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Vodafone Idea shares jump 4% to fresh record high but Nomura, other brokerages remain cautious; here’s why

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Vodafone Idea shares jump 4% to fresh record high but Nomura, other brokerages remain cautious; here’s why
The shares of Vodafone Idea jumped more than 4% to hit a fresh record high on Tuesday as the stock snapped a two-session losing streak, although several brokerages remain cautious after a near 100% rally in one year.

The shares of the telecom major jumped to a fresh 52-week high of Rs 13.40 apiece on Tuesday morning. The shares of the company have jumped more than 39% in one month and have gained 15% in 2026 so far.

Vodafone Idea on Saturday released its results for the January-March quarter of the financial year 2026. It reported a net profit of Rs 51,970 crore for the quarter under review as against a net loss of Rs 7,166 crore in the year-ago period, primarily driven by a one-time accounting gain related to the reassessment of AGR dues and recognition of the present value of future AGR payments.

Also Read | Vodafone Idea shares drop 4% on muted Q4 revenue growth, one-time gain in profit

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The firm’s revenue from operations meanwhile rose 3% year-on-year (YoY) to Rs 11,332 crore during the quarter which ended on March 31, 2026, from Rs 11,017 crore in the corresponding quarter of the previous financial year. EBITDA grew 4.9% YoY to Rs 4,889 crore, while Average revenue per user, or ARPU, rose to Rs 190 from Rs 175 in the year-ago quarter, marking an 8.3% increase.


Nomura on Vodafone Idea


Nomura downgraded the shares of Vodafone Idea from ‘Buy’ to ‘Neutral’, but increased its target price to Rs 12.60 apiece. This implies a downside potential of more than 2% from the stock’s previous closing price.
The international brokerage highlighted that the company’s management has outlined a three-year strategic plan in which VIL is going to invest Rs 45,000 crore over the next three years. “To support liquidity, VIL plans to raise Rs 25,000 crore of bank funding and Rs 10,000 of non-funded facility in the near term. We think that if VIL is able to raise this bank funding, it would be a key positive for the business given its capex plan is dependent on it, which may eventually translate into arresting its subscriber loss, and realising higher ARPU from a mix of customer upgrades and higher tariffs. We also note that the government’s 27% AGR relief, with payment moratorium and issuance of preferential warrants worth Rs 4,730 to promoter entity, should support VIL’s ability to raise debt capital sooner rather than later,” it added.
However, Nomura downgraded its rating on the stock due to limited potential upside from current levels. However, it values the stock based on 14x FY28 EV/EBITDA, higher than 12x that it assigned to Bharti Airtel and Jio, given Vodafone Idea’s higher earnings CAGR potential.

“We prefer Bharti Airtel among the telecom stocks under our coverage,” Nomura said, while highlighting the key catalysts for Vodafone Idea, which include successful debt-capital raise, industry tariff hikes, a reversal of the subscriber loss trend, and a strategic equity investment that may provide the much-needed confidence capital. However, key risks include a slowdown in subscriber addition and ARPU growth that could disappoint investors and might push stock back into bear territory, the brokerage added.

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Nuvama on Vodafone Idea


Nuvama retained its ‘Hold’ rating on the stock, but increased its target price to Rs 13.5 apiece. The brokerage highlighted that the company reported a decent Q4 performance. “KPIs like subscriber addition, ARPU and churn rates are improving but a lot more needs to fall into place for VIL to become an investible idea,” it highlighted.

“VIL appears to be making steady progress with improvement in ARPU and subscriber additions on one hand and reassessment of AGR dues and the 10-year moratorium on the other. However, investor attention remains focused on the delayed debt fund raise, which is critical to support capex, along with sustainability of subscriber net addition and ARPU growth,” Nuvama further said.

Motilal Oswal on Vodafone Idea


Motilal Oswal Financial Services maintained its ‘Neutral’ rating on the shares of Vodafone Idea, with a target price of Rs 10 apiece, implying a downside potential of 22% from the stock’s previous closing price. “Everything must go right for the long-term revival,” the domestic brokerage said.

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“We believe Vi’s revival hinges on sustained tariff hikes or a change in tariff construct, stabilization in consumer wireless subs trends, more rational competition on subscriber acquisition, and continuation of a benign regulatory regime, with further relief on spectrum payments,” Motilal said, adding that not all of these variables are within management’s control.

