Stock market news: Vodafone Idea shares tanks 5%

Stock market news: Vodafone Idea shares tanks 5%

NEW DELHI: Shares of Vodafone Idea traded 5.01 per cent down in Friday’s trade at 01:45PM (IST). Around 54,492,945 shares changed hands on the counter.

The scrip opened at Rs 11.46 and touched an intraday high and low of Rs 11.7 and Rs 10.95, respectively, in the session so far. The stock of

quoted a 52-week high of Rs 13.8 and a 52-week low of Rs 2.91.

Vodafone Idea with negative net worth of Rs 43,474 crore has submitted earnest money deposit of Rs 475 crore while it’s rival Bharti Airtel with networth of Rs 71,303 crore has submitted EMD of Rs 3,000 crore for spectrum auction.

Total market cap of the Vodafone Idea Ltd. stood at Rs 31838.81 crore at the time of writing this report.

Key Financials

The company reported consolidated net sales of Rs 10933.5 crore for the quarter ended 31-Dec-2020, up 0.95 per cent from previous quarter’s Rs 10830.5 crore and up 3.93 per cent from the year-ago quarter’s Rs 11380.5 crore.

The net loss for latest quarter stood at Rs 4532.1 crore, down 29.61 per cent from the same quarter a year ago.

Shareholding pattern

As of 31-Dec-2020, domestic institutional investors held 0.96 per cent stake in the firm, while foreign institutional investors held 6.08 per cent and the promoters 18.48 per cent.

Valuation ratio

According to BSE data, the stock traded at a price-to-earnings multiple of -0.65 and a price-to-book ratio of 1.49. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Vodafone Idea Ltd. belongs to the Telecommunications – Service industry.

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