Revenue from operations rose 2.01% year on year (YoY) to Rs 10,932.2 crore in the quarter ended 30 September 2024. The company reported a pre-tax loss of Rs 7,168.1 crore in second quarter of FY25 as against a pre-tax loss of Rs 7,920.2 crore posted in same quarter previous fiscal. EBITDA for the quarter was at Rs 4,549.8 crore, up 6.23% from Rs 4,282.8 crore recorded in Q2 FY24. EBITDA margin improved to 41.6% in September 2024 quarter as compared to 40% registered in the same period a year ago. The telecom operator said that the subscriber base, including 4G subscriber, was impacted by the recent tariff hikes. The 4G subscriber base stood at 125.9 million at the end of Q2 FY25 compared with 126.7 million in Q2 FY24. The total subscriber base stood at 205 million during the quarter as against 219.8 million in similar quarter last year. Average revenue per user (ARPU) improved to Rs 156, up 9.86% on YoY basis as against Rs 142 in Q1 FY24. Capex spend for the quarter stood at Rs 136 crore. The debt from banks and financial institutions reduced by Rs 4,580 crore during the last one year (was at Rs 7,830 crore in Q2 FY24) and stood at Rs 3,250 crore. The cash and bank balance stood at Rs 13,620 crore as of 30 September 2024. The payment obligations to the Government stood at Rs 2,12,260 crore as of 30 September 2024 including deferred spectrum payment obligations of Rs 1,41,940 crore and AGR liability of Rs 70,320 crore. Akshaya Moondra, CEO of Vodafone Idea, said, 'Post the recent equity raise, we are in the process of expanding our 4G coverage and capacity as well as launch of 5G services. Some capex has already been ordered and under execution, basis which we expect approximately 15% increase in our data capacity and an increase in 4G population coverage by around 16 million by end September 24. Our current capex needs are being met out of equity funds. We are engaged with our lenders for tying up debt funding towards the execution of our network expansion with a planned capex of Rs 500 to 550 billion over next 3 years. The recent tariff intervention is a step in the right direction for the industry to move towards better return on investment, as also to improve cash generation to support the large investment requirements. However, further tariff rationalization is needed for the industry to fully cover its cost of capital.' Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is amongst India's leading telecom service provider. The company provides pan India voice and data services across 2G, 3G and 4G platforms. The company holds large spectrum portfolio including mid band 5G spectrum in 17 circles and mmWave 5G spectrum in 16 circles. Powered by Capital Market - Live

Vodafone Idea will hold a meeting of the Board of Directors of the Company on 13 November 2024Powered by Capital Market - Live

The board of Vodafone Idea through a circular resolution has taken note of resignation of Mr. Sateesh Kamath, existing Nominee Director of Vodafone Group (one of the Promoter shareholders of the Company) from the Board of the Company, with effect from October 30, 2024, due to other professional commitments, and the appointment of Mr. Selcuk Karacay as an Additional Director (Non-Executive and Non-Independent Director), liable to retire by rotation, on the Board of the Company with effect from October 30, 2024, subject to approval of the members at the ensuing General Meeting of the Company.Powered by Capital Market - Live

The deal marks the first step towards the rollout of the company's transformative three-year capex plan of $6.6 billion (Rs 55,000 crore). The capex programme is directed towards expanding the 4G population coverage from 1.03 billion to 1.2 billion, launching 5G in key markets and capacity expansion in line with data growth. The company has continued with its existing long-term partners Nokia and Ericsson and also onboarded Samsung as a new partner. These contracts will allow the company to quickly capitalize on the latest equipment to offer enhanced customer experience. Further, the learnings and insights obtained by the vendors in the Indian market over the last two years, will enable the company to embark on a more flexible and modular rollout plan by customising the services for all advanced technologies (4G & 5G). In addition, the new equipment will also lead to efficiency gains in energy and thus lower operating costs. The supplies against these new long-term awards will start in the coming quarter. The capex is currently being funded out of the equity raise. For the long-term capex, the company is in advanced stage of discussions with its existing and new lenders to tie up Rs 250 billion of funded and Rs 100 billion of non-fund-based facilities. Akshaya Moondra, CEO, Vodafone Idea, said: 'We are committed to invest in emerging network technologies to provide a best-in-class experience to our customers. We have kickstarted the investment cycle. We are on our journey of VIL 2.0 and from hereon, VIL will stage a smart turnaround to effectively participate in the industry growth opportunities. Nokia and Ericsson have been our partners since our inception and this marks another milestone in that continuing partnership. We are pleased to start our new partnership with Samsung. We look forward to work closely with all our partners as we move into the 5G era.' Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is amongst India's leading telecom service provider. The company provides pan India voice and data services across 2G, 3G and 4G platforms. The company holds large spectrum portfolio including mid band 5G spectrum in 17 circles and mmWave 5G spectrum in 16 circles. The telecom service provider's consolidated net loss narrowed to Rs 6,432.1 crore in Q1 FY25 as compared with Rs 7,840 crore reported in Q1 FY24. Revenue from operations decline marginally to Rs 10,508.3 crore in Q1 FY25 as against Rs 10,655.5 crore recorded in the corresponding quarter previous year. Powered by Capital Market - Live

