Vodafone Idea Shares Surge on Reports of Short-Term Loan Repayment

Vodafone Idea, the ailing Indian telco, witnessed a surge in its shares by up to 5% on Thursday, following reports of its prepaid short-term loan of approximately Rs 2,700 crore with the State Bank of India (SBI). The stock touched an intraday high of Rs 9.42, marking a 5.01% increase from its previous close of Rs 8.97 on the Bombay Stock Exchange (BSE). This gain comes amidst reports that the company is seeking fresh funds to sign equipment supply deals for its 5G network, with Reliance Jio already announcing its 5G launch starting October 25.

Key Takeaways:

• Vodafone Idea's shares rose up to 5% on Thursday amid reports of prepaid short-term loan repayment to SBI.
• The stock touched an intraday high of Rs 9.42, with a 5.01% increase from its previous close of Rs 8.97 on BSE.
• The telco is reportedly seeking fresh funds to sign equipment supply deals for its 5G network.
• Vodafone Idea has a total market cap of Rs 29,774 crore, with around 284.31 lakh shares changing hands, amounting to a turnover of Rs 26.41 crore on BSE.
• The company has a 5G launch timeline dependent on arranging funds and gear procurement, as per its newly named CEO Akshaya Moondra.
• Vodafone Idea reported a loss of Rs 7,296.7 crore in the quarter ended 30 June, 2022.
• The telco's revenue from operations increased 13.7% to Rs 10,410.10 crore in the quarter under review.

Statistics:

• Share price increase: up to 5% on Thursday
• Revenue from operations: Rs 10,410.10 crore (13.7% increase YoY)
• EBITDA: Rs 4,330 crore
• Loss for the quarter: Rs 7,296.7 crore
• Total market cap: Rs 29,774 crore
• Number of shares: 284.31 lakh
• Turnover: Rs 26.41 crore
• Share price: Rs 9.42 (intraday high)

Sources:

• Global Data Point
• SyndiGate Media Inc.
• Bombay Stock Exchange (BSE)