As Kumar Mangalam Birla steps down as chairman, Vodafone Idea’s share price plummets 24 percent.

As Kumar Mangalam Birla steps down as chairman, Vodafone Idea’s share price plummets 24 percent.

As Kumar Mangalam Birla steps down as chairman, Vodafone Idea’s share price plummets 24 percent. After telecom company Vodafone Idea announced that Kumar Mangalam Birla would step down as non-executive director and non-executive chairman, the share price of the Idea unit tumbled, falling to a 52-week low of Rs 4.55 per share on the BSE.

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Vodafone Idea stock has fallen 37% over the past two days, with today’s decline.

Vodafone Idea

A major chunk of the Indian and international technology and clean-tech stock markets are under consideration by HCL Tech, Clean Science, GR Infra, Just Dial, Airtel, Vodafone Idea, Asian Paints, and RInfra.

stocks of the following five companies have a high focus on HCL Tech, Clean Science, GR Infra, Just Dial, Airtel, and Vodafone Idea are of particular interest

Among the names that can be expected to perform well in the year to come are Vodafone Idea, Mindtree, Zomato, Barbeque Nation, and Infosys.

BSE stock price for Vodafone Idea dropped a full 24% to Rs 4.55 apiece after the company announced that Kumar Mangalam Birla, a non-executive director and non-executive chairman, would be stepping down. Changes will be applied when the company is closed on August 4, 2021. Himanshu Kapania, who currently serves as a Non-Executive Director, has been elected as the Non-Executive Chairman by the board. Today’s price drop has caused Vodafone Idea stock to lose 37% in two days. Since Kumar Mangalam Birla made an offer to sell his stake in the company to any public sector, government, or domestic financial entity that can keep the company operating, the telecom stock has been in a freefall.

With the exit of Vodafone-Idea, the telecom market and infrastructure will be impacted. Tariffs will not last forever, but duopolies are unlikely to do so, leaving consumers vulnerable to service providers in a marketplace where utility is becoming just as critical as the product being sold.

In his writing, telecommunications expert Mahesh Uppal points out that, on the whole, consumers have gained affordable prices, cutting-edge technologies, and a tolerable quality of service. The advantages that have been won in this battle are now in jeopardy, though. Additionally, Uppal stated that there is a long way to go in terms of expanding network capacity and accessibility. It has been noted that while India ranks second globally in terms of the number of people who have access to the internet, it is also first in the number of people who are not connected. The majority of Indians, even with the huge increases in network reach and capacity, are not connected to the Internet.

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