GAGA Share Market News

[hfe_template id='11223'] [ad_1] Vodafone Idea Friday said its board has cleared amending the shareholders' agreement to allow promoters Aditya Birla Group and Vodafone Group to retain governance and management rights in the company. “The Board of Directors at its meeting held today i.e. on 2 May 2025 have inter-alia resolved to...amend certain clauses of the Shareholders' Agreement (to which the Company is a party) so as to modify, amongst others, the 'Qualifying Threshold' from 13% to 10% and, solely for this purpose, to disregard the equity shares originally issued to the Government of India,” Vi said in a filing to the BSE Friday. The need for the amendment arose after an increase in the government's stake to 48.99%, following a recent conversion of statutory dues into equity. As a consequence, Aditya Birla Group (ABG) companies and the Vodafone group companies' stakes were diluted to 9.50% and 16.07% respectively. As per the shareholders'...

[hfe_template id='11223'] [ad_1] Indian corporates shattered fundraising records in FY2024-25, mobilizing a staggering Rs 19.96 lakh crore through a mix of equity and debt instruments, despite volatile market conditions and global economic headwinds. The data, compiled by PRIME Database, highlights a strong appetite for capital across both primary equity markets and debt channels - making it the highest ever fundraising in a single fiscal year. While market sentiment remained uneven through parts of the year, companies rushed to seize favourable windows, leading to record equity mobilisation of Rs 3.71 lakh crore - nearly double that of the previous year. The surge was powered by blockbuster IPOs, a revival in Qualified Institutional Placements (QIPs), and robust participation in private debt placements. Mainboard IPOs alone raised Rs 1.62 lakh crore. Here’s a look at the data compiled by PRIME Database: Equity fundraising doubles as IPOs roar back Total equity mobilisat...

[hfe_template id='11223'] [ad_1] After the Indian government decided to convert Vodafone Idea's upcoming spectrum dues repayment into equity, in line with the provisions in 2021 telecom relief measures, the debt-ridden telco is now nearing PSU stock status as the government's holding would increase from 22.6% currently to 49%. "With GoI’s stake rising to 49% after the latest equity conversion, any further equity conversion of dues could lead to GoI’s stake crossing 50%, which could turn Vi into a public sector unit (PSU)," Motilal Oswal analyst Aditya Bansal said. The conversion, which will occur at Rs 10 per share, is at a 47% premium to the stock's last closing price. As a result, Vi shares hit the 10% upper circuit this morning to Rs 7.49 on BSE. Vi’s existing promoters will continue to have operational control, albeit with a modest 25.5% stake after the equity conversion. "Overall, we view this as a major display of support by the gov't...

[hfe_template id='11223'] [ad_1] Indian benchmark equity indices traded flat on Wednesday as gains in metal stocks, following the government's recommendation of a temporary tax on certain steel imports, offset losses in IT stocks ahead of the Federal Reserve's policy decision. The BSE Sensex was trading 34 points, higher at 75,335. The Nifty50 was up 15 points, trading at 22,849 around 9:45 am. From the Sensex pack, Tata Steel, Zomato, NTPC, IndusInd Bank, SBI, and Bajaj Finance were the top gainers, rising up to 2%. Meanwhile, TCS, HCL Tech, Infosys, and Tech Mahindra opened lower. Tata Steel and other metal stocks surged after the Directorate General of Trade Remedies (DGTR) recommended a 12% safeguard duty on the import of certain steel products. CLSA said that the duty and domestic prices in line with import parity will add to the multiple positive catalysts for the sector, such as improving demand outlook due to China stimulus hopes and a rise in capex in Eu...

