After rising for two consecutive sessions, the price of Vodafone Idea’s shares gave up early gains to trade more than 2% down on Thursday. Following the announcement of the launch of 5G services in Mumbai, the telecom operator saw a gain of around 5% in the previous session. The telecom stock gave up gains to trade 2% down today after rising as much as 1.87% to ₹7.59 apiece on the BSE. On Wednesday, Vodafone Idea, a telecom provider owned by the Aditya Birla Group, announced the arrival of its 5G services in Mumbai, providing residents with next-generation connection. Beginning today, Vi’s 5G services will be accessible throughout the city thanks to its substantial investment in next-generation infrastructure and competitive spectrum holding.
Vodafone Idea stated in a regulatory filing on March 19 that it is dedicated to providing increased capacity, greater performance, and dependability. In its 5G deployment in the city, Vodafone Idea has teamed up with Nokia to integrate the newest generation of equipment, which is intended to be both leaner and energy efficient, making the network more sustainable, the company noted. In order to provide the greatest customer experience, Vodafone Idea has also implemented an AI-based SON (Self-Organizing Networks) system, which continuously optimizes network performance.
Tariffs for Vodafone Idea 5G
With rates starting at just ₹299, Vodafone Idea 5G’s inaugural deal gives Vi users unlimited 5G data, making it the most affordable choice available, the company stated. Having discussions with Starlink and other satcom experts. In addition, Vodafone Idea clarified to stock exchanges that it was in discussions with Starlink and other satellite communication providers in relation to a news article. “We would like to notify you that, as part of its regular operations, the company is constantly looking into new projects and partnerships with different parties to improve service quality and grow its telecom offerings. In an exchange filing on March 19, Vodafone Idea stated, “The Company is in exploratory talks with various Satcom providers, including Starlink.”
Vodafone Idea Fundraising
Vodafone Idea has received ₹26,000 crore in equity over the past 12 months, including ₹18,000 crore from the largest FPO (Follow-on Public Offer) in India and ₹4,000 crore from promoters. This has allowed the business to accelerate its capital expenditure deployment. In order to consistently improve the customer experience, Vodafone Idea plans to offer 5G services in strategic regions and expand its 4G network to serve about 90% of Indians, with a budgeted capital expenditure of ₹50,000 to 55,000 crore over three years, the firm said.
Vodafone Idea Stock Price Performance
Vodafone Idea share price has fallen 10% in one month, and dropped over 8% on a year-to-date (YTD) basis. The beleaguered telecom stock has declined 30% in six months and 42% in one year. At 10:00 AM, Vodafone Idea shares were trading 2.55% lower at ₹7.26 apiece on the BSE.