Vi loss narrows, gets approval to raise Rs 20,000 crore
Photo/Agencies
NEW DELHI: Vodafone Idea on Friday reported a loss of Rs 7,166 crore for the fourth quarter of the last fiscal, against Rs 7,675 crore in the same period of 2023-24. The company's board also approved raising of Rs 20,000 crore to fund expansion.
The company, reeling under a debt pile of over Rs 2 lakh crore, reported a revenue of Rs 11,014 crore in Q4 FY25 against Rs 10,609 crore in the same period of the previous fiscal. "Subject to the approval of shareholders' and / or other requisite regulatory, raising of funds in one or more tranches, either by way of FPO or private placement or through any other mode..., which may or may not be listed up to amount of Rs 20,000 crore," it said.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
40 minutes ago
- India.com
Rs 500 crore, Rs 700 crore, Rs 1000 crore..., who are the people who are buying such expensive houses and why?
(File/ New Delhi: Nowadays, there is a lot of buying and selling of very expensive property in India. Leena Gandhi Tewari, chairperson of the pharmaceutical company USV Limited, has purchased two duplex flats in Mumbai's Worli area for 635 crore rupees. The total area of both flats is 22,572 square feet. The cost per square foot is 2.83 lakh rupees. In the past few years, many wealthy people in India have invested a lot of money in homes. This has changed the luxury housing market in the country. Apart from Leena Gandhi Tewari, the Kotak family bought an entire building facing the sea in Mumbai for around 628 crore rupees. Radhakishan Damani, the owner of D-Mart, purchased an old bungalow in Malabar Hill for 1000 crore rupees. This shows that India's wealthy people are not just investing in the stock market or startups, they are now investing heavily in land and property as well and they are not just buying anywhere, but rather in selected areas of the country. Why are people buying such expensive properties? There are several reasons. Firstly, people feel that the market for luxury homes in India is doing very well. The demand for good homes is very high, but their supply is low. This is especially true in areas like Lutyens' Delhi, Malabar Hill and Worli in Mumbai, and Golf Course Road in Gurugram. As a result, prices are skyrocketing. In Gurugram, prices at DLF Camellias have reached Rs. 1.17 lakh per square foot. There are some unique aspects to these deals. For instance, the Kotak family has purchased an entire building facing the sea in Worli. It is believed that they will redevelop it. These properties are not just for living but also for investment purposes. This opens up the potential for creating luxury apartments or mixed-use projects in the future, which could yield good returns. Hot spots for luxury homes According to a report by Knight Frank, Mumbai, Bengaluru, and Delhi are among the 15 cities in the world where luxury home prices are rising the fastest. In this list, Bengaluru is fourth, Mumbai is fifth, and Delhi is fifteenth. The report studied luxury home prices in 45 cities globally. It indicates that India is rapidly advancing in the luxury home market. According to the Knight Frank Wealth Report 2024, the number of ultra-rich individuals in India increased by 6% last year, reaching 85,698. It is expected that by the year 2028, this number will increase to 93,753. These individuals have invested 32% of their wealth in homes, compared to 25% in 2020. This shows that people are now investing more in assets like land and property.
India.com
an hour ago
- India.com
Microsoft CEO Satya Nadella finally breaks silence on sacking 6000 employees, says they were not fired....
