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PRE-MARKET INDIAN STOCKS NEWS: Vodafone Idea (IDEA IS) reports Q4 net INR 519.7bln, while it received a USD 500mln investment boost

Vodafone Idea reported a noteworthy Q4 net profit of INR 519.7 billion, driven by a one-time accounting gain and a significant turnaround from a loss of INR 71.7 billion the previous year.

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PRE-MARKET INDIAN STOCKS NEWS: Vodafone Idea (IDEA IS) reports Q4 net INR 519.7bln, while it received a USD 500mln investment boost

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Coal India (COAL IS) - Co. said DIPAM approved the listing of Mahanadi Coalfields through a fresh issue of equity shares and the disinvestment of Coal India’s equity in the unit via a public offering of up to 25% of its stake. (Moneycontrol)

Dr Reddy's Laboratories (DRRD IS) - Co. launched its generic version of Semaglutide injection used in the treatment of type 2 diabetes in Canada. (Economic Times)

Hero MotoCorp (HMCL IS) - Co. earmarked INR 15.0bln capex for FY27 to double its scooter production capacity. (Economic Times)

Hindustan Copper (HCP IS) - Co. Q4 (INR) net rose 134% Y/Y to 4.4bln, rev. rose 58% Y/Y to 11.6bln. (Economic Times)

Hindustan Zinc (HZ IS) - Co. unveiled plans to generate INR 20.0bln in value by rolling out AI-driven solutions across its mining and manufacturing operations. (Economic Times)

ITC Hotels (ITCHOTEL IS) - Co. Q4 (INR) net rose 23% Y/Y to 3.2bln, rev. rose 18.2% Y/Y to 12.5bln. (Moneycontrol)

Power Finance Corporation (POWF IS) - Co. moved closer to its proposed merger with REC after its board approved seeking formal approval from the President of India for the transaction. (Economic Times)

Power Grid Corporation of India (PWGR IS) - Co. Q4 (INR) net rose 9.7% Y/Y to 45.5bln, rev. fell 5% Y/Y to 116.7bln. (Moneycontrol)

Steel Authority of India (SAIL IS) - Co. Q4 (INR) net rose 46.6% Y/Y to 18.4bln, rev. rose 5.1% Y/Y to 308.1bln. (Moneycontrol)

Tata Steel (TATA IS) - Co. Q4 (INR) net rose 146.9% Y/Y to 29.7bln, rev. rose 12.5% Y/Y to 632.7bln. (Moneycontrol)

Vodafone Idea (IDEA IS) - Co. Q4 (INR) net was 519.7bln due to a one-time accounting gain from AGR re-assessment and recognition of present value of future AGR payments, versus a loss of INR 71.7bln Y/Y, and Co. received a USD 500mln investment boost from promoter Aditya Birla Group. (Economic Times/Newswires)

Bharti Enterprises - Prudential (2378 HK) announced a 75% acquisition in Bharti Life Insurance for USD 389mln. (Newswires)

India tightened silver import regulations amid efforts to defend the domestic currency, in which the government notified that the import of silver bars was now “restricted” instead of “free”. (Newswires)

Context

This news is amplified by a USD 500 million investment from the Aditya Birla Group, indicating renewed confidence and potential growth prospects for the company within a competitive telecom landscape.

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