Vodafone Financial News

Chainlink's (LINK) token has experienced a remarkable 26% surge between Nov. 2 and Nov. 8, approaching $14, a level not seen since April 2022. This solidified its position as the 10th largest cryptocurrency (excluding stablecoins) by market capitalization.

Natco Pharma Ltd.(up 0.85 per cent) were among the top gainers. Sanofi India Ltd.(down 2.63 per cent), Granules India Ltd.(down 2.13 per cent), Torrent Pharmaceuticals Ltd.(down 2.01 per cent), Alkem Laboratories Ltd.(down 1.85 per cent) and Biocon Ltd.(down 1.8 per cent) were the top losers on the index.

Sensex and Nifty plunged nearly 1% on Wednesday due to heavy selling in financial and IT shares as the ongoing tensions in the Middle East unnerved investors. Stocks that were in focus included names like Mahindra Logistics, which fell 1.94%, NDTV, which declined 2.38%, and Vodafone Idea, whose shares declined 0.91% on Wednesday. Here's what Riyank Arora, Technical Analyst at Mehta Equities, recommends investors should do with these stocks when the market resumes trading today. Mahindra Logistics — Buy The stock has touched a significant support level of 350 in today's session. Looking at the overall structure on daily charts, Mahindra Logistics might experience a pull-back rally towards 380-390 if the level of 350 is well maintained.

Vodafone’s Digital Asset Broker (DAB) announced on Tuesday a collaborative proof of concept with Chainlink Labs, Sumitomo Corporation, and InnoWave. The initiative’s goal is to tackle existing obstacles in the $32 trillion global trade ecosystem. The partners revealed their efforts to improve the exchange of vital trade documents across multiple platforms and blockchains, focusing on security and interoperability.

Vodafone Idea has partnered with the state-backed Centre for Development of Telematics (C-DOT) to offer a laboratory to promote standardization and interoperability in the IoT ecosystem. The lab will offer device testing and certification as per oneM2M standards and 3GPP standards for interoperability, which has been adopted as national standard for IoT solution design by the Bureau of Indian Standards (BIS). The lab is an initiative of Vi Business, the enterprise arm of Vodafone Idea, and is equipped to test more than 175 scenarios including network and functional testing, field testing, application testing, compatibility testing, oneM2M standard testing and more.

Persistent Systems Ltd.(up 1.79 per cent), LTIMindtree Ltd.(up 1.11 per cent), MphasiS Ltd.(up 0.79 per cent), HCL Technologies Ltd.(up 0.51 per cent) and L&T Technology Services Ltd.(up 0.32 per cent) were among the top gainers. Infosys Ltd.(down 1.96 per cent) and Tata Consultancy Services Ltd.(down 0.05 per cent) were the top losers on the index.

Insurance Co., as part of its resolution plan for the parent firm, Reliance Capital, according to law firm Khaitan & Co. A copy of the letter, which is in response to a query by the insurer, was reviewed by Mint.

NEW DELHI : India is moving away from its 2016 model bilateral investment treaty (BIT) approach in talks with the UK as the two countries look to cut the timeframe for settling investor-state disputes in a new treaty to be signed alongside a free trade pact next month, a person privy to the matter said. The tweak in stance is for “strategically important countries" with which India is seeking closer economic integration after exiting the Regional Comprehensive Economic Partnership (RCEP), a China-led mega trade deal among 15 Asian nations that came into force last year. “Most of the issues in BIT have been settled.

Hinduja-led IIHL — the successful bidder for Reliance Capital under insolvency proceedings — cannot extinguish the employees stock options (ESOPs) and other incentive schemes for the Reliance General Insurance Company (RGIC) employees, a subsidiary of Reliance Capital, according to legal opinion taken by Reliance General Insurance. The legal opinion was necessitated as IIHL in its resolution plan for Reliance Capital has sought to extinguish all employees stock option plans, phantom stocks or similar incentive schemes of Reliance Capital and its subsidiaries, including RGIC, so that no additional cost is incurred after the takeover.

