Vodafone Idea shares fall 29% on sudden revenue loss

Vodafone Idea shares on Monday fell to its all-time low level over sudden revenue deterioration reported in its quarterly results, reflecting the stress in the Indian telecom sector.

Sell-off in the Vodafone Idea shares came on the back of investor concerns on the stability of the company, which saw the scrips fall as much as 29 per cent on the BSE before it closed 27.03 per cent lower at Rs 6.75 apiece.

JM Financial in its investor note on Vodafone Idea said that the company’s key performance indicators (KPIs) show “eroding consumer mind-share and perception, driven primarily by its 4G coverage/capacity deficit relative to Bharti and Jio”.

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