Vodafone Idea gains on entering into partnership with EESL
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Vodafone Idea is currently trading at Rs. 9.11, up by 0.11 points or 1.22% from its previous closing of Rs. 9.00 on the BSE.
The scrip opened at Rs. 9.03 and has touched a high and low of Rs. 9.15 and Rs. 9.01 respectively. So far 6795555 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 16.79 on 13-Dec-2021 and a 52 week low of Rs. 7.75 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 9.34 and Rs. 8.71 respectively. The current market cap of the company is Rs. 29356.63 crore.
The promoters holding in the company stood at 74.99%, while Institutions and Non-Institutions held 5.04% and 19.97% respectively.
Vodafone Idea (VI) has entered into partnership with Energy Efficiency Services (EESL) to install 33.3 lakh additional smart meters in Uttar Pradesh and Haryana. VI and EESL under a partnership have already installed 16.7 smart meters in these two states. In total, 50 lakh Vi IoT-enabled smart meters to be installed under the agreement.
The Internet of Things (IoT)-enabled smart meters have resulted in substantial improvement in monthly meter readings. The deployment of smart meters have also helped in improving billing and collection efficiency and has led to huge upside revenue for the DISCOMS thereby improving their financial standing.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.
