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BofA raises Vodafone Idea's rating to 'Neutral' on tariff hike prospects

Money Control

Money Control · 1y ago

BofA raises Vodafone Idea's rating to 'Neutral' on tariff hike prospects

Bank of America Securities has upgraded its rating on Vodafone Idea Ltd to 'Neutral' from 'Underperform,' believing the telecom company has the potential to effectively leverage tariff hikes. The brokerage also raised its price target on Vodafone shares. BofA expects tariff hikes of 20-25% in the near term, higher than its earlier projection of 10-15%, due to factors such as increased willingness of telcos to participate and consumer capacity to absorb the hikes. The brokerage also sees opportunities for telcos to expand high-margin fiber broadband services.

Related News

After Vodafone Idea relief, Airtel reportedly seeks equity swap for ₹41,000 crore dues - After Vodafone Idea relief, Airtel reportedly seeks equity swap for ₹41,000 crore dues BusinessToday

Business Today

Business Today · 3m ago

After Vodafone Idea relief, Airtel reportedly seeks equity swap for ₹41,000 crore dues - After Vodafone Idea relief, Airtel reportedly seeks equity swap for ₹41,000 crore dues BusinessToday

Bharti Airtel has requested India's Department of Telecommunications to convert ₹41,000 crore of its adjusted gross revenue (AGR) dues into equity, similar to Vodafone Idea's recent move, potentially giving the government a 2–4% stake. Airtel is focusing on AGR dues, while its total outstanding dues to the government stand at over ₹95,000 crore. The move follows the government's decision to convert Vodafone Idea's spectrum dues into equity. Airtel continues to manage its spectrum and financial commitments.

Jio, Airtel, Vi record customer loss post tariff hike, BSNL becomes only gainer in July

Money Control

Money Control · 10m ago

Jio, Airtel, Vi record customer loss post tariff hike, BSNL becomes only gainer in July

In July, state-run BSNL emerged as the only player to gain new subscribers and lead the market in terms of net customer addition in India's telecom sector. Other major players, including Reliance Jio, Bharti Airtel, and Vodafone Idea, reported a decline in customer base due to a tariff hike. BSNL added over 2.94 million mobile subscribers in July, while Airtel lost 1.69 million subscribers, Vodafone Idea lost 1.41 million, and Reliance Jio lost 758,000 subscribers. Overall, the telecom subscriber base slightly decreased to 1,205.17 million in July.

Indus Towers expects growth as Airtel, Vodafone Idea expand: Analysts

Money Control

Money Control · 1y ago

Indus Towers expects growth as Airtel, Vodafone Idea expand: Analysts

Indus Towers anticipates high capex intensity for this year as Bharti Airtel rapidly deploys towers and Vodafone Idea expands 4G and introduces 5G. Indus expects a fair share in Vodafone Idea's expansion, despite increased competition. The tower company also expects overdue recovery of up to INR 5,400 crore from Vodafone Idea. Additionally, Vodafone Idea is expected to roll out over 60,000 tenancies, offering lucrative opportunities for the Indian tower industry. Indus Towers has been in discussions with both Vodafone Idea and Bharti Airtel for network expansion and rollout with sharing benefits.

Vodafone Idea on the Brink: Govt Shuts Door on More Equity Conversions

StartupTalky

StartupTalky · 1m ago

Vodafone Idea on the Brink: Govt Shuts Door on More Equity Conversions

Vodafone Idea faces financial challenges as the Indian government closes the door on additional equity conversions to assist the company. Despite the government's previous involvement, including becoming the largest shareholder and providing a four-year moratorium on dues, Vodafone Idea's long-term viability remains uncertain. The company is negotiating with lenders for additional funding and may face significant liquidity issues without government support on adjusted gross revenue dues or successful debt fundraising efforts.

