{"id":104068,"date":"2023-06-14T13:43:42","date_gmt":"2023-06-14T08:13:42","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=104068"},"modified":"2023-06-14T13:43:44","modified_gmt":"2023-06-14T08:13:44","slug":"telecom-stock-jumps-up-to-10-as-promoters-will-likely-infuse-14000-cr","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/telecom-stock-jumps-up-to-10-as-promoters-will-likely-infuse-14000-cr\/","title":{"rendered":"Telecom stock jumps up to 10% as promoters will likely infuse \u20b9 14,000 Cr\u00a0"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3420786301\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of beleaguered telecom company Vodafone Idea rallied 10.13% on the Bombay Stock Exchange (BSE) on Wednesday\u2019s early deals to reach an intraday high of \u20b9 8.48 apiece, after reports suggested that its promoters will likely infuse equity worth \u20b9 14,000\u00a0crore in the near-term, in order to revive the business. At 11:30 AM, its shares were trading at \u20b9 8.08 apiece.\u00a0<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3589649735\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The company\u2019s promoters and promoter group collectively hold a 50.36% stake in it. The Aditya Birla Group (ABG) and UK\u2019s Vodafone Group Plc will infuse half of the overall amount, suggested a report by ET.&nbsp;<\/p><p>According to the report, the revival plan was submitted to the government earlier this month. It noted that the promoters have already invested \u20b9 5,000 crores as fresh equity since the government&#8217;s telecom revival package in September 2021, and ABG and the Vodafone group will invest \u20b9 2,000 crores soon. <\/p><p>Moreover, the promoters will work with the company as part of the revival plan to raise another \u20b9 7,000 crores either as direct equity or through convertible structures from external investors.\u00a0<\/p><div class=\"trade-content_5\" id=\"trade-92231108\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Kumar Mangalam Birla, the Chairperson of ABG recently returned to the board of Vodafone Idea as an additional director, with effect from April 20, turning sentiments positive around the stock.&nbsp;<\/p><p>Moreover, data shows that mutual funds lapped up additional shares of Vodafone Idea. Their shareholding increased to 28.64 crore shares in May 2023, from 20.48 crore shares in April 2023.&nbsp;<\/p><p><strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/IDEA\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Vodafone Idea\u2019s shares<\/a><\/strong> witnessed turbulence in the past year. They reached a 52-week high of \u20b9 10.08 apiece on September 13, 2022, and a 52-week low of \u20b9 5.7 on March 31, 2023.\u00a0<\/p><p>The telecom operator reported a consolidated net loss of \u20b9 6,419 crores for the fourth quarter of FY23, versus a loss of \u20b9 6,563 crores in the same period a year ago. Its revenue growth remained muted at \u20b9 10,532 crores, up 3% year on year (YoY).&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written By Simran Bafna&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-full is-resized\"><img decoding=\"async\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer.png\" alt=\"\" class=\"wp-image-26306\" width=\"256\" height=\"256\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-784088417\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of beleaguered telecom company Vodafone Idea rallied 10.13% on the Bombay Stock Exchange (BSE) on Wednesday\u2019s early deals to reach an intraday high of \u20b9 8.48 apiece, after reports suggested that its promoters will likely infuse equity worth \u20b9 14,000\u00a0crore in the near-term, in order to revive the business. At 11:30 AM, its shares [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":28544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[3297,6518,6519,3244,477,762,759,760,480,757],"class_list":["post-104068","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-telecom-sector-news","tag-telecom-stock","tag-telecom-stock-to-buy-now","tag-telecom-stocks","tag-vodafone-idea","tag-vodafone-idea-limited-latest-news","tag-vodafone-idea-news","tag-vodafone-idea-news-today","tag-vodafone-idea-share-price","tag-vodafone-limited"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Telecom stock jumps up to 10% as promoters will likely infuse \u20b9 14,000 Cr\u00a0 - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/telecom-stock-jumps-up-to-10-as-promoters-will-likely-infuse-14000-cr\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Telecom stock jumps up to 10% as promoters will likely infuse \u20b9 14,000 Cr\u00a0\" \/>\n<meta property=\"og:description\" content=\"Shares of beleaguered telecom company Vodafone Idea rallied 10.13% on the Bombay Stock Exchange (BSE) on Wednesday\u2019s early deals to reach an intraday high of \u20b9 8.48 apiece, after reports suggested that its promoters will likely infuse equity worth \u20b9 14,000\u00a0crore in the near-term, in order to revive the business. 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