti Suzuki.

Vodafone Idea: The telecom operator plans to invest Rs 27,000 crore in 2019-20, supported by savings of around Rs 14,000 crore that it expects to come from synergising operations of merged entities, according to a company’s document.

UltraTech Cement: The company on Wednesday said its board has approved a proposal to incorporate Binani Cement Ltd (BCL) as it a wholly-owned subsidiary.

Zee Entertainment: Punit Goenka, CEO of ZEE, told The Economic Times, that his first preference would be for a global company as a strategic investor.

Reliance Industries: RIL-owned Reliance Jio Infocomm will serve the country’s largest and most sought-after accounts in telecom – the railways – from January 1, with officials saying it is likely to slash the national transporter’s phone bills by around 35 percent at least.

Jet Airways: Promoter Naresh Goyal and Etihad are in advanced talks to provide financial support to the struggling airline, sources told CNBC-TV18 on Wednesday. However, the airline clarified the news and said it was ‘speculative in nature’.

Jaypee Infratech: Lenders of debt-ridden Jaypee Infratech will meet on November 27 possibly to discuss the future course of action after interest shown by five companies to take over the real estate firm.

Hero MotoCorp: The company’s Hero Cycles on Wednesday said it has entered into a strategic alliance with Japan’s Yamaha Motor Co Ltd and Mitsui & Co for technology, manufacturing and marketing of electric bicycles.

GAIL: Prime Minister Narendra Modi will launch the 10th bidding round of the City Gas Distribution in which Deoghar, Sheikhpura and Jamui districts will be included within the 50 geographical areas.

IDBI Bank: The bank has informed the centre that it is likely to return to profit by the first quarter of the next fiscal year, The Economic Times reported.

(With inputs from agencies)

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Vodafone Idea plans to invest Rs 27,000 crore in FY20

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The country’s largest telecom operator Vodafone Idea plans to invest Rs 27,000 crore in 2019-20, supported by savings of around Rs 14,000 crore that it expects to come from synergising operations of merged entities, according to a company’s document.

The debt-ridden company has advanced its target date to complete integration of Vodafone and Idea Cellular business to financial year 2021 from fiscal 2023.

“Capex guidance of Rs 270 billion in financial year 2019-20 supported by existing co-located equipment to be redeployed, spectrum consolidation, capex avoidance and efficiencies,” the document said.

The company expects advancing of synergy target by two years will help it improve cash flow to the tune of Rs 8,400 crore and re-deployment of co-located equipments of Vodafone and Idea will help it save Rs 6,200 crore.
The company has chalked out deleveraging plan by raising capital and sell 11.15 percent stake in Indus Towers.

Vodafone Idea estimates that sale of 11.15 percent stake in Indus Towers can realise Rs 5,000 crore, which it will use in lowering debt.

The merged entity’s gross debt as on September 30, 2018 stood at Rs 1,26,100 crore. Around 79 percent debt on the company is net dues for spectrum payment.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Top stocks to watch out for on November 19: Jet Airways, Yes Bank, Vodafone Idea

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian market is set for a positive start on Monday, taking cues from its Asian peers. However, market sentiments may remain mixed as government may move to establish regulations in the Reserve Bank of India’s functioning at today’s meeting.

At 07.01 AM, SGX Nifty, an early indicator of the Nifty 50’s trend in India, was up 0.54 percent to 10,756, indicating a positive opening for the Indian market.

Here are the top stocks to watch out for in today’s trade:

Jet Airways: Tata Group on Friday confirmed its interest in Jet Airways, but said the ongoing discussions on buying stake in debt-laden airline is preliminary and no proposal has been made.

Yes Bank: The bank’s overall long-term rating of ‘ICRA AA+’ is retained by ICRA Ratings.

Vodafone Idea: The company clarified on “Bharti Infratel may buy fibre assets of VIL” saying that the company has not considered any such proposal and it is factually incorrect.

HDFC: Housing finance firm HDFC said on Sunday it has disbursed over Rs 1,100 crore subsidy to over 51,000 customers under the government’s flagship scheme Pradhan Mantri Awas Yojana (PMAY).

Dr Reddy’s Labs: The US FDA has concluded its audit of formulations Srikakulum Plant (SEZ) Unit II, Andhra Pradesh with zero observations.

Infosys: The IT major completed the formation of a joint venture with Temasek, an investment company situated in Singapore.

GHCL: Cyclone ‘Gaja’ has impacted one of the spinning units of the company located at Manapparai and also at the salt works located at Vedaranium in Tamil Nadu which caters to consumer products division. The Manapparai spinning unit was shut down on Friday.

SRF: SRF’s unit in Viralimalai, Tamil Nadu of the technical textiles business (engaged in the manufacturing of belting fabrics) has been damaged by cyclone ‘Gaja.’ The company reported that it has adequate insurance cover for the unit.