The key equity indices traded with modest gains in afternoon trade. The Nifty traded above 25,850 mark. Barring IT index all the other sectoral indices on the NSE were traded in green. At 13:30 IST, the barometer index, the S&P BSE Sensex, added 225.66 points or 0.27% to 84,772.73. The Nifty 50 index rose 102.50 points or 0.40% to 25,893.45. The Sensex and Nifty clocked an all-time high of 84,881.73 and 25,925.80, respectively in morning trade. In the broader market, the S&P BSE Mid-Cap index added 0.48% and the S&P BSE Small-Cap index gained 0.71%. The market breadth was strong. On the BSE, 2,376 shares rose and 1,586 shares fell. A total of 160 shares were unchanged. Economy : The headline HSBC Flash India Composite Output Index dipped to 59.3 in September from 60.7 in August. The index pointed to another rapid monthly increase in business activity, albeit one that was the least pronounced in 2024 so far. Softer expansions were seen across both the manufacturing and services sectors. The HSBC Flash India Manufacturing PMI posted 56.7 in September, down from 57.5 in August. The reading signaled a further marked strengthening in business conditions for goods producers, but the rate of improvement was the softest since January. Further, India's forex reserves rose by $223 million to a new all-time high of $689.458 billion for the week ended on September 13, according to the Reserve Bank data released on Friday. The overall forex kitty had jumped by $5.248 billion to a high of $689.235 billion for the previous reporting week ended on September 6. The foreign currency assets decreased by $515 million to $603.629 billion, the data showed. Gold reserves increased by $899 million to $62.887 billion during the week, the RBI said. The Special Drawing Rights (SDRs) dropped by $53 million to $18.419 billion, the apex bank said. India's reserve position with the IMF declined by $108 million to $4.523 billion in the reporting week, the apex bank data showed. Gainers & Losers: Oil and Natural Gas Corporation (ONGC) (up 3.11%), State Bank of India (up 2.95%), Mahindra and Mahindra (up 2.74%), Bajaj Auto (up 2.41%) and HDFC Life Insurance Company (up 2.03%) were major Nifty gainers. Eicher Motors (down 2.09%), ICICI Bank (down 1.42%), Tech Mahindra (down 1.40%), Infosys (down 1.28%) and Indusind Bank (down 1.17%) were major Nifty losers. Stocks in Spotlight: Vodafone Idea advanced 5.06% after the company has signed a $3.6 billion deal with Nokia, Ericsson and Samsung for the supply of network equipment over a period of three years. This is the first step in the company's Rs 55,000-crore capex plan. Adani Total Gas jumped 5.92% after the firm secured funding of $375 million from international lenders to expand its capacity its city gas distribution network. Mankind Pharma advanced 3.49% after the company's board approved to raise funds aggregating to Rs 10,000 crore through non convertible debentures (NCDs) and commercial papers (CPs) on private placement basis. Bharat Heavy Electricals (BHEL) advanced 2.91% after the company has received an order worth over Rs 6,100 crore from NTPC to set up supercritical thermal power project in Chhattisgarh. Glenmark Pharmaceuticals rallied 4.83% after the pharma major announced that its formulation manufacturing facility located in Chhatrapati Sambhaji Nagar, Maharashtra, has successfully cleared the USFDA inspection with zero observations. JSW Infrastructure gained 3.09% after the company has taken delivery of a new, dredger from Netherlands based IHC Dredging to support its expansion plans. Inox Wind (IWL) rose 0.57%. The company said that it has signed a consortium agreement with a group of 10 banks, led by ICICI Bank along with a host of marquee private and foreign banks, for obtaining credit limits of nearly Rs 2,200 crore. Doms Industries rose 0.17%. The company said that it has acquired 51.77% equity stake in Uniclan Healthcare to expand its distribution network. The company has acquired 7,116,080 equity shares of Uniclan for a total consideration of Rs 54.88 crore. Global Markets: Most European market traded higher on Monday despite France's PMI data stood at 47.4 in September down from 53.1 in August, HCOB data showed and German business activity also contracted in September, with the HCOB flash composite PMI falling from 48.4 in August to 47.2 in September, a seven-month low. Asian stocks traded higher as Investors digested monetary policy decisions from Japan and China as well as the U.S. Federal Reserve's sharp rate cut last week. The People's Bank of China (PBOC) loosened monetary conditions by reducing its 14-day reverse repo rate. While this move provided a positive impetus, gains were tempered by the PBOC's recent decision to maintain its benchmark loan prime rate. Regional trading activity was subdued due to a market holiday in Japan. However, Asian markets were building on strong gains from the previous week, following the Federal Reserve's interest rate cut and the initiation of an easing cycle. Investors were eagerly awaiting key economic indicators and statements from U.S. officials for further insights into the Fed's monetary policy path. On Wall Street, the Dow Jones Industrial Average closed at a new record high on Friday, despite a mixed performance overall. The 30-stock Dow inched up 0.09%, for a new closing high of 42,063.36. The S&P 500 pulled back 0.19%, and the Nasdaq Composite dropped 0.36%. Investors weighed potential risks to economic growth and priced in more aggressive rate cuts than indicated by the Fed's dot plot projections.Powered by Capital Market - Live

