Vodaphone Idea

The company's share price has risen from Rs 9.6 per share in early November to Rs 14.6 at Monday's close. Notably, a larg part of the rise was seen last week. In the week that ended on Friday (December 3), the telecom operator's share price rose over 30 per cent. It is important to note that the recent sharp rise in share prices of the company comes at a time when major Indian telecom operators

The revised tariffs will come into effect from December 1, the telecom major said. The announcement by Reliance Jio comes few days after Vodafone Idea and Bharti Airtel announced a hike in their respective prepaid tariffs. "The new unlimited plans will go-live on 1st December 2021 and can be opted from all existing touchpoints and channels," Jio said.

Reliance Jio and Bharti Airtel gained subscribers in the month under review. The data showed that Reliance Jio added over 6.49 lakh subscribers in August, taking its overall tally to 44.38 crore. Bharti Airtel gained over 1.38 lakh subscribers to take its overall subscriber base to 35.41 crore users.

According to people in the know, the Cabinet has approved the moratorium of four years for AGR dues. The details are expected to be spelt out by Union Telecom Minister Ashwini Vaishnaw later in the afternoon. The move will be most beneficial for the stress-ridden Vodafone Idea. Shares of Vodafone Idea surged over 2 per cent on hopes of the relief package, while those of Bharti Airtel soared over 5 per cent.

Officials told IANS that this was the first case filed under the Act, and it is for the first time when action has been taken by an adjudicating officer who instructed the telecom player to pay the penalty amount to the victim within the stipulated time otherwise interest will be levied.

"Two months, shifted from @ViCustomerCare to another provider. Have paid all outstandings but am hounded daily for random new charges. This is harassment & I intent to take this up with @TRAI and Telecom Ministry. Is this common? Is it only with Voda-Idea or a general problem," he asked in a tweet.

An ICRA report said that Vodafone Idea Ltd (VIL) has been under financial stress as reflected by mounting losses and burgeoning debt levels, which is likely to impact its financial lenders as well as the government, apart from having a bearing on its employees, its subscribers and associated industries, most prominently towers.

The meet comes at a time when the government is in talks to come up with some relief measures for the stressed telecom sector as a whole. According to people in the know, during the meeting on Wednesday, Birla and Vaishnav discussed about the health of the sector and the urgent need for government intervention. On August 4, the board of Vodafone Idea accepted the request of Birla to step down as the Non-Executive Director and Non-Executive Chairman of the Board.

Its shares have been tumbling for the past three days after Birla offered to hand over his stake in the debt-ridden company to government entities in a bid to keep the company operational. Around 11.50 a.m., its shares on the BSE were trading at Rs 5.33, lower by 11.61 per cent from its previous close. It touched a new 52-week low of Rs 4.55 per share.

In a regulatory filing, the company said that the company has accepted the request of Birla to step down. "The Board of Directors of Vodafone Idea Limited, at its meeting held today, have accepted the request of Kumar Mangalam Birla to step down as Non-Executive Director and Non-Executive Chairman of the Board with effect from close of business hours on 4th August, 2021," it said.