Mahindra & Mahindra: M&M’s listed subsidiary EPC Industries has incorporated a subsidiary company namely ”Mahindra Top Greenhouses Private Limited” in India. The joint venture was announced on May 15, 2018.

Siemens: Siemens on Sunday reported more than 55 percent decline in standalone profit to Rs 279.2 crore for the quarter ended on September 30, 2018. The company had reported a net profit of Rs 623.8 crore during the same period a year ago, aided by an exceptional gain of Rs 560.3 crore, according to a BSE filing.

(With inputs from agencies)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

All telecom companies, except Jio, fail in Trai’s call drop test on highway,rail routes

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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All telecom operators, except Reliance Jio, failed to meet call drop benchmark in drive test conducted by sector regulator Trai on different highway and rail routes, a report published on Thursday said. The Telecom Regulatory Authority of India said that independent drive tests through its appointed agency was conducted on eight highways and three rail routes.

Either 3G or 2G network of Bharti Airtel, Vodafone Idea and state-run BSNL failed to meet call drop benchmark on four highway routes and all the three railway routes.

Reliance Jio name did not appear among companies that failed to meet call drop criteria on both the highway and rail routes.

The highways between Asansol to Gaya, Digha to Asansol, Gaya to Danapur, Bengaluru to Murdeshwar, Raipur to Jagdalpur, Dehradun to Nainital, Mount Abu to Jaipur and Sri Nagar to Leh were covered in the test. Railway routes between Allahabad to Gorakhpur, Delhi to Mumbai and Jabalpur to Singrauli were covered.

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Top stocks to watch out for on November 15: Yes Bank, Vodafone Idea, Eicher Motors

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The Indian market is set for a positive start on Thursday, taking cues from its Asian peers as a steep slide in crude oil prices which had chilled investor sentiment, slowed. However, stock market gains in Asia were limited after Wall Street extended their recent decline.

At 07.07 AM, SGX Nifty, an early indicator of the Nifty 50’s trend in India, was up 0.34 percent to 10,637.50, indicating a positive opening for the Indian market.

Here are the top stocks to watch out for in today’s trade:

Yes Bank: Ashok Chawla on Wednesday resigned as non-executive chairman of Yes Bank, the private sector bank said.

Eicher Motors: The company’s subsidiary Royal Enfield on Wednesday launched two new motorcycle models, Interceptor 650 and the Continental GT 650, priced at Rs 2.6 lakhs and Rs 2.65 lakh (both ex-showroom), respectively.

Vodafone Idea: Vodafone Idea Ltd reported a second-quarter loss on Wednesday, in its first quarterly result since Vodafone Plc merged its Indian operations with Idea Cellular in August.

BEML: Bharat Earth Movers Limited (BEML) is likely to open a coach-manufacturing unit in Odisha.

SREI Infrastructure: The company will declare its second-quarter results on Thursday.

United Breweries Ltd: The company on Wednesday posted a 74.52 percent jump in standalone net profit at Rs 163.77 crore for the September quarter, led by volume and pricing growth.

JM Financial: JM Financial Credit Solutions, the non-bank arm of the JM Financial Group, Wednesday said it plans to raise up to Rs 1,250 crore through bonds.

Dena Bank: The bank on Wednesday said it has started an independent internal valuation for the proposed amalgamation with two other state-owned lenders, and the report is likely in the next four-five weeks.

IHCL: The company Wednesday narrowed its consolidated net loss to Rs 38.04 crore during the quarter ended September, against a loss of Rs 51.18 crore in the year-ago period.

NHPC: The company’s board approved a buyback of shares at Rs 28 per share for 21 crore shares.

(With inputs from agencies)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Vodafone Idea shares close with gains ahead of Q2 results

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Shares of Vodafone India ended at Rs 41.40, up by 1.6 percent, ahead of the July-September quarter earnings on Wednesday. The stock ended as the top percentage gainer on BSE Telecom index which rose nearly a percent on Wednesday.

The stock opened with losses at Rs 40.35, from its last close of Rs 40.75. The telco’s stock has been losing for the last three days and has fallen more than 4 percent during the period.

While the stock has recovered from its 52-week low of Rs 32.55 hit on October 8, shares of Vodafone Idea have slumped more than 66 percent from its 52-week high of Rs 118.90 hit on January 5 this year.

The stock traded above 20-day moving average, but lower than 100-day and 200-day moving averages.

Rival Bharti Airtel’s shares settled at Rs 301.15, higher by 1.21 percent, gaining nearly 1.37 in the last three days. The stock touched the day’s high at Rs 311.80, after opening at Rs 300.

Meanwhile, the Sensex ended at 35,142, down by just 2.5 points, while the Nifty gave up the 10,600 mark, settling at 10,576, lower by 6.20 points, or 0.06 percent.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow