Vodafone Financial News

ZTE is in talks for transfer of technology and designs and formation of a joint venture with Indian companies, TOI reported. The move comes as the company is looking to freeze on the business amid Indian government’s constant concerns towards security. Apart from ZTE, Huawei is also facing the heat from the Indian government amid border tensions between the two Asian nations.

Balkrishna Industries(up 1.62 per cent), Samvardhana Motherson International(up 1.32 per cent), Tata Motors(up 1.18 per cent), Sona BLW Precision Forgings(up 0.72 per cent) and Eicher Motors(up 0.65 per cent) were among the top gainers. Ashok Leyland(down 0.82 per cent), Mahindra & Mahindra(down 0.49 per cent), TIINDIA(down 0.37 per cent), Maruti Suzuki(down 0.29 per cent) and Bharat Forge(down 0.01 per cent) were the top losers on the index.

LTIMindtree Ltd(up 0.89 per cent), Coforge(up 0.88 per cent), Wipro(up 0.69 per cent), L&T Technology(up 0.65 per cent) and Infosys(up 0.61 per cent) were among the top gainers. MPhasis(down 0.68 per cent) and Persistent Systems(down 0.23 per cent) were the top losers on the index.

Reliance Jio’s 4G feature phone is expected to drive a higher market share loss among 2G users of Bharti Airtel as compared to Vodafone Idea, further delaying tariff hikes, analysts said. They added that attractive pricing and reasonable device quality will drive market share gains for Jio. “While Bharti's network is better than its other 2G peers, its dominant share in the feature-phone market will lead to higher subscriber losses. We expect Bharti to witness voice subscriber churn of 17 million by March 2026,” Jefferies said in a report. As per estimates, Airtel has over 130 million active 2G subscribers and around 100 million paying voice subscribers, implying a 40-50% share among the 250 million feature-phone market. Earlier this month, Jio had launched the Rs 999 internet enabled feature phone — Jio Bharat, with the aim to capture a majority of the 2G user base in the country. With attractive pricing, those feature phone users who are at the end of their device life, are likely to save 26% on their mobile spends. “This leads to an annual addressable market of 60-65 million users for Jio Bharat and we expect Reliance Jio to gain 55 million subscribers by March 2026,” the report said. Analysts further said that hefty network capacity additions along with Jio Bharat launch underscore the Mukesh Ambani-led company’s rising focus on subscriber gains and it did not bode well for tariff hikes. “Hence, we change our tariff hike assumptions of a 15% hike towards end CY23 to 20% hike in 2Q FY25, which leads to a 3-5% cut to our FY24-25 India mobile Arpu (average revenue per user) estimates,” the report added.

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Mukesh Ambani continues to focus on market share gains in the telecom space, any tariff hike by Reliance Jio is unlikely in FY24, analysts say. During the June quarter, Jio's average revenue per user or APRU grew 2.8% year-on-year (YoY) at Rs 180.5 due to increased data consumption, improvement in subscriber mix, and rising share of revenues from the home broadband business. «Hefty network capacity additions with the recent JioBharat launch suggest a higher focus on subscriber gains and do not bode well for tariff hikes.

Vodafone Idea (Vi) has failed to renew some lapsed bank guarantees (BGs) — some as low as Rs 99 lakh — and sought more time from the Centre to replenish them, underscoring the precarious financials at the debt-laden telco that is continuously losing subscribers to two of its bigger rivals. «Due to our weak financial position, we are not in a position to issue replacement BGs of Rs 99 lakh and Rs 32.49 crore as this requires 100% cash margin to be provided to the banks,» Vi said in a letter dated July 7 to the Controller General of Communication Accounts (CGCA-revenue wing) in the Department of Telecommunications (DoT). The telco also said it has been unable to renew additional BGs of undisclosed sums issued by Kotak Mahindra Bank due to its continuing financial constraints. ET has seen a copy of the letter. Kotak's BG exposure to Vi, at present, is within Rs 10 crore, a person aware of the developments told ET.

Shares of Bandhan Bank(up 3.0 per cent), IDFCBANK(up 1.78 per cent), State Bank of India(up 0.83 per cent), Kotak Mahindra Bank(up 0.68 per cent) and ICICI Bank(up 0.14 per cent) ended the day as top gainers in the pack. On the other hand, Federal Bank(down 1.97 per cent), Punjab National Bank(down 1.96 per cent), IndusInd Bank(down 1.25 per cent), Bank of Baroda(down 1.23 per cent) and HDFC Bank(down 0.77 per cent) finished as the top losers of the day.

Shares of Ashok Leyland(up 3.5 per cent), TIINDIA(up 1.72 per cent), Sona BLW Precision Forgings(up 1.54 per cent), Tata Motors(up 0.66 per cent) and Hero MotoCorp(up 0.48 per cent) ended the day as top gainers in the pack. On the other hand, Mahindra & Mahindra(down 1.41 per cent), Bosch(down 0.79 per cent), TVS Motor Company(down 0.16 per cent), Bajaj Auto(down 0.12 per cent) and Eicher Motors(down 0.05 per cent) finished as the top losers of the day.

Shares of MPhasis(up 5.28 per cent) ended the day as top gainers in the pack. On the other hand, Infosys(down 8.13 per cent), Persistent Systems(down 5.83 per cent), Tech Mahindra(down 4.62 per cent), Coforge(down 3.72 per cent) and HCL Technologies(down 3.49 per cent) finished as the top losers of the day.