The key equity indices traded with modest gains in early trade. The Nifty traded near the 25,900 level. All the sectoral indices on NSE were in the green with PSU bank, pharma and auto shares gaining the most. At 09:30 IST, the barometer index, the S&P BSE Sensex, added 258.28 points or 0.30% to 84,797.65. The Nifty 50 index rose 105.35 points or 0.41% to 25,896.30. The Sensex and Nifty clocked an all-time high of 84,862.89 and 25,911.60, respectively in early trade. In the broader market, the S&P BSE Mid-Cap index added 0.24% and the S&P BSE Small-Cap index rose 0.61%. The market breadth was strong. On the BSE, 2,175 shares rose and 954 shares fell. A total of 142 shares were unchanged. Foreign portfolio investors (FPIs) bought shares worth Rs 14,064.05 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 4,427.08 crore in the Indian equity market on 20 September 2024, provisional data showed. Economy: India's forex reserves rose by USD 223 million to a new all-time high of USD 689.458 billion for the week ended on September 13, according to the Reserve Bank data released on Friday. The overall forex kitty had jumped by USD 5.248 billion to a high of USD 689.235 billion for the previous reporting week ended on September 6. The foreign currency assets decreased by USD 515 million to USD 603.629 billion, the data showed. Gold reserves increased by USD 899 million to USD 62.887 billion during the week, the RBI said. The Special Drawing Rights (SDRs) dropped by USD 53 million to USD 18.419 billion, the apex bank said. India's reserve position with the IMF declined by USD 108 million to USD 4.523 billion in the reporting week, the apex bank data showed. Stocks in Spotlight: Vodafone Idea surged 8.59% after the company has signed a $3.6 billion deal with Nokia, Ericsson and Samsung for the supply of network equipment over a period of three years. This is the first step in the company's Rs 55,000-crore capex plan. Adani Total Gas jumped 5.34% after the firm secured funding of $375 million from international lenders to expand its capacity its city gas distribution network. Mankind Pharma advanced 2.59% after the company's board approved to raise funds aggregating to Rs 10,000 crore through non convertible debentures (NCDs) and commercial papers (CPs) on private placement basis. Numbers to Track: The yield on India's 10-year benchmark federal paper advanced 1.69% to 6.876 as compared with previous close 6.761. In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 83.4600, compared with its close of 83.5200 during the previous trading session. MCX Gold futures for 4 October 2024 settlement rose 0.24% to Rs 74,999. The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 100.78. The United States 10-year bond yield grew 0.71% to 3.754. In the commodities market, Brent crude for November 2024 settlement gained 54 cents or 0.72% to $75.03 a barrel. Global Markets: Asian markets traded higher on Monday, buoyed by continued optimism surrounding recent interest rate cuts. The People's Bank of China (PBOC) loosened monetary conditions by reducing its 14-day reverse repo rate. While this move provided a positive impetus, gains were tempered by the PBOC's recent decision to maintain its benchmark loan prime rate. Regional trading activity was subdued due to a market holiday in Japan. However, Asian markets were building on strong gains from the previous week, following the Federal Reserve's interest rate cut and the initiation of an easing cycle. Investors were eagerly awaiting key economic indicators and statements from U.S. officials for further insights into the Fed's monetary policy path. On Wall Street, the Dow Jones Industrial Average closed at a new record high on Friday, despite a mixed performance overall. The 30-stock Dow inched up 0.09%, for a new closing high of 42,063.36. The S&P 500 pulled back 0.19%, and the Nasdaq Composite dropped 0.36%. Investors weighed potential risks to economic growth and priced in more aggressive rate cuts than indicated by the Fed's dot plot projections. Powered by Capital Market - Live

