Vodafone Idea, or VI, or simply Vodafone for a few users, is the third largest telecom company in the country. However, the distinction of being the third largest falls short and fails to have the kind of impact that one might assume it might have.
Vodafone Idea In A Dip
The company has consistently witnessed periods of decline, with a regular dip in its subscriber numbers over the recent span.
As a result of this, the company shares continue to trade in red with catastrophically low value.
The company shares started the day in red, further, it lost more momentum, as it crashed into the abyss of losses.
At the time of writing, the total decline in the company's stock prices for the day stood at 5.04 per cent or Rs 0.37. This took the overall value of the company shares to a meagre Rs 6.97 per piece.
Nearly 50% Down In 6 Months
This is in addition to the major decline the Mumbai-based company's shares have witnessed in the past 6 months.
In the past 6 months of trade, the company shares have declined by a colossal 48.45 per cent or Rs 6.55.
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Subscribers Decline
The company that is partly owned by the Indian government Vodafone Idea's subscriber base has shrunk by another 1.71 million users. This fall in number in December brought the overall value to 207.25 million users.
In November of 2024, also, the company lost a tranche of 1.5 million.
Starlink Deal
This decline in trust on company shares comes at time when its biggest rivals, Airtel and Reliance Jio have upped their game in the telecommunication and internet landscape.
In the past 24 hours, both Jio and Airtel signed a deal with Elon Musk-led Starlink for its high-speed satellite-based internet. This could have further dented the company's shares that were already in peril.
It needs to be noted that despite this deal, both companies have had a volatile day at Dalal Street.
