Page 2 - Idea Ltd News Today

Multiple companies are in focus due to news developments. IndoStar Capital Finance raises funds. CMS Info Systems promoter sells stake. Salasar Techno, SJVN, Capital SFB, GE TD India, Aether Industries are also in the news.

The telecom operator will conduct an extraordinary general meeting with shareholders on April 2 and seek approval for the proposed fundraising. If shareholders approve, the company expects to complete the equity fund raise in the coming quarter.

The fundraising could be in one or more tranches through equity instruments, including rights issue, preferential issue of shares, qualified institutional placement of shares, or a combination thereof as may be considered appropriate.

IREDA Ltd, IRFC, Maruti Suzuki India Ltd, HUDCO, HDFC Bank Ltd and NBCC Ltd led the turnover chart, data on most-active stocks suggest.

Vodafone Idea Q3 Results: Consolidated revenue from operations rose a marginal 0.6% year-on-year (YoY) to Rs 10,673 crore, but it declined 0.4% sequentially. The growth in revenue was supported by improving subscriber mix, 4G subscriber additions and change in entry-level plan, the telecom operator said.

IREDA topped the volume chart, as the recent stock debutant saw 8,55,07,514 shares worth Rs 1,034.38 crore changing hands. The stock rallied 8.39 per cent to Rs 121.40.

YES Bank shares were trading 1.51 per cent lower at Rs 19.55, as Rs 149 crore worth 7,60,95,675 shares changed hands on the counter. Vodafone Idea Ltd added 0.38 per cent to Rs 13.25.

YES Bank saw 38,67,36,259 shares worth Rs 776 crore changing hands. The stock climbed 2.58 per cent to Rs 19.90. The private lender recently said it received redemption of Rs 120 crore in the Security Receipts Portfolio.

Vodafone Idea Ltd had on June 8, 2023 this year, as successor of Vodafone Mobile Services Ltd, petitioned the HC against the Central Processing Centre, Bengaluru, Assistant Commissioner of Income-Tax, Mumbai and others. Through its senior counsel J D Mistri, the cellular operators called in question the failure of CPC and IT officials to refund the amount it paid for 2016-17, in excess of legitimate tax due on returned income.

Business News: The Bombay High Court has ruled in favor of Vodafone Idea Limited, stating that an assessment order passed by the Faceless Assessing Officer two years