Microsoft CEO Satya Nadella- File image Microsoft CEO Satya Nadella on recent layoffs: In a massive statement after Microsoft laid off 6,000 jobs, CEO Satya Nadella has clarified that the recent layoffs were not linked to employee performance, but the actual reason behind the layoffs was organizational restructuring. Here are all the details you need to know about the recent statement of Microsoft CEO Satya Nadella. CEO Satya Nadella stated that the layoffs were done with a clear focus on accelerating the company's Artificial Intelligence (AI)-first strategy. The CEO emphasized that Microsoft's vision is now centered on AI transformation. Reports have it that Microsoft's plan includes reallocating resources and talent to areas aligned with emerging business priorities. Microsoft aims to boost AI innovation in India In another significant development for Microsoft, Microsoft and Yotta Data Services, India's leading sovereign cloud infrastructure and platform services provider recently partnered to accelerate artificial intelligence (AI) adoption in India. The partnership enables Microsoft and Yotta to engage with IndiaAI Mission participants, government agencies, IITs, startups, enterprises, and software development companies to leapfrog AI innovation, a report by IANS news agency said. Microsoft said it would bring its AzureAI services to Shakti Cloud, Yotta's AI cloud platform, to offer cutting-edge AI capabilities to developers, startups, enterprises, and public sector organisations across India. 'Our partnership with Yotta to power Shakti Cloud will help unlock AI innovation at scale. Microsoft is honoured to play its part in helping the country realise its AI ambitions through innovation that reflect India's unique needs and priorities,' said Puneet Chandok, President, Microsoft India and South Asia. In January this year, Microsoft chairman and CEO Satya Nadella announced a collaboration with IndiaAI, a division of Digital India Corporation, to advance AI and emerging technologies in the country, and established AI Centre of Excellence and AI Productivity Labs to foster inclusive growth. (With inputs from agencies)
India.com
an hour ago
- India.com
This country hits jackpot as gold deposit worth Rs 6,678,000,000,000 discovered in…., it is world's....
This country hits jackpot as gold deposit worth Rs 6,678,000,000,000 discovered in…., it is world's.... Gold, often referred to as the yellow metal, is one of the most expensive and valuable metals in the world. China has made a groundbreaking discovery that could reshape its economic future. A massive gold deposit worth over £63 billion has been found beneath an existing mine. According to Beijing officials, the underground reserve is estimated to contain around 1,100 tonnes of gold, buried as deep as 9,800 feet below the surface, reported NavBharat Times Hindi. Furthermore, the report stated that the experts believe this could be the largest known deposit of any precious metal ever found. In addition, the quality of the yellow metal is expected to be exceptionally high. Valued at over £63 billion, this find is being hailed as a game-changer not just for China, but potentially for global gold markets as well. According to the current exchange rate (approximately £1 = Rs 106), £63 billion is equivalent to around Rs 6,678,000,000,000 — that is, Rs 6.68 lakh crore in Indian rupees. A team of Chinese geologists has reportedly discovered over 40 gold veins beneath the Wangu Gold Field in Pingjiang County, Hunan Province, containing around 330 tons of gold ore at a depth of approximately 6,600 feet. Advanced 3D geological modeling indicates that the deposit could stretch as deep as 9,800 feet, potentially holding up to 1,100 tons of gold. If these estimates are accurate, the total value of the reserve could reach an astounding $83 billion. The discovery contains 138 grams of gold per metric ton of ore, which is extremely rare and indicates very high-quality gold. As per NavBharat Times Hindi, Chen Rulin from the Geological Bureau of Hunan Province stated that this additional gold reserve was found in the drilled rock cores. He added that if the estimate of 1,100 tons holds true, it would become the largest gold mine in the world. At present, the record for the world's largest gold mine belongs to the South Deep mine in South Africa, which contains 1,025 tons of gold. Mines in Indonesia, Russia, New Guinea, and Chile are among the top five gold mines globally. The Carlin Trend and Cortez gold mines in Nevada rank sixth and tenth in the world, respectively. If China's new gold reserve is confirmed, it could give a significant boost to the country's economy. So far, the world has seen about 233,000 tons of gold mined in various forms, with two-thirds of it extracted since 1950. China has emerged as a major player in gold mining, and experts believe the country still holds many undiscovered gold deposits, the report mentioned. Today, China leads the global gold market, with its mining industry accounting for roughly 10% of the world's total gold production. China currently ranks sixth in the world for gold reserves, with about 2,264 tons of gold. In recent years, the country has been steadily increasing its reserves, and with the recent discovery of new deposits, China's gold holdings are expected to grow even more soon. At present, the United States holds the largest gold reserve globally. Meanwhile, India stands in ninth place in the world in terms of gold reserves.
