{"id":65794,"date":"2022-09-29T14:25:00","date_gmt":"2022-09-29T08:55:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=65794"},"modified":"2022-09-29T14:21:29","modified_gmt":"2022-09-29T08:51:29","slug":"5g-penny-stock-in-big-trouble-as-indus-tower-asks-to-clear-dues-or-lose-tower-access","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/5g-penny-stock-in-big-trouble-as-indus-tower-asks-to-clear-dues-or-lose-tower-access\/","title":{"rendered":"5G penny stock in big trouble as Indus tower asks to Clear dues or lose tower access"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-586075541\"><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>India\u2019s third largest telecom service provider, Vodafone Idea (Vi) may lose access to towers from November if it fails to repay dues to Indus Towers. In a big jolt to Vodafone Idea, the latter has issued a stern warning. Over 25 crore users could be affected if Vi fails to pay the dues.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3506835407\"><!-- 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>Indus Towers has asked Vodafone Idea to clear all past dues at the earliest and pay 80 per cent of its monthly dues immediately. Further, it has asked the company to clear 100 per cent of its monthly dues on time, without which access to the tower network would be barred.\u00a0<\/p><p>This decision came after the company\u2019s board met and discussed their mounting receivables. These were mainly due to payment delays by Vodafone Idea, which owes more than \u20b9 7,000 crores to Indus Towers. Vi owes an additional \u20b9 3,000 crores to American Tower Co (ATC), which is planning to take similar steps.&nbsp;<\/p><p>Indus Towers logged a 66.3 per cent YoY (year-on-year) decline in its Jun quarter net profit to \u20b9 477.3 crores. This is largely attributed to heavy receivables, mainly delayed payments by Vodafone Idea.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-2256721018\"><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>On the other hand, the cash-strapped telco is looking to raise \u20b9 20,000 crores. It might take more debt from lenders and equity. The trade payables of the telco surged almost 13.6 per cent sequentially to \u20b9 14,956.2 crores in the June quarter. These include dues to tower firms, network vendors and other suppliers.&nbsp;<\/p><p>Vodafone Idea\u2019s shares have been wealth destroyers in the past. The counter has yielded a negative return of 80 per cent in the past five years and a negative 42 per cent as per year-to-date data. It reached a 52-week high of \u20b9 16.79 on October 10, 2021, and a 52-week low of \u20b9 7.75 in June this year.&nbsp;<\/p><p>At the end of the June quarter, Indus Towers was operating about 1,86,474 towers, with Vi being one of its main customers. Interestingly, the shareholding pattern of the company shows that Bharti Airtel owns 47.76 per cent in Indus towers and Vodafone Group Plc holds 21.05 per cent.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Simran Bafna\u00a0<\/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 content in this news article is not investment advice. 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-2688702189\"><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>India\u2019s third largest telecom service provider, Vodafone Idea (Vi) may lose access to towers from November if it fails to repay dues to Indus Towers. In a big jolt to Vodafone Idea, the latter has issued a stern warning. Over 25 crore users could be affected if Vi fails to pay the dues.&nbsp; Indus Towers [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":50355,"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":[3554,477,959,759,760,480],"class_list":["post-65794","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-penny-stocks","tag-vodafone-idea","tag-vodafone-idea-future","tag-vodafone-idea-news","tag-vodafone-idea-news-today","tag-vodafone-idea-share-price"],"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>5G penny stock in big trouble as Indus tower asks to Clear dues or lose tower access - 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\/5g-penny-stock-in-big-trouble-as-indus-tower-asks-to-clear-dues-or-lose-tower-access\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5G penny stock in big trouble as Indus tower asks to Clear dues or lose tower access\" \/>\n<meta property=\"og:description\" content=\"India\u2019s third largest telecom service provider, Vodafone Idea (Vi) may lose access to towers from November if it fails to repay dues to Indus Towers. 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