Additionally, if Vodafone Idea begins to emerge as a competitive third player, Motilal expects peers with superior FCF generation, network, and product offerings to respond with heightened competitive intensity.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Versant to buy golf simulator company Full Swing for $530 million

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Versant to buy golf simulator company Full Swing for $530 million

Mark Lazarus, chief executive officer of Versant, at the Semafor World Economy Summit during the International Monetary Fund (IMF) and World Bank Spring meetings in Washington, DC, US, on Wednesday, April 15, 2026.

Aaron Schwartz | Bloomberg | Getty Images

Versant Media Group, the owner of cable networks including CNBC, MS Now and the Golf Channel, has agreed to acquire golf simulation company Full Swing from private equity firm Bruin Capital for about $530 million in cash.

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The deal follows a template CEO Mark Lazarus has outlined to investors since Versant began trading as a public company in January following its spinout from Comcast.

Versant has been investing in non-traditional media businesses that broaden the scope of the brands it already owns. Earlier this year, the company acquired StockStory, an AI-powered tech platform that provides financial analysis, market insights, and stock recommendations, for CNBC.

The company’s golf business already owns digital media platform GolfPass and tee-time reservation company GolfNow.

In May, Versant reported that revenue for its platforms business, which includes GolfNow, Fandango and some recently launched direct-to-consumer units, was up 9.5% to $192 million. The company has called out its growth in its news and sports units. Executives have said they aim to rebalance Versant’s revenue mix so that eventually 50% of it is derived from digital, platform, subscription, ad-supported and transactional businesses.

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“Full Swing is exactly the kind of strategic platform that reflects how we are building Versant:
investing in our core markets, extending the reach of our iconic brands and creating new ways to serve passionate audiences,” Lazarus said in a statement.

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Full Swing develops and sells golf and baseball simulators for consumers, sporting goods stores and athletic training facilities. Both recreational and professional athletes use the technology. Bruin Capital purchased Full Swing in 2021 for $160 million, Sportico reported at the time.

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“Joining Versant gives us the scale and distribution to bring our technology to even more golfers, athletes and fans,” Full Swing CEO Ryan Dotters said in the statement. Dotters will stay at Versant, and will report to Will McIntosh, president of digital platforms and ventures.

The transaction should close before Dec. 31, the companies said in a statement.

— CNBC’s Lillian Rizzo contributed to this article.

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Consumer Fight Back – Margaret’s phone nightmare – Is it finally over?

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Consumer Fight Back - Pensions, Holidays and AI Shopping

Available for 27 days

Linzi Lima checks back in with listener Margaret, who is nearly 90, and her daughter Martina to find out whether, after two months of disruption, Margaret’s landline and lifeline to the world – is finally back up and running.

A new Which? survey suggests that one in eight customers paid more than they were first quoted for car hire. We share practical tips to help you avoid unexpected costs when hiring a car for holidays abroad.

With the sunny weather continuing, do you need to spend more on sun cream to stay protected? We look at the best ways to protect yourself in the sun and whether higher prices really mean better protection.

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New research suggests women are increasingly acting as the financial ‘shock absorbers’ of British households when money gets tight. We take a closer look at what the findings reveal.

And it’s not just the music drawing crowds to festivals this year. With more people looking for family-friendly events and experiences that focus on health and wellbeing, we explore how the festival scene is changing.

Plus, if you have a story or experience you’d like to share with Consumer Fight Back, get in touch by emailing the team at cfb@bbc.co.uk.

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Utah prosecutors seek trial in Charlie Kirk murder case

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Utah prosecutors seek trial in Charlie Kirk murder case

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Tesla Cybercab Showcases Accessibility Features for Blind Riders at National Convention

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Tesla Cybercab Production Begins: Elon Musk Shares Major Robotaxi Milestone

AUSTIN, Texas — Tesla’s futuristic Cybercab robotaxi is being designed with the needs of blind and visually impaired passengers in mind, Elon Musk said Monday as the company demonstrated the vehicle’s accessibility features at the National Federation of the Blind’s annual convention.

Musk, Tesla’s CEO, reposted images and details from the demonstration, writing simply: “Making sure Cybercab meets the needs of the blind.” The post accompanied photos showing blind attendees interacting with the vehicle, including one using a white cane to approach the open door of a gold-colored Cybercab and another seated inside with a service dog.

