The price action witnessed strong volume action in the stock with over 35.76 crore shares changing hands on the NSE in the intraday trade around 12 pm. Today's rally takes the gains over 40% in the past one month.

The cash-strapped company said that it had received communication from a promoter group entity promising financial support of up to Rs 2,000 crore if required to meet payment obligations.

Exceeding the 20-day SMA indicates potential shifts in market dynamics and investor sentiment.

Last month, Boston-based ATC had informed the US Securities and Exchange Commission (SEC) that Vis OCDs would mature in two tranches of Rs 800 crore each on August 27, 2023 and August 27, 2024. That has now changed.

"We have submitted a letter to DoT that we propose to pay the spectrum auction instalments of Rs 1,680 crore towards the 2022 auction, which is due on August 17, by availing the grace period of 30 days with interest, in accordance with the terms of NIA (Notice Inviting Applications)," Vodafone Idea chief financial officer Murthy GVAS said during the earnings calls.

Samsung is conducting proof of concepts with Vodafone in 20 sites in Tamil Nadu, and with Mavenir in and around Punjab.

India's top three telcos are expected to add up to 25% more to their existing headcount in FY24, on the back of a 35% addition in FY23, as they double down on 5G coverage expansion and monetisation and deepen 4G coverage. Industry executives and experts said hiring activity by the three telcos picked up in FY23 after a slowdown in FY22 as the pressures of the pandemic wore off.

Vodafone Idea (Vi) has informed the Department of Telecommunications (DoT) that it plans to pay the second instalment of Rs 1,680 crore for 5G spectrum purchased in last year's auction by utilising the 30-day grace period option available under the 5G spectrum sale rules. The company had earlier purchased 5G airwaves worth Rs 18,799 crore and opted to clear its dues to the government in 20 equal instalments.

As per DoT officials, if the company sticks to its payment plans, the department will not invoke the bank guarantees. But if it fails, then the guarantees will be encashed, they said, adding that the DoT has not met any potential investor in the company. "They (Vi) have written to us that significant progress has been made with several groups of investors but nothing specific has been informed by the company," an official privy to the details told ET on condition of anonymity.

Both Jio and Vi have told the Telecom Regulatory Authority of India (Trai) that in the interest of uniformity in regulation and ensuring passenger safety, communication services related to aviation must be brought under a permanent regulatory oversight by inclusion of a new authorisation under the unified licence.

Senior executives at the top carriers said that bank guarantees (BGs) serve no purpose and block a lot of capital, which can otherwise be used for network infrastructure, especially with 5G rollouts well on their way. As per estimates, around Rs 2,600 crore worth of BGs are lying with the government currently.

Analysts warn that the Indian government's plans to convert statutory dues into equity in Vodafone Idea could limit the cash-strapped telco's ability to attract external equity funding from third-party investors. Vodafone Idea faces more than Rs 40,000 crore worth of annual payouts in regulatory dues post moratorium.

Indias top telcos are likely to spend less on 5G airwaves in the next auction compared to the last one in July 2022 as they have adequate spectrum holdings, ratings agency Crisil said. The government had mopped up over Rs 1.5 lakh-crore from Indias first auction of 5G spectrum last year, selling around 71% of the over 72 GHz of airwaves it put on the table.

A battle is brewing between private Indian telcos Reliance Jio, Bharti Airtel and Vodafone Idea on the one hand and global companies such as Amazon operating in the country on the other over the definition of international SMS and telecom traffic. US e-commerce giant Amazon contends that there is a need to define international SMS because global messaging rates are under forbearance and telcos can exploit the lack of a definition to charge higher rates.

Reliance Jios net customer addition though slowed down in June 2023 at 2.3 million as compared to the 3 million net additions in previous month, according to the latest subscriber data released by the Telecom Regulatory Authority of India (Trai) Tuesday. Jio's closest competitor Bharti Airtel added 1.4 million subscribers (1.3 million in May) .

The meeting, around mid-August, aims to build momentum to drive all Region 3 nations (including India) to collectively push for using the 6 GHz spectrum band for cost-effective rollout of 5G services, in the run up to the World Radio Communications-2023 conference in Dubai in December where a final decision will be taken.

Indias mobile services market is heading towards an effective duopoly by end of the current fiscal with Reliance Jio and Bharti Airtel expected to jointly corner as much as 83% revenue market share (RMS) at the expense of cash-strapped Vodafone Idea (Vi).

Reliance Jio, Bharti Airtel, and Vodafone Idea have opposed the call to define international traffic, stating that the current system is effective. This puts them at odds with global technology firms like Amazon and Truecaller, who have requested a clear definition. The telcos argue that instead of defining international traffic, measures should be implemented to combat the grey market.

The pending litigations include a Rs 3,857 crore demand – the highest – raised by the Department of Telecommunications (DoT) on erstwhile Vodafone entities for transfer and merger of licences in India. The second-highest claim of Rs 3,599 crore relates to a one-time spectrum charge (OTSC), also raised by the DoT.