[hfe_template id='11223'] [ad_1] Citing a loss of market share, financial instability due to reliance on debt and dependence on government relief, domestic brokerage firm Motilal Oswal downgraded the Vodafone Idea (Vi) stock to a ‘sell’ from an earlier ‘neutral’ rating. The domestic brokerage firm also foresees a 40% potential downside in the stock as it has fixed a target price of Rs 5 for the same. Vi lost further market share to peers in the third quarter, with continued data subscriber churn and weaker customer engagement metrics. Bharti was once again the biggest gainer, with 80bp/45bp QoQ gains on Revenue Market Share (RMS) and Subscriber Market Share (SMS) in 3QFY25. “Vi continues to lose market share to peers on account of lower ARPU translation, given its inferior subscriber mix and elevated subscriber churn. Vi plans to embark on a significant capex cycle (INR500-550b over the next 2-3 years) to bridge the network gap with peers. Despite the likely capex, we be...

[hfe_template id='11223'] [ad_1] As the Q3 FY25 earnings season nears its conclusion, 108 companies are set to announce their results this week. Some of the marquee names include Eicher Motors, Nykaa, Hindalco, Patanjali Foods, Varun Beverages, IRCTC, Lupin, Tata Investment Corporation, Vodafone Idea, Ashok Leyland, Hindustan Aeronautics (HAL), Honasa Consumer, and RVNL, among others. Here are the key earnings to watch out for this week: 10th February Apollo Hospitals Enterprise, Avanti Feeds, Bata India, CRISIL, Eicher Motors, Elgi Equipments, Engineers India, Esab India, Escorts Kubota, FSN E-Commerce Ventures, Galaxy Surfactants, Garware Technical Fibres, Gillette India, Grasim Industries, Gujarat State Fertilizers & Chemicals, HBL Engineering, National Aluminium Company, Patanjali Foods, PNC Infratech, Saregama India, Signatureglobal (India), Sun Pharma Advanced Research Company, TVS Supply Chain Solutions, Varroc Engineering, and Varun Beverages. 11th February A...

[hfe_template id='11223'] [ad_1] After the government’s approval of a significant bank guarantee waiver for spectrum payments provided a lifeline to Vodafone Idea, global brokerage firm Citi assigned the debt-laden telecom operator a "buy" rating with a target price of Rs 13 per share, indicating a potential 70% upside from current levels. The government’s decision to waive the requirement for bank guarantees on spectrum acquired in auctions from 2012 to 2021 has provided a crucial boost to Vodafone Idea, easing the financial pressure on the struggling telecom giant, Citi noted. Prior to this move, Vodafone Idea was required to submit bank guarantees worth nearly Rs 24,800 crore for spectrum dues, a burden that had hindered its ability to secure debt funding. Citi noted that this waiver addresses a critical roadblock for Vodafone Idea, paving the way for improved funding prospects. The waiver also benefits Indus Towers, where Citi has maintained a "positiv...

[hfe_template id='11223'] [ad_1] Vodafone Idea share surged 7% to an intraday high of Rs 8 on the BSE after the letter from the Department of Telecommunications (DoT) waived the need for bank guarantees worth about Rs 33,000 crore for past spectrum auctions. Shares of Bharti Airtel also ticked marginally higher. The bulk of the relief, amounting to Rs 24,800 crore, applies to Vi, a relative straggler. “The letters to the telcos were sent on December 27,” as reported by ET earlier. The BG waiver will apply to spectrum auctions conducted in 2012, 2014, 2015, 2016, and 2021. Spectrum auctions conducted in 2022 and 2024 have already done away with the requirement for BGs based on the 2021 telecom reforms package. Telcos were otherwise required to furnish the guarantees to the Department of Telecommunications (DoT) to cover for spectrum payments in past auctions. Also read: Ventive Hospitality shares to debut today. Here's what GMP indicatesVodafone Idea, which is yet to ...

