Inventory in focus: Vodafone Thought shares shall be below the lens of market observers and traders as Securities and Alternate Board of India (SEBI) has sough clarification from the telecom firm in regard to media experiences on its attainable tie-up with Elon Musk’s Starlink. The information report claims that the Authorities of India (GoI) might promote its 33 per cent stake within the telecom firm to tech-giant and American billionnaire Elon Musk and his satellite tv for pc web enterprise Starlink collaborating with the provider.
The capital market regulator sought clarification on the information report on Monday, 1st January 2024. Vodafone Thought’s reply on SEBI’s question remains to be awaited.
Vodafone Thought information
Vodafone Thought knowledgeable Indian inventory market bourses about SEBI soughting clarification on the information report saying, “The Alternate has sought clarification from Vodafone Thought Ltd on January 1, 2024, just about information …. dated January 1, 2024 quoting “Elon’s Starlink Tie-Up Talks In Market Pumps Vodafone Thought To The Skies In India”.”
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Vodafone Thought share information
On Friday final week, Vodafone Thought shares skyrocketed after the information experiences of American billionnaire Elon Mush visiting Gujarat on tenth January 2024 for a attainable tie-up with Vodafone Thought. The information report stated that Elon Musk’s Starlink requires a spectrum companion in India for its area linked broadband enterprise. This triggered sturdy shopping for in Vodafone Thought shares on Friday, which continued on Monday session as effectively. On Monday, Vodafone Thought share value touched 52-week excessive of ₹18.40 apiece on NSE, logging over 38 per cent rally in final two classes.
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This rally in Vodafone Thought shares was primarily based available on the market perception that Elon Musk’s Starlink and Amazon requires spectrum companion in India and Vodafone Thought may very well be a possible suitor for this. Amazon’s Challenge Kuiper is eager to enter India for its broadband enterprise and it could require a spectrum companion, which has made Vodafone Thought share a sexy wager for Dalal Road traders.
Amazon could be competing towards the likes of Elon Musk-owned Starlink, Bharti-backed Oneweb and Reliance Industries’ Jio Satellite tv for pc in India. Whereas Bharti and Jio have their very own satellite tv for pc platforms, it leaves Vodafone Thought open for a tie-up with Elon Musk or Amazon.
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Revealed: 02 Jan 2024, 09:04 AM IST
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