Vodafone Idea launches pilot with Mavenir for commercial Open RAN deployment

Livemint

Livemint · 1y ago

Vodafone Idea launches pilot with Mavenir for commercial Open RAN deployment

Vodafone Idea has begun a pilot deployment of Open RAN technology in partnership with Mavenir. The deployment, which began in September, is currently handling live commercial traffic across key sites. This move sets the stage for a broader rollout and highlights Vodafone Idea's focus on next-generation radio solutions and potential for widespread 5G deployment. Open RAN technology allows telecom operators to source hardware and software from different suppliers, enabling a broader vendor ecosystem and reducing dependency on single vendors. This development comes as Vodafone Idea considers proposals for a long-pending fundraise.

Supreme Court Rejects Telcos’ Plea for AGR Dues Waiver

StartupTalky

StartupTalky · 2m ago

Supreme Court Rejects Telcos’ Plea for AGR Dues Waiver

The Supreme Court of India has rejected pleas by Vodafone Idea, Bharti Airtel, and Tata Teleservices to waive their adjusted gross revenue (AGR) dues, including interest and penalties. The decision could significantly impact Vodafone Idea, which may face insolvency without relief. Although Vodafone Idea's senior advocate stated the government owns a considerable stake, the court's ruling prevents offering further concessions. The government is reluctant to increase its stake, potentially transforming the carrier into a public sector entity.

Vodafone Idea to contest ₹10.76 crore penalty order under CGST Act

Livemint

Livemint · 1y ago

Vodafone Idea to contest ₹10.76 crore penalty order under CGST Act

Vodafone Idea Limited plans to take legal action to reverse an order it received under the Central Goods and Services Tax Act, 2017. The telco received a penalty of ₹10.76 crore for alleged incorrect transition of CENVAT credit into the GST regime. Vodafone Idea disputes the order and is seeking rectification. In addition, the company lost 20.44 lakh wireless users in October, dragging its user base down to 22.54 crore. P Balaji, Vodafone Idea's chief regulatory and corporate affairs officer, has also resigned.

Rajiv Jain's GQG, Fidelity pick up shares worth $261 mn in Vodafone Idea

VCCircle

VCCircle · 1y ago

Rajiv Jain's GQG, Fidelity pick up shares worth $261 mn in Vodafone Idea

Investment firms GQG and Fidelity have purchased shares worth $261 million in Indian telecom operator, Vodafone Idea. The shares were acquired as part of Vodafone Idea's planned $2.16 billion share sale. GQG, run by Rajiv Jain, received shares worth 13.48 billion rupees, while Fidelity was allocated shares worth 8.32 billion rupees. Vodafone Idea aims to raise 450 billion rupees to expand its 4G network and launch 5G services. GQG's recent track record includes successful investments in troubled companies with falling share prices.

IT stocks are recovering, but a re-rating still looks distant

Livemint

Livemint · 1m ago

IT stocks are recovering, but a re-rating still looks distant

Indian IT stocks partially recovered after April’s tariff-driven selloff, aided by Accenture’s upbeat outlook. However, sluggish deal momentum and high valuations hinder a full sector-wide re-rating. Despite this, the sector is favored by fund managers in BofA Securities' Asia Fund Manager Survey, with 21% selecting it as their top pick. Accenture’s strong performance is seen as an optimistic sign for Indian tier-1 IT firms, although challenges remain.

Tariffs 'absurdly low', need substantial repair: Airtel's Gopal Vittal

Livemint

Livemint · 1y ago

Tariffs 'absurdly low', need substantial repair: Airtel's Gopal Vittal

Bharti Airtel's CEO, Gopal Vittal, has emphasized the need for a significant increase in tariffs to repair the telecom industry. He stated that the current level of tariffs in India is "absurdly low" and multiple rounds of tariff hikes are required. Vittal believes that average revenue per user (ARPU) needs to reach ₹300, although even at this level, it would still be one of the lowest globally. He added that the pricing and tariffs in India are broken, hindering the monetization of 5G services. Vittal also welcomed Vodafone Idea's recent fundraising efforts and emphasized the need for three strong operators in the market.

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