The event in Austin, running from July 3 to 8, provided hands-on experiences for attendees to test the Cybercab’s features tailored for blind or visually impaired customers. According to the Tesla Robotaxi account, these include Braille lettering on physical controls, dedicated space for service animals and assistive devices, and seating at wheelchair height for easier transfers.

The demonstration comes as Tesla advances its autonomous vehicle ambitions. The Cybercab, a two-seater purpose-built robotaxi unveiled in 2024, lacks a steering wheel or pedals and is intended for unsupervised full self-driving operation. Production is slated to ramp up in 2026, with the company positioning it as a key part of a future ride-hailing network.

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Accessibility at the Core

Tesla’s focus on inclusive design addresses a significant portion of the population often underserved by traditional transportation. In the United States, approximately 2.2 million people are blind or have significant vision impairment that affects daily mobility, according to health data. For many, reliable, independent transportation remains a major barrier to employment, social engagement and daily life.

At the convention, blind participants explored the vehicle firsthand. Images released showed a man with a white cane standing beside the Cybercab, hand extended toward the vehicle, while another photo captured a passenger comfortably seated with his service dog, highlighting the practical accommodations.

A promotional image featured Braille text integrated into Cybercab marketing materials alongside the vehicle’s sleek design, emphasizing “Download the App, Take Your Ride” in both print and tactile formats.

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Interior views revealed thoughtful details, such as easily reachable controls with Braille indicators. One image showed a hand interacting with an overhead control panel, demonstrating intuitive placement for users who rely on touch.

Tesla has not released a full technical specification for the accessibility suite, but the demonstrations suggest integration of voice guidance, haptic feedback and physical markers to ensure safe and independent use.

Broader Implications for Autonomy

The emphasis on accessibility aligns with Tesla’s long-stated goal of making Full Self-Driving (FSD) technology transformative for those unable to operate conventional vehicles. Musk and Tesla executives have previously described robotaxis as a means to provide mobility freedom to the elderly, disabled and others without driver’s licenses.

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Industry observers note that successful integration of such features could set a new standard for autonomous vehicles. Competitors like Waymo have also incorporated accessibility considerations, but Tesla’s dedicated Cybercab platform offers unique opportunities for purpose-built design.

The National Federation of the Blind, a leading advocacy organization, hosts its convention as a major gathering for training, networking and technology exploration. This year’s event in Austin drew thousands, providing Tesla an ideal venue to gather direct feedback from the blind community.

Feedback from attendees and online reactions highlighted the potential life-changing impact. Users shared stories of family members with vision loss who could gain greater independence through reliable autonomous transport. One commenter noted the excitement a blind rideshare passenger expressed upon learning about future robotaxi options.

Technical and Regulatory Context

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Tesla’s Cybercab builds on the company’s extensive real-world data from millions of miles driven under its FSD program. The vehicle features advanced camera systems, neural network processing and over-the-air updates designed to improve performance continuously.

Regulatory hurdles remain for widespread unsupervised robotaxi deployment. Tesla continues to work with authorities in various states, with Texas serving as a key testing ground given the company’s presence at Giga Texas.

Production timelines point to volume manufacturing beginning in 2026 at facilities in Texas. Tesla aims to produce the vehicles at a cost that supports affordable ride-hailing services, with earlier projections suggesting prices under $30,000 per unit, though final figures have not been confirmed.

Challenges include ensuring robust performance across diverse conditions, cybersecurity for connected vehicles, and public trust in fully autonomous systems without human fallback.

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Industry Reactions and Future Outlook

The demonstration has drawn positive attention for its thoughtful approach to universal design. Advocates praised the inclusion of service animal space and tactile interfaces as examples of proactive accessibility rather than afterthoughts.

As autonomous technology evolves, experts predict greater emphasis on inclusive features. Standards from organizations like the American National Standards Institute and input from disability rights groups are likely to influence future vehicle regulations.

Tesla’s move also reflects broader trends in the tech industry toward equitable AI and robotics applications. Musk’s companies, including Neuralink for brain-computer interfaces, often highlight potential benefits for people with disabilities.

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For the blind community, the Cybercab represents more than convenience. Reliable, on-demand transportation could reduce dependence on paratransit services, which frequently face delays and availability issues, and open new opportunities for work and leisure.

Ongoing Development

Tesla has not detailed exact timelines for Cybercab availability to the public or specific accessibility rollout plans beyond the demonstration. The company typically iterates rapidly based on data and user input.