[hfe_template id='11223'] [ad_1] UK-based telecom operator Vodafone PLC on Thursday completed its exit from Indus Towers by selling a 3% stake in the company for around Rs 2,800 crore in a block deal. The fund raise, Vodafone said, will be used to to repay debt in Vodafone Idea (Vi). Following the block deal, shares of Indus Towers rallied up to 5% while Vodafone Idea shares were trading around 2% lower. In the block deal carried out this morning, around 8 crore shares of Vodafone Idea changed hands at an average price of Rs 354 per share, according to TV reports. "The proceeds from the Placing will be used firstly to repay Vodafone's outstanding borrowings of $101 million to Vodafone's existing lenders, secured against Vodafone's Indian assets," Vodafone said in a statement. The telco said it intends to contribute the residual proceeds from the sale after repayment of Vodafone's outstanding borrowings towards an issue of new equity shares by Vi...

[hfe_template id='11223'] [ad_1] Indian Railway Finance Corporation Share Price 152.4 03:59 PM | 11 Oct 2024 0.97(0.65%) Suzlon Energy Share Price 74.39 03:59 PM | 11 Oct 2024 -1.05(-1.4%) Indian Renewable Energy Development Agency Share Price 228.61 03:59 PM | 11 Oct 2024 -5.08(-2.18%) Tata Motors Share Price 930.7 03:59 PM | 11 Oct 2024 2.21(0.24%) YES Bank Share Price 21.4 04:00 PM | 11 Oct 2024 -0.03(-0.1%) HDFC Bank Share Price 1651.0 03:59 PM | 11 Oct 2024 -11.41(-0.69%) NHPC Share Price 90.92 03:59 PM | 11 Oct 2024 0.11(0.13%) Rail Vikas Nigam Share Price 475.4 03:59 PM | 11 Oct 2024 -5.16(-1.08%) State Bank of India Share Price 799.75 03:59 PM | 11 Oct 2024 2.65(0.34%) Tata Power Company Share Price 461.15 03:59 PM | 11 Oct 2024 -4.5(-0.97%) Tata Steel Share Price 160.66 03:59 PM | 11 Oct 2024 0.94(0.59%) Adani Power Share Price 642.3 03:58 PM | 11 Oct 2024 -3.11(-0.49%) One97 Communications Share Price 724.5 03:59 PM | 11 Oct 2024 -7.5(-1.03%) Punjab National Ba...

[hfe_template id='11223'] [ad_1] Indian Railway Finance Corporation Share Price 151.82 03:59 PM | 8 Oct 2024 7.47(5.18%) Suzlon Energy Share Price 73.64 03:59 PM | 8 Oct 2024 2.71(3.83%) Indian Renewable Energy Development Agency Share Price 224.39 03:59 PM | 8 Oct 2024 13.26(6.29%) Tata Motors Share Price 919.8 03:59 PM | 8 Oct 2024 -8.06(-0.87%) YES Bank Share Price 21.54 03:59 PM | 8 Oct 2024 0.28(1.32%) HDFC Bank Share Price 1651.05 03:59 PM | 8 Oct 2024 33.25(2.06%) NHPC Share Price 90.64 03:59 PM | 8 Oct 2024 0.18(0.19%) Rail Vikas Nigam Share Price 487.05 03:59 PM | 8 Oct 2024 35.36(7.83%) State Bank of India Share Price 781.45 03:59 PM | 8 Oct 2024 10.81(1.41%) Tata Power Company Share Price 456.9 03:59 PM | 8 Oct 2024 15.6(3.54%) Tata Steel Share Price 159.52 03:59 PM | 8 Oct 2024 -4.85(-2.95%) Adani Power Share Price 640.6 03:59 PM | 8 Oct 2024 15.15(2.43%) One97 Communications Share Price 750.6 03:59 PM | 8 Oct 2024 98.75(15.15%) Punjab National Bank Share Pri...

