Social News XYZ     

Vodaphone Idea lenders to struggle in near-term: Analysts

Vodaphone Idea lenders to struggle in near-term: Analysts

Mumbai, Nov 14 (SocialNews.XYZ) Vodafone Idea may see a "significant" erosion in its market cap after the company on Thursday reported a massive net loss of Rs 50,921 crore in the quarter ended September 30, market players said.

Analysts said that the company's lenders, especially those who have not provided for the Vodafone Idea's Q2 loss, might struggle on the exchanges in the near term.

 

"Most private banks like HDFC, Kotak, Yes Bank, Axis Bank and IndusInd Bank are lenders of Vodafone Idea, but banks which may not have provided for the losses will have a difficult time in the near term," said Narendra Solanki, Head, Fundamental Research, AVP Equity Research, Anand Rathi Shares & Stock Brokers.

Deepak Jasani of HDFC Securities also said that Vodafone Idea's losses may cause significant damage to its share value, while its lenders will also feel the pinch in the near term.

Vodafone Idea on Thursday posted a massive net loss of Rs 50,921 crore in the quarter ended September 30 on account of the Supreme Court judgement on the Adjusted Gross Revenue (AGR) matter.

Vodafone Idea said in a regulatory filing that the SC order on AGR has resulted in liabilities on accounts of licence fee and spectrum charges to the tune of Rs 44,150 crore which has to be paid within three months.

The company shares on the BSE ended lower by 21 per cent to Rs 2.95 apiece on Thursday.

Source: IANS

Facebook Comments
Vodaphone Idea lenders to struggle in near-term: Analysts

About Gopi

Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.

He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.

When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.

He can be reached at gopi@socialnews.xyz

%d bloggers like this: