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Vodafone Idea to report a sizeable loss in September quarter, say analysts
Posted on 13th November 2018
MUMBAI: Vodafone Idea, India’s newest and largest telecom operator, will on November 14 announce its first results since its inception, with analysts predicting a sizeable loss in its fiscal second quarter ended September 30, dragged down by low subscriber additions and rising 4G network expansion costs.

Brokerages IIFL Institutional Equities and ICICI Securities have pegged Vodafone Idea’s estimated net loss at around Rs 2,600 crore, though Credit Suisse has projected a lower number of Rs 1050.5 crore. Revenue is estimated to be in the range of Rs 7,813-8,106 crore for the September quarter.

The telco is also expected to shell out penalty charges to the tune of Rs 3,000-3,500 crore for exiting tower contracts which will add to its financial burden. “The company’s capex investments, plans of revenue growth, investor guidance and provisions for bad debt and its 4G expansion chart will be closely tracked,” said Sandip Das, senior advisor at Analysys Mason.

He further said that industry watchers will also need to keep in mind that the merger has just been completed and the company is still in the “regrouping phase”. Vodafone India and Idea Cellular completed their merger in August end this year to create the country’s largest telco by subscriber base and revenue share. But in September, amid a continuing price war with Reliance Jio, Vodafone and Idea separately lost 2.6 million and 4 million subscribers, respectively, according to Cellular Operators Association of India (COAI) data.

As per earlier estimates, the new entity had started its operations with a combined debt of Rs 1.09 lakh crore at the end of June, and a cash balance of Rs 19,300 crore after equity infusion by the parents of both telcos.

“The synergy benefits from the merger, absolute profit before tax (PBT) and how it has fared compared to competition will be important,” said SP Tulsian, founder of Premium Investments. Bharti Airtel its fourth straight profitable quarter, with an 11.3% expansion sequentially in the bottom line for the July-September period on the back of strong user additions and increased data usage.

But Airtel managed to spring a surprise net profit on a consolidated basis in the second quarter, helped by one-time exceptional gains, but losses worsened for India operations as higher costs compounded the woes for the erstwhile market leader which also lost customers in a fierce price war with Jio.

Related Companies: IDEA Cellular Limited   

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RBI Governance: Under discussion – Board for further examination of framework
Posted on 15th December 2018
The central board of the Reserve Bank of India (RBI) on Friday discussed its governance framework and decided the matter required further examination, the central bank said in a statement on its website.

According to sources privy to the deliberations, Subhash Chandra Garg, economic affairs secretary, made a presentation at the meeting about how the governance structure for the RBI should be examined.


Microsoft’s bug bounty: How this Kerala-based security engineer won an undisclosed amount
Posted on 15th December 2018
In a huge achievement, a Kerala-based application security engineer has won bug bounty from global tech-giant Microsoft for discovering a series of vulnerabilities that left over 400 million Microsoft users’ accounts open to hacking. Reportedly, these accounts were from Office 365 to Outlook emails.

Sahad NK, who works as a security researcher with cyber security portal Safetydetective.com, came across multiple vulnerabilities and reported to Microsoft. Sahad, with the help of fellow security researcher Paulos Yibelo, reported the bug to the company in June and were fixed by November end.


ONGC board to consider share buyback on Dec 20
Posted on 15th December 2018
State-owned Oil and Natural Gas Corp (ONGC) Friday said its board will consider buyback of company shares at a meeting on December 20.

This follows Government pushing cash-rich PSUs to use their funds to buy back shares or pay a higher dividend. The Government is looking to bridge budgetary deficit through higher receipts of dividend as well as selling its shares in PSUs in the buyback programmes.


Indian Oil shares rise 3.10% on share buyback
Posted on 15th December 2018
Mumbai: Shares of Indian Oil Corp. Ltd rose over 3% Friday after India’s largest oil firm on Thursday said its board of directors approved the buyback of 29.76 crore equity shares of the company for ₹4,435 crore. The share buyback price represents a 8.6% premium to Indian Oil’s Thursday closing price of ₹137.20 on BSE. On Friday, Indian Oil shares rose 3.10%, or ₹4.25, to ₹141.45 apiece on the BSE while the benchmark Sensex closed flat at 35,962.93 points.

Relief to RCom: Supreme Court tells govt to let it sell spectrum to Reliance Jio, but with a condition
Posted on 15th December 2018
The Supreme Court on Friday asked the department of telecommunications (DoT) to grant a no objection certificate (NoC) to Reliance Communications to trade its spectrum with Reliance Jio Infocomm by Monday on the condition that its subsidiary, Reliance Realty, does not redeem the preferential shares without DoT’s nod.

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