Musk’s personal involvement in highlighting the accessibility efforts underscores the priority placed on this aspect of the project. His post amplified the Robotaxi account’s message, reaching a wide audience and sparking discussions about the societal benefits of autonomous vehicles.

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As testing continues and production approaches, Tesla is expected to provide more comprehensive information on safety protocols, app integration for booking and navigation assistance tailored for blind users.

The Austin convention demonstration marks a visible step in Tesla’s journey toward inclusive autonomy. While technical and regulatory challenges persist, the focus on meeting diverse user needs could help define the next era of personal transportation.

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Money Box – Child Trust Fund “Injustice” and Pension Opt-Outs

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Money Box - Child Trust Fund "Injustice" and Pension Opt-Outs

Available for over a year

Parliament was asked this week to help tens of thousands of young adults get access to their own money. It is sitting in the state-backed Child Trust Funds set up more than 15 years ago with contributions from the government, parents and other relatives. However, because these young people have learning disabilities the legal process for getting hold of their own money can cost more than the couple of thousand pounds typically in their fund. What happens next?

New figures reveal that in a single year half a million people said ‘no thanks’ to joining a workplace pension. Like everyone taking up a new job they were automatically enrolled into a pension, but they opted out before it even began. How might that impact their future?

Capita has missed the deadline to return services to normal for civil servants facing long delays in getting their pensions sorted.

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And, a major change to the Lifetime ISA could see it replaced with a new product designed solely for First Time Buyers. How will it work?

Presenter: Paul Lewis
Reporters: Dan Whitworth and Meghan Owen
Researcher: Catherine Lund
Editor: Jess Quayle
Senior News Editor: Sara Wadeson

(First broadcast 12pm Saturday 4th July 2026)

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Citi lowers Nintendo stock price target on software sales outlook

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Citi lowers Nintendo stock price target on software sales outlook

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FBI Says Some Nancy Guthrie Ransom Notes Are Fake While Others Remain Under Active Federal Investigation

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Zayed International Airport Abu Dhabi International Airport

TUCSON, Ariz. — Federal investigators say some of the ransom notes tied to the disappearance of Nancy Guthrie, the 84-year-old mother of “Today” show co-anchor Savannah Guthrie, have been determined to be fraudulent extortion attempts, while others remain under active investigation as potentially genuine, more than five months after the Arizona grandmother vanished from her Tucson home.

In a statement issued to multiple news outlets, an FBI official said the bureau and its task force partners have received several ransom notes over the course of the investigation. “Some have been deemed to be extortion attempts without legitimacy,” the official said, adding that “other ransom demands may potentially be legitimate and are still being investigated as such.” The FBI reiterated that the case “continues to be investigated as a kidnapping for ransom case,” though it noted that local authorities remain in charge of overseeing the broader investigation, with federal agents assisting.

The statement came after a Reuters report citing an unnamed FBI official had indicated that three notes connected to the case, including messages sent to media outlets in early February and a more recent note sent to TMZ, had all been determined to be fake. The FBI’s subsequent public statement appeared to walk back or at least complicate that characterization, drawing scrutiny from legal analysts and criminologists who have followed the case closely.

Investigators have said the notes fall into roughly three categories: two notes sent within the first week of Guthrie’s disappearance that investigators believe are likely legitimate, additional notes that could be genuine but lack corroborating details, and a separate set of messages authorities have characterized as opportunistic extortion attempts unrelated to any real knowledge of Guthrie’s whereabouts.

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According to details previously reported by news organizations covering the case, the first note arrived on February 2, one day after Guthrie was reported missing from her home just outside Tucson. That message reportedly included specific details about the inside of her house, including the placement of her Apple Watch beside her bed and a broken floodlight on the back porch, details that led investigators to take the note seriously. The note demanded an initial payment of $4 million in bitcoin, threatening an additional $2 million if the deadline was missed. It was sent through tip lines to two local television stations and to TMZ.

A second note arrived four days later, on February 6, and was later determined by the FBI to have originated from the same IP address as the first message, according to law enforcement sources. That note indicated Guthrie had died. In response, Savannah Guthrie and her siblings released a video statement at the time saying, “We received your message and we understand… This is very valuable to us and we will pay.” According to reports, the family never received further communication from whoever sent the note.