Securities in F&O ban: Aarti Industries, Biocon, Chambal Fertiliser and Chemicals, Gujarat National fertilizers and Chemicals (GNFC), Granules India, LIC Housing Finance, National Aluminium, Oracle Financial Services, Punjab National Bank (PNB), RBL Bank, SAIL. Stocks to watch: Vodafone Idea has signed a $3.6 billion deal with Nokia, Ericsson and Samsung for the supply of network equipment over a period of three years. This is the first step in the company's Rs 55,000-crore capex plan. Adani Total Gas secured funding of $375 million from international lenders to expand its capacity its city gas distribution network. Mankind Pharma's board approved to raise funds aggregating to Rs 10,000 crore through non convertible debentures (NCDs) and commercial papers (CPs) on private placement basis. Bharat Heavy Electricals (BHEL) has received an order worth over Rs 6,100 crore from NTPC to set up supercritical thermal power project in Chhattisgarh. Aarti Drugs announced that the United States Food and Drug Administration (USFDA) inspected its active pharmaceutical ingredient (API) manufacturing facility located in MIDC, Tarapur, Maharashtra and closed the inspection with seven observations. Tata Steel has successfully commissioned Phase II of blast furnace located at Kalinganagar, Odisha. HDFC Bank said that the board of its subsidiary HDB Financial Services has approved an initial public offering of equity shares of face value of Rs 10 each. The IPO would comprise of a fresh issue of equity shares aggregating up to Rs 2,500 crore and an offer for sale of equity shares by existing and eligible shareholders of HDB Financial, who may offer to tender their equity shares. JM Financial board approved appointment of Vishal Kampani as vice chairman and managing director (MD) for 5 years effective from 1 October 2024 and approved re-appointment of AD Patel as MD for 3 years effective from 1 October 2024.Powered by Capital Market - Live

The Nifty September 2024 futures closed at 25,506, a premium of 90.2 points compared with the Nifty's closing 25,415.80 in the cash market. In the cash market, the Nifty 50 added 38.25 points or 0.15% to 25,415.80. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, tumbled 6.74% to 12.47. Vodafone Idea, HDFC Bank and Reliance Industries were the top traded individual stock futures contracts in F&O segment of NSE. The September 2024 F&O contracts will expire on 26 September 2024. Powered by Capital Market - Live

Vodafone Idea (-21.30%) and Indus Towers (down 10.03%) slumped. However, Bharti Airtel was up 1% to hit a record high of Rs 1711 today. The court decision has dealt a significant blow to the struggling telecom sector. Vodafone Idea, which had previously reported an AGR liability of approximately Rs 70,300 crore, including accumulated interest, had argued for a reassessment of the amount and a reduction or waiver of the penalty. However, the Supreme Court, in its verdict, found no merit in the telecom companies' claims and dismissed their petitions. The apex court's ruling has put immense pressure on Vodafone Idea, which is already grappling with a gross debt of Rs 2.1 lakh crore. Of this, only a small portion is owed to banks and financial institutions, while the majority is payable to the government. The government dues, currently under moratorium until October 2025, will pose a substantial challenge to the telecom operator once the moratorium expires. The decision has also impacted the shares of Indus Towers, which offers passive infrastructure services to mobile network operators and other wireless services providers. The Supreme Court's rejection of the telecom companies' plea further exacerbates the challenges faced by the Indian telecom sector, which has been struggling with intense competition and high spectrum costs. Powered by Capital Market - Live

Indus Towers Ltd, Chambal Fertilisers & Chemicals Ltd, IIFL Finance Ltd and Nava Ltd are among the other losers in the BSE's 'A' group today, 19 September 2024.Vodafone Idea Ltd lost 19.05% to Rs 10.45 at 14:48 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 1958.48 lakh shares were traded on the counter so far as against the average daily volumes of 370.62 lakh shares in the past one month.Indus Towers Ltd crashed 11.24% to Rs 379.5. The stock was the second biggest loser in 'A' group.On the BSE, 12.85 lakh shares were traded on the counter so far as against the average daily volumes of 3.15 lakh shares in the past one month.Chambal Fertilisers & Chemicals Ltd tumbled 8.62% to Rs 475.85. The stock was the third biggest loser in 'A' group.On the BSE, 2.48 lakh shares were traded on the counter so far as against the average daily volumes of 1.32 lakh shares in the past one month.IIFL Finance Ltd dropped 8.46% to Rs 484.05. The stock was the fourth biggest loser in 'A' group.On the BSE, 3.73 lakh shares were traded on the counter so far as against the average daily volumes of 1.19 lakh shares in the past one month.Nava Ltd fell 7.96% to Rs 1212.35. The stock was the fifth biggest loser in 'A' group.On the BSE, 1.01 lakh shares were traded on the counter so far as against the average daily volumes of 29177 shares in the past one month.Powered by Capital Market - Live