The post Vodafone and Cyient unveil AI-Powered Network Configuration Management Solution to deliver Data driven, Smarter Network Operations appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Bajaj Finance Ltd on Monday replaced State Bank of India to become India’s tenth most-valued firm by market capitalisation on the BSE.

The post Bajaj Finance among top 10 on BSE appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

It has touched an intraday high of Rs 4.09 and an intraday low of Rs 3.60.

Telecom operators Bharti Airtel, Vodafone Idea and Tata Teleservices are likely to make payment for adjusted gross revenue (AGR) dues on Monday to avoid stringent punitive action from the Telecom Department, according to official sources.

The DoT issued fifth and final notice to telecom operators on February 14 for making payment on the same day, but none of the companies paid the dues.

CLSA has maintained sell call on the stock and cut target to Rs 3.50 from Rs 5.50 per share.

Broking house factor in 50 percent of AGR dues risk in its valuation.

It raises FY20-22 forecasts by 2-4 percent as Q3 revenue & EBITDA are ahead of estimates.

The company has received letters from Department of Telecommunications (DoT) directing immediate payment. The company is currently assessing the amount that it will be able to pay to DoT towards the dues calculated based on AGR (Adjusted Gross Revenue), as interpreted by the Hon’ble Supreme Court in its order dated 24 October 2019. The Company proposes to pay the amount so assessed in the next few days, company said in the press release.

According to Motilal Oswal the Supreme Court order leaves telecom companies with limited options to get relief from legal or government sources.

A duopoly market will likely to benefit Bharti Airtel and raises target to Rs 650 per share.

The incremental EBITDA potential for Bharti Airtel is at Rs 10,000 crore in FY22 and it can garner EBITDA of Rs 55,000 crore in FY22, without factoring any further ARPU increase.

Vodafone Idea’s debt burden is high, while Bharti better placed to make payments as it may continue to gain market share at an accelerated pace, said Axis Capital.

For Vodafone Idea, it’s tough to remain a going concern if there’s no change in order, while there is limited room for any change in decision either by government or any other SC bench, it added.

ICICIdirect believes that given Vodafone’s weak balance sheet and promoters’ earlier statement of their inability to infuse capital, the company is more likely to file for bankruptcy than meet the demand for the dues.

It has suspend the rating on Vodafone Idea, given this development.

It has reiterated that Bharti Airtel remains the preferred pick in the telecom space given its resilient performance amid challenging times with improving market share and relatively stronger balance sheet to weather the challenges.

At 09:32 hrs, Vodafone Idea Limited was quoting at Rs 3.84, up Rs 0.40, or 11.63 percent on the BSE.

The post Vodafone Idea to Pay AGR dues to DoT appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Two days ago, Rahul Bajaj had put a question in front of Home Minister Amit Shah and said that people are nervous about speaking. They feel that there will be no hearing in the government.

Vodafone Idea Limited Chairman Kumar Mangalam Birla on Friday said the company would have to shut shop if no relief is given to it in the wake of the Supreme Court (SC) judgement of 24 October that asked companies like his to pay dues of up to ₹92,000 crores to department of telecommunications (DoT) in three months.

Birla was speaking at the Hindustan Times Leadership Summit here.

“We will shut shop if we don’t get relief,” he said as he went on to say that he couldn’t call his telecom venture a failure.

Birla’s comments were quick to send Vodafone Idea shares tumbling in Friday’s trade, slipping 8.5% on the BSE to ₹6.69. The shares have trebled in less than six months from their 52-week low of ₹2.61. At the same time, the company faces an uncertain future.

Vodafone Idea owes the DoT an ₹40,000 crore while it has a cash balance of half of that. The SC order came in a 14-year-long case which had the DoT claiming that telecom companies had under reported their revenues and thus paid lower spectrum charges and other levies. DoT said that their revenues included income from dividends given by subsidiaries and sale of handsets bundled with services besides other sources. This was unsuccessfully contested by the telecom companies.

The DoT has since already asked the company to do their calculations in anticipation of the payment. Vodafone rival, Bharti Airtel Ltd, which owes DoT ₹21,682 crore in licence fee and another ₹13,904.01 crore as spectrum usage charges, plans to raise up to $3 billion to fund its payments. It too isn’t in the best of health but its future isn’t as bleak as Vodafone’s looks.

The companies have been expecting a relief from the government but none has come so far. A proposed two-year moratorium on dues may not help much.

The post Birla Says Vodafone Idea may have To Shut appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

Department of Telecommunication will give an option to the Telecom Service Providers (TSPs) to defer payment of the spectrum auction instalments due for 2020-21 & 2021-22, either for one or both years.  These deferred amounts bill be spread equally in the remaining instalments to be paid by TSPs. Interest as stipulated while auctioning of the concerned spectrum will however be charged so that NPV is protected.

The government will defer spectrum payments due from telecommunications companies for two years to help an industry ravaged by a years-long price war, mounting debt and a court decision last month demanding $13 billion in overdue fees.The moratorium will be for two years beginning April 2020.

Deferment of spectrum auction instalments will ease the cash outflow of the stressed TSPs and facilitate payment of statutory liabilities and interest on bank loans.  Continued operation by TSPs will give a fillip to employment and economic growth.  Improved financial health of TSPs will facilitate maintenance of quality of services to consumer.

The decision for deferring spectrum payment instalments for two years will be implemented within a fortnight.  Amendment to the License shall be issued expeditiously with the approval of Hon’ble Minister of Communications.

The post Cabinet approves relief to Telecom Sector appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.