Reflecting on the flood of messages the family has received since her mother’s disappearance, Savannah Guthrie said in a March interview that she believed most of the notes were not genuine. “But I believe the two notes that we received that we responded to, I tend to believe those are real,” she said.

The FBI has not disclosed exactly how many ransom notes it has received in total, describing the number only as “several.” One additional message was reportedly sent to TMZ within the past two weeks, adding to the list of communications investigators are working to authenticate or rule out.

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Some experts following the case have expressed skepticism about the legitimacy of any of the notes. Crime scene investigator Sheryl McCollum said she remains doubtful of the communications, noting that whoever sent them has not addressed the physical evidence found at the scene. “I need them to write a letter to explain the blood on the front porch,” she said, adding that she believes investigators may be trying to keep the sender engaged in hopes of eventually identifying the person responsible.

Criminologist Casey Jordan offered a similarly skeptical view, telling a news outlet that she believes none of the notes are likely genuine, largely because none of the messages have included proof of life or proof of death. “There is no reason to believe that they’re real,” Jordan said, adding that details referenced in the notes could plausibly have been drawn from publicly available information rather than firsthand knowledge of Guthrie’s fate.

The investigation has already produced one criminal conviction. In early July, a California man, Derrick Callella, 42, pleaded guilty in federal court to two felony charges, including transmitting a ransom demand across state lines and using a telecommunications device to threaten or harass, in connection with a separate false ransom message sent to the Guthrie family. Prosecutors said Callella had tested positive for drugs at the time of his court appearance. He is scheduled to be sentenced on September 10 and faces five years of probation under the terms of his plea agreement.

Guthrie was last seen alive around 9:45 p.m. on January 31, when a family member dropped her off at her home following dinner. She was reported missing the next day, and investigators later found blood near the front doorstep of her residence. The FBI subsequently released doorbell camera footage showing a masked, armed individual outside her home on the night she disappeared, and the bureau has said it continues to analyze DNA evidence recovered from the scene, including a hair sample.

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No suspect or motive has been publicly identified in the case, which remains active. A combined reward of $1.2 million is being offered for information leading to Guthrie’s safe recovery. Authorities are asking anyone with information to contact the Pima County Sheriff’s Department tip line or the FBI’s national tip line, as investigators continue working to determine which, if any, of the ransom communications received over the past several months reflect genuine knowledge of what happened to Guthrie.

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MPV: Strong Private Credit, But An Undercovered Dividend And Premium Support A Hold

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Victory Income Fund Q4 2025 Commentary

This article was written by

I have a B.Tech degree in Mechanical Engineering from a top school in India. For nearly twenty five years, I have worked in the oil and gas sector, primarily in the Middle East. I work at the intersection of engineering, operations, and project management in an industry that does not forgive mistakes – so I have learned to be efficient, careful, and disciplined. These traits inform my investment strategy. For much of my professional career, I have maintained a serious and sustained interest in the U.S. equity markets, with a particular focus on technology, energy, and healthcare. I started as a growth investor, taking risks as I saw fit; but today, my investment approach blends elements of both value and growth. I seek to understand the underlying economics of a business, evaluate the durability of its competitive advantage (or “moat”), and assess its ability to generate consistent free cash flow over time. I believe, as Munger puts it, in “sitting on your ass” when holding a high-quality business—allowing time and compounding to do the heavy lifting. My orientation is moderately conservative; I look for upside while minimizing downside. Well, who doesn’t, but as I look towards retirement, I have started emphasizing the latter over the former. As a result, in recent years, I’ve gradually rebalanced toward income-generating assets—dividend-paying equities, REITs, and similar vehicles. I view investing not merely as a pursuit of high returns but something that will also generate peace of mind. I joined Seeking Alpha to both contribute to and learn from a community of thoughtful investors—people who, like me, are interested in the intersection of real-world business fundamentals and intelligent investing. PS – The icon I have used represents something fundamentally important to me – that is, to earn money through investing in ecologically sensitive businesses.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Shoppers hit by hidden fees

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Shoppers hit by hidden fees

Hidden fees at the checkout? The CMA is cracking down on unclear online pricing.

BBC Money Box’s Dan Whitworth explains how to spot extra charges before you buy, and whether you could be entitled to compensation if you’ve been affected.

To watch this with subtitles go to BBC iPlayer and search for Morning Live from 06/07/2026

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Ionis completes enrollment in Angelman syndrome drug trial

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Ionis completes enrollment in Angelman syndrome drug trial

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