Vodafone Idea shares tumble over 6% today: What’s weighing?

Vodafone Idea shares in Friday’s trade drifted southwards and fell over 6 per cent to the day’s low price of Rs 7.45 apiece on the BSE. At around 11:40 am, shares were down 5.67 per cent or Rs 0.45 at Rs 7.49.

Even as the markets were gaining ground for the past few sessions, Vodafone shares traded mixed with prices gaining by just close to 2 per cent since April 17 closing.

Why losses in Vodafone Idea shares- Block deal?

As per reports, 1.44 per cent of the total equity or 103 crore shares changed hands in the counter in the pre-opening trade in multiple trades. Amid the large trade, shares at the open traded with a gap-up.

The trade took place at an average share price of Rs 7.98 apiece, taking the total transaction value to Rs 823 crore.

Continued subscriber base loss- another pain point for Vodafone Idea

The telecom authority has released the February data as per which the debt-laden company lost as many as 20,720 users. This is even as the decline rate reduced, nonetheless churning continued at the telco major.

In contrast, Airtel and Jio Financial Services both have added as many as 16.5 lakh and 6.9 lakh users, respectively. 

Vodafone’s falling subscriber base
      Net Decline  Decline Rate
Nov     -15.02Lk   -0.71%
Dec     -17.15Lk   -0.82%
Jan     -13.38Lk   -0.65%      
Feb     -20720     -0.01%

Total Subscriber base 

Service Provider                     Subscriber base

Reliance Jio Infocomm Ltd      46.5 Cr
Bharti Airtel Ltd.                            28.9 Cr
Vodafone Idea Ltd.                      12.5 Cr