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DLF Appoints Badal Bagri as New Chief Financial Officer

DLF has appointed Badal Bagri as its new Chief Financial Officer. Bagri, a chartered and cost accountant with over 30 years of experience, previously led the electronics verticals at Reliance Retail and served as CFO at Bharti Airtel. He will take over from DLF MD Ashok Kumar Tyagi, who will step down from the CFO role on December 6, 2024.

Vodafone Idea shares surge amid potential bank guarantee waiver news

Vodafone Idea shares surged 6% to Rs 7.92 on November 27, marking a 17.5% increase over three days, amid speculation of bank guarantee waivers for pre-2022 spectrum purchases. The telecom operator faces over Rs 24,700 crore in bank guarantees, with total liabilities exceeding Rs 30,000 crore alongside Bharti Airtel. This potential policy shift aims to alleviate financial burdens in the telecom sector, following previous reforms that removed guarantee requirements for future spectrum acquisitions.

telecom operators welcome bank guarantee waiver to ease financial pressures

The Cellular Operators Association of India (COAI) has welcomed the government's decision to waive bank guarantees for spectrum purchased before 2022, a move that will significantly ease the financial burden on telecom operators like Vodafone Idea, which owes over Rs 24,700 crore. This landmark decision is expected to enhance cash flow, free up capital, and support investments in network expansion and technological upgrades, benefiting the entire telecom sector.

Vodafone Idea shares surge as cabinet approves bank guarantee waiver for telcos

Vodafone Idea shares surged 15% on November 26 after reports indicated that the Union Cabinet approved a waiver of bank guarantees for telecom operators, particularly benefiting Vodafone Idea, which owes over Rs 24,700 crore. Despite today's gains, the stock remains nearly half its value from three months ago, trading at Rs 8 on the NSE. The waiver applies to spectrum acquired in auctions before 2022, aiming to alleviate the financial burden on the telecom sector, which collectively holds over Rs 30,000 crore in bank guarantees.

axis capital initiates coverage on indus towers with add rating and target price

Axis Capital has initiated coverage on Indus Towers with an 'Add' rating and a target price of Rs 356, anticipating a 7% upside due to improved rental revenue growth from Vodafone Idea's network expansion and Bharti Airtel's 5G transition. The Supreme Court's ruling allowing telecom companies to claim Cenvat credits is expected to reduce Indus Towers' contingent liability by Rs 3,704 crore. Currently, shares are trading at Rs 332, reflecting a 63% year-to-date gain, outperforming the Nifty 50's 7% increase.

upreme court ruling boosts telecom sector with input tax credit benefits

The Supreme Court's recent ruling allows telecom service providers to claim Cenvat credits on excise duties for infrastructure like mobile towers, significantly enhancing the financial health of the telecom sector. This decision is expected to release over Rs 1,000 crore in working capital, facilitating accelerated digital infrastructure development across India. The ruling overturns a previous Bombay High Court decision, aligning with the Delhi High Court's stance and promoting fairness in taxation.

Nokia secures multi-billion deal to enhance Airtel"s 4G and 5G network

Nokia has secured a multi-year, multi-billion dollar deal with Bharti Airtel to deploy 4G and 5G equipment across Indian cities, enhancing Airtel"s network capacity and user experience. This partnership aims to future-proof Airtel"s infrastructure while promoting eco-friendly solutions.

Bharti Airtel reports strong growth with revised target price of 1711

Geojit Financial Services has reiterated a "BUY" rating for Bharti Airtel, setting a target price of Rs. 1,711. The company reported a 12% YoY increase in consolidated revenue to Rs. 41,473 crore in Q2FY25, driven by strong mobile service growth in India and a rising customer base of 563 million. EBITDA also rose 12% YoY to Rs. 21,846 crore, while reported PAT surged 98.4% YoY to Rs. 4,153 crore, supported by improved topline performance and reduced exceptional items.

Nifty reports single-digit earnings growth for second consecutive quarter

Nifty companies reported a 4% year-on-year profit growth in Q2, marking the second consecutive quarter of single-digit growth, driven by SBI, Hindalco, ONGC, ICICI Bank, and Axis Bank. However, underperformance from BPCL, JSW Steel, and others offset gains, with consumption and asset-quality stress in BFSI sectors noted as weak spots. FY25 earnings projections have been downgraded by 7%, with a mere 5% growth expected, the weakest since FY20.

quarterly earnings reports reveal mixed results across various sectors

The Q2 earnings season for FY25 is underway, with major companies like Apollo Hospitals, Kansai Nerolac Paints, and Trident set to release their results. While many firms have reported, the overall corporate earnings scorecard has been weak, with only 62% meeting or exceeding profit expectations, particularly in the consumption sector. Notably, GAIL's earnings missed expectations due to lower gas trading margins, while Power Grid's profit remained flat year-on-year.
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