Vodafone Group Stock News

NEW DELHI: Promoter Vodafone plans to infuse up to Rs 3,375 crore into debt-ridden Vodafone Idea Ltd as part of the company’s proposed raising of funds worth Rs 14,200 crore. Besides Vodafone, Aditya Birla Group plans to pump in up to Rs 1,125 crore, according to a regulatory filing on Friday. The telecom operator will […] The post Vodafone plans to infuse up to Rs 3,375 crore into debt-ridden Vodafone Idea first appeared on National Business Mirror .

Ringcentral with ticker code (RNG) have now 25 analysts covering the stock with the consensus suggesting a rating of ''Buy''. The range between the high target price and low target price is between 300 and 165 and has a mean target at 230.4. Now with the previous closing price of 119.57 this now indicates there is a potential upside of 92.7%. The 50 day moving average now sits at 166.92 and the 200 day moving average is 226.83. The market capitalisation for the company is $11,356m. You can visit the company''s website by visiting: https://www.ringcentral.com [stock_market_widget type="chart" template="basic" color="green" assets=RNG" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $21,883m based on the market concensus. RingCentral provides software-as-a-service solutions that enable businesses to communicate, collaborate, and connect in North America. Its products include RingCentral Office that provides communication and collaboration across various modes, including high-definition voice, video, SMS, messaging and collaboration, conferencing, online meetings, and fax; RingCentral Contact Center, a collaborative contact center solution that delivers omni-channel; and RingCentral Engage Digital, a digital customer engagement platform that allows enterprises to interact with their customers.

Besides Vodafone, Aditya Birla Group plans to pump in up to Rs 1,125 crore, according to a regulatory filing on Friday

Besides Vodafone, Aditya Birla Group plans to pump in up to Rs 1,125 crore, according to a regulatory filing on Friday.

VIL has already approved the fund raising plan, which includes Rs 4,500 crore coming in from Aditya Birla Group and Vodafone, while the remaining amount of Rs 10,000 crore would be mopped up by way of equity or debt instruments.

Sky will use Vodafone’s network to enter the Irish market following a wholesale partnership between the two companies.

Vodafone New Zealand Ltd sought prospective buyers for its wireless phone towers that provide coverage to about 98% of the country’s population, Bloomberg reports . Infratil Ltd (OTC: IFUUF ) and Brookfield Asset Management Inc (NYSE: BAM ) own Vodafone New Zealand. Vodafone looks … Full story available on Benzinga.com

After remitting funds to Indus, Vi is likely be left with only ₹2,550 cr to plug the gap to peers on network coverage

Indian benchmark indices ended the week on a negative note. Nifty50 closed 1.5 percent lower at 16,245.35 while Sensex ended at 54,333.81, down 1.4 percent. Here are key stocks that moved the most in today''s trade:

Analysts said Vi needs a much bigger dose of equity financing to be able to invest at least Rs 20,000 crore on its network in the next 2 years to improve competitiveness and drive average revenue per user (ARPU) growth.

European telecoms bosses are breathless about 5G mobile networks, but not in a good way. Delegates at the Mobile World Congress (MWC), the industry tech-fest that rebooted in Barcelona this week, were treated to dizzying visions of humanity’s wired, digital future. For chief executives like Vodafone’s Nick Read, hype can quickly lead to hyperventilation.

NEW DELHI: Vodafone Idea''s (VI) board approval to allot preference shares to promoters at a premium was positive but analysts noted that most of this Rs 4,500 crore-fundraising would go towards covering the telco''s payables towards Indus Towers, leaving limited funds to invest in networks.Edelweiss said the long-awaited fund infusion is definitely a positive for Vodafone Idea but this is only a small part of the estimated Rs 15,000 crore capital raise."Vodafone group''s capital infusion will come with a caveat that it will be used for repayment of Indus Towers (Indus) dues, which, to an extent, reduces ability to invest in the network. We believe that for long term sustainability of the company significant capital infusion and tariff hike more than doubling the ARPU are essential," the brokerage said.The stock fell 7.67 per cent to hit a low of Rs 10.23 in Friday''s trade. Vodafone group entities will infuse Rs 3,375 crore from the proceeds of its stake sale in Indus Towers and the Aditya Birla Group entity will infuse the remaining Rs 1,125 crore.The equity issue will lead to a 12 per cent dilution on the current equity base.Vodafone Idea intends to further raise capital of up to Rs 10,000 crore through equity/debt instruments in one or more tranches.

In its meeting held on March 3, the VIL Board approved an equity infusion of up to Rs 4,500 crore by promoter entities, and fresh capital raise of up to Rs 10,000 crore. The company will issue 338 crore shares at a share price of Rs 13.3 per share on a preferential basis to promoter entities.

At present, Vodafone Group and ABG own 44.39% and 27.66%, respectively, in Vodafone India. The ownership structure is likely to see significant changes, especially with the telco opting to convert the interest, which accrues due to the deferred payment into government equity.

VIL informed that its board had approved a proposal to raise Rs 14,500 crore from its promoters and investors through equity, warrants and convertible debentures.