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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Vodafone Idea Limited    IDEA   INE669E01016

VODAFONE IDEA LIMITED

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Vodafone Idea rebrands in fight for India's telecom market share

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09/07/2020 | 03:18am EDT

NEW DELHI/BENGALURU, Sept 7 (Reuters) - Debt-ridden Vodafone Idea Ltd said on Monday it is rebranding itself, as the company, which has been losing customers, looks to change its image three years after announcing the merger of two of India's biggest telecom service providers.

The company's shares, which rose 10% in morning trade, were up 3.3% at 0750 GMT.

The loss-making telecom carrier on Friday approved fundraising of up to 250 billion rupees at a time it owes roughly 500 billion rupees ($6.81 billion) in dues to the government. The dues, according to an Indian Supreme Court order, will have to be paid over a ten-year period.

Vodafone Idea, a joint venture between Britain's Vodafone Group and India's Idea Cellular, said it will go by the brand name "Vi".

"Vi's focus will be to deliver ... a superior network experience, better customer service and leading products and services," Vodafone Group Chief Executive Officer Nick Read said.

On a media call before the announcement, Vodafone Idea CEO Ravinder Takkar said the company would make its next payment of government dues on March 2022, and was contemplating raising tariffs.

Telecom carriers in the country have already raised some subscription tariffs as they look for ways to pay down government levies.

Vodafone Idea lost 4.7 million customers in May alone, while market leader Reliance Jio added 3.7 million. The Indian unit of Vodafone had gross debt of 1.19 trillion Indian rupees as of June end.

A newspaper report last week said Verizon Communications Inc and Amazon.com Inc may invest more than $4 billion for a stake in Vodafone Idea, but the telecom company said on Thursday its board had no investment proposal to consider from them. (Reporting by Sanklap Phartiyal in New Delhi, Euan Rocha in Mumbai, Nivedita Bhattacharjee in Bengaluru; Editing by Shounak Dasgupta)


Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -1.00% 3184.94 Delayed Quote.72.36%
VODAFONE GROUP PLC 1.50% 108.28 Delayed Quote.-27.39%
VODAFONE IDEA LIMITED 3.49% 8.95 Delayed Quote.39.84%
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Financials
Sales 2021 448 B 6 085 M 6 085 M
Net income 2021 -351 149 M -4 769 M -4 769 M
Net Debt 2021 1 404 B 19 074 M 19 074 M
P/E ratio 2021 -0,73x
Yield 2021 -
Capitalization 247 B 3 355 M 3 356 M
EV / Sales 2021 3,69x
EV / Sales 2022 3,39x
Nbr of Employees 17 621
Free-Float 29,6%
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Vodafone Idea Limited Technical Analysis Chart | IDEA | INE669E01016 | MarketScreener
Technical analysis trends VODAFONE IDEA LIMITED
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TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 21
Average target price 7,34 INR
Last Close Price 8,60 INR
Spread / Highest target 97,7%
Spread / Average Target -14,7%
Spread / Lowest Target -88,4%
EPS Revisions
Managers
NameTitle
Ravinder Takkar Chief Executive Officer, Director & MD
Kumar Mangalam Birla Non-Executive Chairman
Ambrish Pandey Jain Chief Operating Officer
Akshaya Moondra Chief Financial Officer
Vishant Vora Chief Technology Officer
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