Idea
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AGR-hit Vodafone Idea wants 7-8 times hike in mobile data tariffs
Business | Feb 27, 2020, 07:12 PM ISTVodafone Idea has demanded fixing minimum tariffs for mobile data at Rs 35 per GB, around 7-8 times of current prices, and for calls at 6 paise per minute along with monthly charges from April 1 to enable it pay statutory dues and make its business sustainable.
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Vodafone Idea says 'not in a sound financial state', seeks govt support over AGR dues
Business | Feb 27, 2020, 06:17 PM ISTTelecom firm Vodafone-Idea Thursday said that it is not a "sound financial state" and sought help from the government over the pending AGR dues. The troubled company has written to the telecom department expressing its inability to pay full AGR dues unless the government takes urgent measures.
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Vodafone Idea shares plunge over 12 percent
Business | Feb 24, 2020, 07:44 PM ISTShares of Vodafone Idea fell nearly 12 per cent on Monday after Bharti Infratel extended the deadline for its merger with Indus Towers by two more months to April 24.
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Airtel Chairman Sunil Mittal: AGR issue an unprecedented crisis for telecom sector
Business | Feb 20, 2020, 07:30 PM ISTBharti Airtel Chairman Sunil Mittal on Thursday met Telecom Minister as AGR issue looms large on his company. After his meeting, Mittal described AGR crisis as "unprecedented" for Indian Telecom industry. Airtel has until March 17 to pay Rs 35,600 crore to the government as part of (Adjusted Gross Revenue) payment.
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Vodafone Idea faces survival battle; Crisil, India Rating, Brickwork downgrade rating
Business | Feb 20, 2020, 05:01 PM ISTTelecom major Vodafone Idea's survival is under serious doubt as the company's ratings have been downgraded by three agencies in the span of just two days. After India Ratings, Brickwork Ratings, Crisil on Thursday downgraded Vodafone Idea's rating on non-convertible debentures of Rs 3,500 crores.
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Vodafone Idea pays Rs 1,000 crore towards AGR dues
Business | Feb 20, 2020, 01:57 PM ISTTelecom firm Vodafone Idea on Thursday paid Rs 1,000 crore to the Department of Telecommunications (DoT) towards its statutory dues. This was in addition to the part-payments Vodafone-Idea had made previously.
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Govt should offer one-time settlement to telcos for principal amount: Ex-Telecom Secretary
Business | Feb 19, 2020, 10:19 PM ISTFormer finance secretary Subhash Chandra Garg on Wednesday said the government should offer a one-time settlement scheme to the telecom companies to pay the principal due amount as per the AGR definition and waive the penal interest and penalties.
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Vodafone Idea shares surge over 38 per cent
Business | Feb 19, 2020, 06:25 PM ISTVodafone Idea's shares on Wednesday closed over 38 per cent amid reports that the government in unlikely to invoke the company's bank guarantees as of now. On the BSE, the stock gained as much as 48.18 per cent to Rs 4.49 during the day.
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'Can't say anything': Kumar Mangalam Birla on Vodafone Idea insolvency question
Business | Feb 19, 2020, 12:16 PM ISTVodafone Idea Chairman Kumar Mangalam Birla met telecom secretary Anshu Prakash on Tuesday amid raising concerns that the company may head to insolvency if the government takes coercive action against the telecom companies for failing to pay AGR dues.
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AGR dues: Vodafone Idea stock falls over 11 percent
Business | Feb 18, 2020, 05:48 PM ISTShares of Vodafone Idea on Tuesday settled over 11 per cent down in the wake of continuing business uncertainty overpayment of statutory dues.
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Vodafone Idea stock falls over 16% on rating downgrade
Business | Feb 18, 2020, 12:07 PM ISTShares of Vodafone Idea on Tuesday tanked over 16 per cent due to rating downgrade on AGR dues and other issues of the company. On the BSE, the stock plunged 14.91 per cent to trade at Rs 2.91 in early market hours. Later it was trading with a loss of 8.77 per cent at Rs 3.12.
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AGR dues: Who owes what
Business | Feb 17, 2020, 07:12 PM ISTA number of telecom firms are in troubled waters with over a massive Rs 1.47 lakh crore of adjusted gross revenue (AGR) dues to pay. These include top telcos -- Bharti Airtel and Vodafone Idea -- who owe about 60 percent.
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Airtel, Vodafone Idea, Tata Teleservices likely to pay AGR dues today: DoT source
Business | Feb 17, 2020, 08:36 AM ISTThe three companies are jointly liable to pay dues of over Rs 1 lakh crore, but they have informed the Department of Telecom (DoT) of making only partial payment, as per their representatives.
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AGR dispute: Vodafone Idea could head for bankruptcy
Business | Feb 16, 2020, 06:43 PM ISTVodafone Idea could be the largest bankruptcy ever in India as the inability to pay dues under the adjusted gross revenue (AGR) may push the Vodafone Plc and Aditya Birla joint venture in that direction.
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Vodafone Idea to pay AGR dues but uncertain on future course; DoT mulls penal action
Business | Feb 15, 2020, 10:18 PM ISTDebt-ridden telecom operator Vodafone Idea on Saturday said it is assessing the amount that can be paid towards AGR dues, even as it flagged concerns over the continuation of its business.
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Vodafone Idea faces uncertain future over AGR woes
Business | Feb 14, 2020, 11:25 PM ISTAs the sword of Damocles hangs over Vodafone Idea, uncertainty continues to mire the Indian telecom sector which has seen fall of several telcos such as Etisalat DB, Reliance Communications, Sistema Shyam and Aircel. As the sword of Damocles hangs over Vodafone Idea, uncertainty continues to mire the Indian telecom sector which has seen fall of several telcos such as Etisalat DB, Reliance Communications, Sistema Shyam and Aircel.
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Ultimatum for Telcos: Bharti Airtel, Vodafone Idea asked to clear dues by 11.59 pm today
Business | Feb 14, 2020, 07:10 PM ISTIn an ultimatum, the Department of Telecommunications has ordered firms including Bharti Airtel and Vodafone Idea to clear dues before Friday midnight.
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AGR-hit Vodafone Idea postpones Q3 analyst call
Business | Feb 14, 2020, 03:39 PM ISTVodafone Idea, which is staring at statutory dues of about Rs 53,000 crore, has postponed its post-earnings conference call with analysts, which was earlier scheduled for Friday.
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Amid widening losses, Vodafone Idea shares tank nearly 19%
Business | Feb 14, 2020, 02:10 PM ISTShares of Vodafone Idea (VIL) on Friday tumbled nearly 19 per cent after the company reported widening of losses to Rs 6,438.8 crore in the third quarter of 2019-20. The scrip tanked 18.30 per cent to Rs 3.66 on the BSE.
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Vodafone Idea losses widen to Rs 6,438.8 crore in December quarter
Business | Feb 13, 2020, 07:33 PM ISTVodafone Idea on Thursday reported widening of losses to Rs 6,438.8 crore in October-December 2019 against Rs 5,004.6 crore in the year-ago period as the AGR dues-hit telco reeled under the impact of increased finance costs and higher depreciation of assets.