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沃达丰想法仍将像一个典型的落后的公司:Hemang贾尼

“我们认为公司将生存,政府也在尽力看到它不违约。”

“最佳解决方案沃达丰的想法是,公司会有一些从政府救助。所以,他们可以继续操作在未来3 - 4年,与此同时,如果他们能够筹集资金,共计约20000 - 25000卢比,”说Hemang贾尼,股票策略师&集团高级副总裁,MOFSL。

如果你看一下火车数据,沃达丰的想法已经用户持续出血。你认为其中一个原因为什么投资者不太兴奋这个选项是,他们不一定认为这是公司的生命线?
是的,我们觉得这个主意对沃达丰来说,最好的情况是,公司会有一些从政府救助。如此,他们可以继续他们的业务在未来3 - 4年,与此同时,如果他们能够筹集资金,共计约20000 - 25000卢比,这将帮助他们在更高的ARPU在游戏和奖励任何主要市场份额的损失,逐步满足金融负债。在这个特定的场景中,政府将变得几乎开始约35%的利益相关者和当前的营业利润和债务Voda想法坐在不会是容易管理,这意味着市场份额损失是相当重要的,最终公司将不得不给的很大一部分客户剩下的两名球员,所以在我看来这不是一个最好的情况。

为何不同的前景对塔塔电视和沃达丰的路径是什么想法。什么是上升趋势,可能性是什么?
所以对沃达丰的想法,我们的观点很明确,至少他们有一些的生命线。公司将没有立即破产或关闭的风险,但与此同时,因为ARPU增长20%,大多数的公司,并不足以帮助沃达丰方式主要考虑到年度承诺的利息和偿还几乎是大约25000卢比,而营业利润是少得多。我们认为该公司会生存,政府也在尽力看到它不违约但在竞争夺回市场份额或保留的客户基础所需的资金是失踪。所以它仍将像一个典型的落后的公司,任何事业单位公司和其他的人可能会接管市场份额。

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\"The best-case scenario for Vodafone Idea<\/a> would have been that the company would have got some bailout from the government. So, they can continue their operations for the next 3-4 years, and in the meantime, if they would have been able to raise funds, to the tune of about Rs 20,000-25,000 crore,\" says Hemang Jani<\/a>, Equity Strategist & Senior Group VP, MOFSL.<\/em>

If you look at the TRAI data, Vodafone Idea has been bleeding subscribers consistently. Do you think one of the reasons why investors were not too excited about this option is that they do not necessarily see this as a lifeline for the company?<\/strong>
Yes, we feel that the best-case scenario for Vodafone Idea would have been that the company would have got some bailout from the government. So, they can continue their operations for the next 3-4 years, and in the meantime, if they would have been able to raise funds, to the tune of about Rs 20,000-25,000 crore, that would have helped them along with the higher ARPU to be in the game and award any major market share loss and gradually meeting the financial liability that they have. In this particular scenario wherein the government will become almost about 35% stakeholder to begin with and the fact that the current operating profit and the debt that
Voda Idea<\/a> is sitting on is not going to be easy for them to manage and which means that the market share loss is going to be quite significant and eventually the company will have to give out the large part of the customers to the remainder of the two players so this is not a best-case scenario as I see it.

Why then the different outlook towards Tata Tele and what is the path for Vodafone Idea right now. What is the upward trajectory for them, what are the possibilities?
<\/strong>So for Vodafone Idea, our view has been very clear, that at least they have got some lifeline. The company will not have the immediate risk of insolvency or shutting down, but at the same time, because 20% ARPU increase, which most of the companies have taken, is not enough to help Vodafone in a major way given the fact that their annual commitments in terms of the interest and the repayment are almost about Rs 25,000 crore, whereas the operating profit is far less at this point. So we think that the company will survive, and the government is also trying its best to see that it does not default but to be in the competition to regain the market share or retain the customer base that they have the financial wherewithal that is required is missing. So it will remain like a typical laggard company, any PSU company and the rest of the guys will probably take over the market share.
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