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Vodafone Idea Doubled In A Month But AGR Case Outcome Is Key

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Vodafone Idea Doubled In A Month But AGR Case Outcome Is Key

Mumbai: The outcome of the adjusted gross revenue (AGR) case, which will be heard in the Supreme Court on Thursday, will decide the course for telecom shares, mainly Vodafone Idea, which has more than doubled in the last one month. The hearing may include the government’s application that telcos be allowed to spread the payment of their dues over 20 years or less. Analysts said if the court asks companies to pay sooner, it could bring the rally in these shares to a screeching halt.

“If they get any time period lesser than 15-20 years to pay AGR dues they won’t have much money to invest in 4G CAPEX. This would have implications on market share as without such investments they would end up losing market share,” said Rajiv Sharma, head of research at SBICAP Securities, which has kept its rating on Vodafone Idea under review. “If they have to pay everything up front, then Vodafone Idea may decide to shut down and they may get referred to NCLT (the National Company Law Tribunal) .

The telecom operator has paid Rs 6,854 crore out of the Rs 58,254 crore it owes the government in AGR dues. The stock ended up 7.34 percent at Rs 10.82 on Wednesday. It has surged 136 percent from 4.58 level a month ago. In comparison, peer Bharti Airtel’s shares are up 6 per cent in the last one month.

The rally in Vodafone Idea shares has been amid dipping delivery volume, suggesting long-term investors remain skeptical about its debt levels and AGR dues.

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Data compiled by ETIG Database shows that the delivery volume percentage in the last week was close to 23 percent and was 26.9 percent in the last one month. This is similar to the 3-month average delivery volume of 28.6 percent and a 6-month average delivery volume of 28.54 per cent.

“It points to speculation activity in the counter. The Telecom sector looks good and the stock is moving because other telecom giants are rallying. One can sell the Vodafone stock on the further rally,” said Chandan Taparia, derivatives analyst at Motilal Oswal.

News Source: EconomicTimes

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Movie

The Madras High Court has granted early screenings of Vijay’s Leo movie from 7 AM, requesting the TN government to resolve any issues.

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The Madras High Court has granted early screenings of Vijay’s Leo movie from 7 AM, requesting the TN government to resolve any issues.

Madras High Court Grants Early Screenings of Vijay’s “Leo” Movie at 7 AM, Urges TN Government to Address Concerns

The Madras High Court has made a landmark decision in favor of the much-anticipated Tamil film “Leo,” starring actor Vijay. In a significant move, the court has granted permission for early screenings of the movie from 7 AM, urging the Tamil Nadu government to swiftly address any issues and facilitate the smooth release of the film. This decision marks a pivotal moment in the realm of Tamil cinema and the entertainment industry at large.

Historical Context:

The Indian film industry, particularly the Tamil film industry, has seen its share of controversies and challenges related to film releases. Issues such as censorship, political disputes, and public sentiment have often played a significant role in shaping the release schedules and screening times for films. Vijay, one of Tamil cinema’s most prominent actors, has been at the center of such controversies in the past. This decision by the Madras High Court is, therefore, particularly noteworthy.

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The Ruling:

The Madras High Court’s decision to permit early screenings of “Leo” comes as a response to a plea filed by the film’s producers. The court, while considering the plea, took into account various factors, including the film’s anticipated popularity and the prevailing circumstances. The court emphasized the importance of accommodating the audience’s interests and allowing them to enjoy the film without disruptions.

A Step Towards Normalization:

The court’s decision signifies a positive shift in the film industry, where release dates and screening times are often mired in controversy. By allowing screenings to commence at 7 AM, the court aims to reduce the chances of public unrest and congestion near theaters, especially in the wake of high-profile film releases.

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The Role of the Tamil Nadu Government:

The Madras High Court, in its ruling, also called upon the Tamil Nadu government to cooperate in ensuring a seamless release for the film. This cooperation extends to providing necessary security measures to maintain law and order around theaters during the early screenings.

Implications for the Entertainment Industry:

The decision is expected to set a precedent for the release of other highly anticipated films, not just in Tamil cinema but also in the broader Indian film industry. The court’s emphasis on the importance of accommodating the audience’s interests could lead to more flexible screening times for movies in the future.

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The Audience’s Perspective:

For moviegoers and fans of Vijay, this decision comes as a welcome relief. They can now look forward to enjoying the film without any undue delays or disruptions, ensuring a memorable cinematic experience.

In conclusion, the Madras High Court’s ruling to allow early screenings of Vijay’s “Leo” at 7 AM while urging the Tamil Nadu government to resolve any issues paves the way for a more audience-centric approach in the film industry. It is a landmark decision that highlights the importance of balancing the interests of filmmakers and the movie-loving public. This judgment is poised to make a positive impact on the release of future films, ushering in a new era of flexibility and convenience for cinema enthusiasts.

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