Today is the last day for Vodafone Idea to deposit a bank guarantee of Rs 6,090 crore. According to sources, the government has refused to give any relief to the company. The company has not given any reaction to the news. Giving more details on this news, Aseem Manchanda of CNBC-Awaaz told that Vi has not got any relief from the government. Vi (Vodafone Idea) will have to deposit the bank guarantee today itself.
Vodafone Idea (Vi) has to deposit a bank guarantee of Rs 6090 crore. The Department of Telecommunications had asked for a bank guarantee from the company. Bank guarantee was asked for spectrum taken after 2015. Vi had sought relief from the government on this. The government has refused to give any relief. The company has not given any reaction to the news.
Let us tell you that the company is already in a huge debt of Rs 2.1 lakh crore. The company needs new investment and raising funds for bank guarantee is a challenge. The government has made it clear that no relief will be given to the company. In such a situation, Vi may have to increase its tariff plans, which may affect the users. Apart from this, the company may lag behind other companies by increasing the tariff alone. If the company is unable to deposit this bank guarantee on time, then serious problems may arise regarding license and spectrum in the future. Reliance Jio and Airtel can benefit from increasing competition in the telecom sector.
If we look at the movement of Vodafone Idea shares, at present at 11.45 am, this stock was seen at Rs 7.55 on NSE with a gain of 0.01 points i.e. 0.13 percent. Today, its day's high is Rs 7.64 and day's low is Rs 7.46. The 52 week high of the stock is Rs 19.18 and 52 week low is Rs 6.61. The volume of the stock is around 158,040,286 shares. This stock has increased by 1.07 percent in 1 week. At the same time, it has fallen by 17 percent in 1 month and 47 percent in 1 year.