IIHL — the successful bidder for Reliance Capital under insolvency proceedings — cannot extinguish the employees stock options (ESOPs) and other incentive schemes for the Reliance General Insurance Company (RGIC) employees, a subsidiary of Reliance Capital, according to legal opinion taken by Reliance General Insurance. The legal opinion was necessitated as IIHL in its resolution plan for Reliance Capital has sought to extinguish all employees stock option plans, phantom stocks or similar incentive schemes of Reliance Capital and its subsidiaries, including RGIC, so that no additional cost is incurred after the takeover.

Sequent Scientific, Kirloskar Brothers, Hindustan Construction Company, Ion Exchange (India), Jubilant Pharmova, Jai Corp, and KIOCL, all witnessing losses of over 10% in trade. Other stocks such as Vascon Engineers, Onward Technologies, MTNL, Parag Milk Foods, Asian Granito India, Star Cement, Man Industries (India), Titagarh Rail Systems, Orient Paper & Industries, B L Kashyap & Sons, SEPC, Sasken Technologies, Prime Focus, and Atul Auto recorded declines in the range of 8–10%.

ICICI Bank Ltd.(up 0.57 per cent), Au Small Finance Bank Ltd.(up 0.55 per cent) and HDFC Bank Ltd.(up 0.05 per cent) were among the top gainers. Bank of Baroda(down 1.38 per cent), Federal Bank Ltd.(down 1.37 per cent), Kotak Mahindra Bank Ltd.(down 1.11 per cent), IndusInd Bank Ltd.(down 0.94 per cent) and Punjab National Bank(down 0.89 per cent) were the top losers on the index.

Balkrishna Industries Ltd.(up 0.36 per cent), Mahindra & Mahindra Ltd.(up 0.19 per cent) and TVS Motor Company Ltd.(up 0.07 per cent) were among the top gainers. Tube Investments of India Ltd.(down 2.69 per cent), Sona BLW Precision Forgings Ltd.(down 1.48 per cent), Tata Motors Ltd.(down 1.31 per cent), Hero MotoCorp Ltd.(down 1.03 per cent) and Bajaj Auto Ltd.(down 0.93 per cent) were the top losers on the index.

Oberoi Realty Ltd.(up 0.07 per cent) were among the top gainers. Prestige Estates Projects Ltd.(down 3.92 per cent), Indiabulls Real Estate Ltd.(down 3.91 per cent), Macrotech Developers Ltd.(down 3.11 per cent), Sobha Ltd.(down 2.34 per cent) and Mahindra Lifespace Developers Ltd.(down 1.32 per cent) were the top losers on the index.

India's top two telecom operators, Reliance Jio and Bharti Airtel, are likely to post improved profitability and cash generation through fiscal 2025, on the back of a likely moderation in 5G capital expenditure and customer churn from this quarter, FY24 onwards, said analysts. «Capex will remain elevated in 2QFY24, but we expect moderation in 2HFY24, which will help improve profitability and cash generation...Airtel and Jio are well positioned over the medium-term with growth levers such as subscriber upgrades, market share gains and tariff hikes that are just a matter of time,» BNP Paribas said in a note. Jio and Airtel managements have been guiding for a moderation in network capex from FY25 onwards with accelerated pan-India 5G rollouts likely to be concluded by December 2023 and March 2024, respectively. «Bharti's management capex guidance implies (annual) India business capex could decline to ₹20,000 crore from FY25 (versus ₹28,000 crore in FY23 and a similar guidance in FY24), though we continue to conservatively build in ₹27,000 crore for FY25,» JM Financial said. Jio, with more than 62 million 5G users, and Airtel, with over 50 million subscribers for the service, have been expanding their networks since the launch in October 2022. Loss-making Vodafone Idea (Vi) has yet to announce its 5G services launch as it is yet to close its much-delayed fundraising. Analysts, though, believe serious monetisation of 5G services is at least a year away despite Jio and Airtel recently taking first steps by launching AirFiber or 5G-based fixed wireless access (FWA) services in a few markets. Some analysts expect Jio to take the lead in hastening monetisation of its 5G-based FWA services by bundling PayTV. «Any