The telco said that it has been unable to renew additional BGs as this requires 100% cash margin to be provided to the banks. According to a banker, the decision to ask for a 100% cash margin reflects that banks are extremely averse to lending to Vi, even if the BG sums are tiny.

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Vodafone Idea has paid around 10% of its licence fee and spectrum usage charge for the June quarter and is likely to have sought more time from the government to clear the balance in multiple tranches, two people aware of the matter said.

Vodafone Idea has partnered with Truecaller to offer secure customer communication using the latters Verified Business Caller ID solution, said the telecom operator. Scammers posing as customer service agents often post fraudulent contact details on fake social media pages and websites that make consumers vulnerable to fraud.

Jio and Airtel also have a headstart over Vi on the 5G services front, having covered over 6,000 and 3,500 cities/towns respectively. Vi hasn't even announced a launch date, shackled by its delayed fundraise.

Officials aware of the details told ET that Trai is likely to treat E and V bands separately as they have slightly different characteristics. While E band (71-76 GHz and 81-86 GHz) is being primarily used for 5G backhaul, the usage of V band spectrum (57-64 GHz and 64-71 GHz) has not become prevalent so far.

The Indian stock market witnessed a remarkable feat on September 15 as several midcap stocks surged to reach their 52-week highs.

Lenders of Vodafone Idea (Vi) are urging the company's promoters to inject more equity in order to qualify for future loans. The recent ₹2,000 crore financial support offered by the promoters is deemed inadequate due to Vi's weak credit rating. The banks, led by State Bank of India (SBI), have advised that a larger equity infusion is necessary to compensate for the lower credit rating and instill confidence in lenders.

The underperformance in the stock was because the Street saw limited earnings upgrade triggers and lower visibility on event-based triggers such as listing of Jio and/or Reliance Retail, besides concerns over high capex and resultant rising net debt.The initial euphoria around RILs foray into the financial services business also faded given the lack of visibility on the business roadmap ahead

The amendments made in the Right of Way rules for telecom infrastructure will speed up the 5G rollout and enhance the ease of doing business, said India's Cellular Operators Association of India (COAI). The COAI, which includes Reliance Jio, Airtel, and Vodafone Idea, highlights that the provision will allow priority telegraph services restoration, preventing major disruptions in service to users.

"Our analysis shows that Vi will be able to rollout 5G only in 10 circles in seven states with its annual internal accrual of around '83 billion (without fundraise), as Nokia and Ericsson have refused to supply 5G gear to Vi on credit," Emkay analysts said. This, they added, would mean 15% 5G coverage for Vi.

According to the Telecom Regulatory Authority of India (Trai), Reliance Jio added 3.04 million mobile users in April 2023, significantly outpacing Bharti Airtel. This suggests that Jio has gained the majority of customers who switched from Vodafone Idea. Meanwhile, Airtel only reported 76,328 additions due to recent tariff hikes. Vodafone Idea lost nearly 3 million customers, bringing its mobile user base down to 233.75 million.

Increased mobile number portability (MNP) requests in India's telecom sector indicate heightened competition, driven by Reliance Jio and Bharti Airtel's 5G efforts. This could lead to higher sales and marketing costs. Vodafone Idea (Vi) continues to struggle in retaining subscribers, particularly 3G/4G users, emphasizing the need for significant funding. Vi's lack of 5G rollout has impacted its subscriber base, while Jio and Airtel are gaining subscribers.

Reliance Jio, the market leader, has yet to implement increments and bonuses for the period, those in the know said. "Both Airtel and Vodafone Idea have given out increments in the 7-8% range this year. While bonuses at Airtel were up to 110%, Vodafone Idea also gave out 100% bonuses," said an industry executive.

Shares of Indian telecom operators, including Bharti Airtel and Vodafone Idea, fell between 2% and 3% after Reliance Jio announced plans to launch a $12 4G phone targeting the untapped entry-level 2G market in India. Analysts at Jefferies predict that Jio's new phone could boost its subscriber additions by 20-22 million annually, resulting in a 2-3% increase in revenue and operating earnings in the next fiscal year. The move is expected to have a negative impact on the revenue and operating earnings of rival Bharti Airtel by 1-2%.

The approval for Vi's deal with ZTE from NSCS came after the Indian telco submitted documents and specified that it's an expansion/upgradation of the existing network, and not a fresh contract, a government official told ET. The networks in the circles also have equipment from Huawei, but the expansion work will be done only by ZTE.

According to the Telecom Regulatory Authority of India (Trai), Reliance Jio added 3.04 million mobile users in April 2023, significantly outpacing Bharti Airtel. This suggests that Jio has gained the majority of customers who switched from Vodafone Idea. Meanwhile, Airtel only reported 76,328 additions due to recent tariff hikes. Vodafone Idea lost nearly 3 million customers, bringing its mobile user base down to 233.75 million.

European telecom gear makers Nokia and Ericsson have refused to supply 5G equipment to Vodafone Idea (Vi) on credit, people aware of the matter said. Financially stressed Vi, which has yet to place an order for 5G equipment, was seeking relaxation in payment terms, they told ET.