Shares of Natco Pharma(up 2.07 per cent), Glenmark Pharmaceuticals(up 1.69 per cent), Ipca Laboratories(up 1.2 per cent), Aurobindo Pharma(up 0.9 per cent) and Divis Laboratories(up 0.59 per cent) ended the day as top gainers in the pack. On the other hand, Abbott India(down 2.03 per cent), Lupin(down 0.99 per cent), Dr Reddys Laboratories(down 0.96 per cent), Biocon(down 0.86 per cent) and Cipla(down 0.72 per cent) finished as the top losers of the day.

Ashok Leyland(up 3.27 per cent), TIINDIA(up 0.71 per cent), Sona BLW Precision Forgings(up 0.66 per cent), Tata Motors(up 0.44 per cent) and Maruti Suzuki(up 0.18 per cent) were among the top gainers. Bosch(down 0.75 per cent), Hero MotoCorp(down 0.68 per cent), Bharat Forge(down 0.53 per cent), Balkrishna Industries(down 0.43 per cent) and Samvardhana Motherson International(down 0.36 per cent) were the top losers on the index.

State Bank of India(up 1.29 per cent), IDFCBANK(up 1.04 per cent), Bank of Baroda(up 0.63 per cent), Kotak Mahindra Bank(up 0.52 per cent) and Punjab National Bank(up 0.23 per cent) were among the top gainers. Federal Bank(down 1.79 per cent), IndusInd Bank(down 0.99 per cent), HDFC Bank(down 0.63 per cent), ICICI Bank(down 0.55 per cent) and Axis Bank(down 0.47 per cent) were the top losers on the index.

Macrotech Developers(up 2.48 per cent), Phoenix Mills(up 1.67 per cent), Indiabulls Real Estate(up 0.37 per cent) and Mahindra Lifespace Developers(up 0.37 per cent) were among the top gainers. Oberoi Realty(down 1.82 per cent), DLF(down 1.38 per cent), Prestige Estates Projects(down 0.96 per cent), Brigade Enterprises(down 0.95 per cent) and Godrej Properties(down 0.72 per cent) were the top losers on the index.

Shares of Natco Pharma(up 5.36 per cent), Gland Pharma(up 3.85 per cent), Aurobindo Pharma(up 2.86 per cent), Glenmark Pharmaceuticals(up 2.85 per cent) and Dr Reddys Laboratories(up 2.26 per cent) ended the day as top gainers in the pack. On the other hand, Sanofi India(down 1.24 per cent), Ipca Laboratories(down 1.21 per cent), Granules India(down 0.64 per cent), Glaxosmithkline Pharmaceuticals(down 0.58 per cent) and Biocon(down 0.21 per cent) finished as the top losers of the day.

Shares of Punjab National Bank(up 4.14 per cent), IndusInd Bank(up 2.11 per cent), State Bank of India(up 1.54 per cent), Bank of Baroda(up 1.04 per cent) and IDFCBANK(up 0.86 per cent) ended the day as top gainers in the pack. On the other hand, ICICI Bank(down 0.21 per cent) and AU Small Finance Bank(down 0.07 per cent) finished as the top losers of the day.

Shares of Persistent Systems(up 3.12 per cent), MPhasis(up 2.19 per cent), L&T Technology(up 1.85 per cent), Wipro(up 0.18 per cent) and HCL Technologies(up 0.16 per cent) ended the day as top gainers in the pack. On the other hand, Coforge(down 1.81 per cent), Tata Consultancy(down 0.77 per cent), Tech Mahindra(down 0.23 per cent), LTIMindtree Ltd(down 0.21 per cent) and Infosys(down 0.02 per cent) finished as the top losers of the day.

Shares of SOBHA(up 0.57 per cent), Brigade Enterprises(up 0.15 per cent) and Mahindra Lifespace Developers(up 0.05 per cent) ended the day as top gainers in the pack. On the other hand, Indiabulls Real Estate(down 2.56 per cent), Oberoi Realty(down 1.48 per cent), Phoenix Mills(down 1.21 per cent), Godrej Properties(down 1.08 per cent) and Macrotech Developers(down 0.8 per cent) finished as the top losers of the day.

Shares of Federal Bank(up 1.73 per cent), ICICI Bank(up 0.7 per cent) and AU Small Finance Bank(up 0.32 per cent) ended the day as top gainers in the pack. On the other hand, Bank of Baroda(down 1.76 per cent), State Bank of India(down 1.46 per cent), Punjab National Bank(down 1.2 per cent), IDFCBANK(down 0.73 per cent) and Bandhan Bank(down 0.49 per cent) finished as the top losers of the day.

When the RSI is above 70, it is considered overbought, indicating that the stock may be due for a correction or price pullback. Conversely, when the RSI is below 30, it is considered oversold, suggesting that the stock may be undervalued and due for a potential rebound. RSI values between 30 and 70 are considered neutral, indicating a balanced market sentiment.

Shares of Maruti Suzuki(up 0.89 per cent), Ashok Leyland(up 0.38 per cent), Bosch(up 0.36 per cent) and Eicher Motors(up 0.08 per cent) ended the day as top gainers in the pack. On the other hand, Hero MotoCorp(down 1.43 per cent), Tata Motors(down 1.02 per cent), TIINDIA(down 0.67 per cent), Mahindra & Mahindra(down 0.66 per cent) and Balkrishna Industries(down 0.61 per cent) finished as the top losers of the day.