[hfe_template id='11223'] [ad_1] Shares of Indus Towers rallied 6.2% to a day’s high of Rs 412.45 on the BSE after global brokerage firm Citi suggested buying the stock on any dips, with a target price of Rs 500 and a maintained buy rating. Citi stated that the amount of past dues that VI repays to Indus in Q2 FY25 should ideally rise quarter-on-quarter, given the tariff hikes. The firm also recommends using any weakness in the share price as an enhanced buying opportunity, citing an attractive dividend yield of 6-7%. Last week, global brokerage firm BofA set a target price of Rs 450 for the stock. In its comments on the AGR decision, the firm noted that there is no direct impact on Indus, but a derivative effect may occur, with no expected impact on tenancy growth. However, a multiple de-rating is likely. There is only a low possibility of a lump-sum payment or any special dividend at this time. On September 19, the stock fell by 14% during the intraday session followin...

[hfe_template id='11223'] [ad_1] Domestic markets extended their rebound, gaining nearly half a percent on Tuesday, supported by a recovery in global indices. In today's trade, shares of HDFC Bank, Vodafone Idea, Dr Reddy's, RIL, IndiGo among others will be in focus due to various news developments. Vodafone Idea Vodafone Idea has in recent weeks approached state-owned lenders Power Finance Corp. (PFC) and REC Ltd for loans to meet medium-term funding requirements, ET reported. Dr Reddy's Dr Reddy's Laboratories (DRL) on Tuesday issued a clarification after the Congress party alleged that the company benefited from its association with Sebi chairperson Madhabi Puri Buch's husband Dhaval via Agora Advisory Pvt Ltd. Reliance Industries Reliance Industries has fixed September 20 as the last date for paying call money on partly paid shares. IndiGo The Bureau of Civil Aviation Security (BCAS) has reduced the quantum of penalty imposed on the company from R...

[hfe_template id='11223'] [ad_1] The first quarter earnings are coming to a fag end and as many as 528 companies will announce their quarterly numbers on Monday. Key results to watch out for include that of IRFC, Vodafone Idea, NMDC, Hudco, SJVN and Voltas. Apart from the above, companies like AIA Engineering, Endurance Technologies, Nalco, Hindustan Copper, ITI, Natco Pharma, Olectra Greentech, Happiest Minds, Balrampur Chini Mills, Sunteck Realty among others will also declare their quarterly results. Vodafone Idea Q1 expectations Vodafone Idea is expected to report a flat revenue for the quarter ended June 2024, owing to losses in subscriber base coupled with a flattish Average Revenue Per User (ARPU), according to estimates by four brokerages. The estimated revenue for the reporting quarter is likely to be between Rs 10,600-10,709 crore. Meanwhile net losses for the company could be in the range of Rs 7,489-8,100 crore, the estimates revealed, which have been sourced...

[hfe_template id='11223'] [ad_1] Indian Railway Finance Corporation Share Price 179.79 03:59 PM | 9 Aug 2024 -1.13(-0.63%) One97 Communications Share Price 510.85 03:59 PM | 9 Aug 2024 2.36(0.47%) YES Bank Share Price 23.94 03:59 PM | 9 Aug 2024 0.02(0.09%) ITC Share Price 495.9 03:59 PM | 9 Aug 2024 1.15(0.24%) HDFC Bank Share Price 1650.2 03:59 PM | 9 Aug 2024 7.5(0.46%) Tata Motors Share Price 1068.1 03:59 PM | 9 Aug 2024 26.35(2.53%) Zomato Share Price 267.09 03:59 PM | 9 Aug 2024 1.5(0.57%) Adani Enterprises Share Price 3187.55 03:57 PM | 9 Aug 2024 20.0(0.64%) Infosys Share Price 1770.75 03:59 PM | 9 Aug 2024 27.6(1.59%) Reliance Industries Share Price 2948.6 03:59 PM | 9 Aug 2024 50.35(1.74%) Adani Power Share Price 695.4 03:58 PM | 9 Aug 2024 3.86(0.56%) Vedanta Share Price 428.85 03:58 PM | 9 Aug 2024 6.56(1.56%) Indian Renewable Energy Development Agency Share Price 243.45 03:59 PM | 9 Aug 2024 -4.36(-1.76%) NHPC Share Price 97.77 03:59 PM | 9 Aug 2024 -1.02(-1...