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Showing posts from January, 2022

Vodafone Idea shares tank 20.88% as board approves 36% equity allotment to government

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Vodafone Idea’s share price fell 20.88% on Tuesday to close at Rs 11.75 per share after the struggling telco’s board approved the conversion of AGR dues and spectrum interest into equity. The move will see the government of India becoming a shareholder of the company, picking up nearly 36% stake in the firm. “It is now informed that the Board of Directors, at its meeting held on January 10, 2022, has approved the conversion of the full amount of such interest related to spectrum auction installments and AGR Dues into equity,” the company announced in a filing to BSE.  Following the conversion of AGR dues, the Government will hold around 35.8% of the total outstanding shares of the Company, while the promoters Vodafone and Aditya Birla Group would hold around 28.5% and around 17.8% stake in the company, respectively. The net present value of interest is expected to be about Rs 16,000 crore, following final confirmation by the Department of Telecommunications, the company said. The e...

India vs South Africa 3rd Test, Day 1 Live Score Updates: Rabada snares Rahane, Kohli continues to battle

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  India vs South Africa 3rd Test Live Match Score, IND vs SA Cricket Match Live Scorecard: The hosts will definitely fancy their chances after a fighting performance drew them level in the second Test. India vs South Africa 3rd Test Live Score: India lost openers KL Rahul (12) and Mayank Agarwal (15) before reaching 75 for two in their first innings at lunch on the opening day of the series-deciding third Test against South Africa Cape Town on Tuesday. Skipper Virat Kohli (15) and Cheteshwar Pujara (26) were at the crease lunch was taken. Duanne Olivier removed KL Rahul while Kagiso Rabada sent back Agarwal. The series is currently tied 1-1. Playing his 99th Test on what will also be his daughter’s first birthday, the batter in Kohli would like to make it a special one for the ‘Captain’, who has been under tremendous pressure of late. Virat Kohli comes back in as Hanuma Vihari misses out, while Umesh Yadav replaces Mohammed Siraj. South Africa going in unchanged. Playing XI: India:...