Supreme Court in the adjusted gross revenue (AGR) matter, requesting that the levy of interest, penalty and interest on penalty on the statutory dues are reconsidered. The company has also drawn the court’s attention to the fact that mathematical/calculational errors exist in the dues amounts claimed by the Department of Telecommunications (DoT). The petition is filed against the court’s earlier order in January 2020, when the court had rejected the firm’s limited review petition seeking waiver of interest, penalty and interest on penalty on their AGR dues. Bharti Airtel and Vodafone Idea too have filed curative petitions on October 9 regarding similar matters. “On October 17, 2023, company has filed curative petition in Supreme Court against the review order dated January16, 2020 passed…and also against the judgment and order dated October 24, 2019 passed by this court and the connected appeals,” Tata Teleservices (Maharashtra) said in a regulatory filing Friday. “Through this Curative Petition, company has requested the Hon’ble Supreme Court to reconsider levy of interest, penalty and interest on penalty on AGR dues and has also drawn its attention to the fact that mathematical/calculational errors exist in the dues / amounts claimed by DoT,” the company added. It said it doesn’t expect any negative financial implication. The petitions filed by the companies seek to set aside the October 2019 judgement to the limited extent of imposition penalty and interest on penalty and allow correction of arithmetical errors in the provisional demands raised by DoT. Of the total Rs 1.47 lakh crore of AGR dues, nearly 75% comprised interest, penalty and interest on penalty, the companies said.

Shares of Laurus Labs Ltd.(up 1.14 per cent), Sanofi India Ltd.(up 0.29 per cent) and Sun Pharmaceutical Industries Ltd.(up 0.06 per cent) ended the day as top gainers in the pack. On the other hand, Gland Pharma Ltd.(down 3.08 per cent), Granules India Ltd.(down 2.43 per cent), Divi's Laboratories Ltd.(down 2.29 per cent), Aurobindo Pharma Ltd.(down 1.97 per cent) and Zydus Lifesciences Ltd.(down 1.91 per cent) finished as the top losers of the day.

Shares of Tata Consultancy Services Ltd.(up 1.12 per cent) and Persistent Systems Ltd.(up 0.99 per cent) ended the day as top gainers in the pack. On the other hand, MphasiS Ltd.(down 4.02 per cent), Coforge Ltd.(down 2.12 per cent), L&T Technology Services Ltd.(down 1.23 per cent), Wipro Ltd.(down 0.87 per cent) and LTIMindtree Ltd.(down 0.76 per cent) finished as the top losers of the day.

Shares of Tube Investments of India Ltd.(up 2.18 per cent) and Bajaj Auto Ltd.(up 0.12 per cent) ended the day as top gainers in the pack. On the other hand, Samvardhana Motherson International Ltd.(down 3.01 per cent), Ashok Leyland Ltd.(down 2.6 per cent), Bharat Forge Ltd.(down 2.16 per cent), Hero MotoCorp Ltd.(down 1.67 per cent) and Sona BLW Precision Forgings Ltd.(down 1.61 per cent) finished as the top losers of the day.

Prestige Estates Projects Ltd.(up 1.19 per cent), Phoenix Mills Ltd.(up 0.96 per cent), Mahindra Lifespace Developers Ltd.(up 0.65 per cent), Sobha Ltd.(up 0.33 per cent) and Brigade Enterprises Ltd.(up 0.2 per cent) were among the top gainers. Godrej Properties Ltd.(down 0.76 per cent), Oberoi Realty Ltd.(down 0.75 per cent), DLF Ltd.(down 0.5 per cent) and Macrotech Developers Ltd.(down 0.16 per cent) were the top losers on the index.

Shares of IndusInd Bank Ltd.(up 2.11 per cent), Bank of Baroda(up 0.73 per cent), Federal Bank Ltd.(up 0.2 per cent) and Au Small Finance Bank Ltd.(up 0.09 per cent) ended the day as top gainers in the pack. On the other hand, Bandhan Bank Ltd.(down 3.75 per cent), Kotak Mahindra Bank Ltd.(down 0.85 per cent), ICICI Bank Ltd.(down 0.84 per cent), HDFC Bank Ltd.(down 0.31 per cent) and Punjab National Bank(down 0.26 per cent) finished as the top losers of the day.