Veteran telecom company Vodafone-Idea is expected to face a major setback in the next one year. Fitch Ratings has speculated that the company may lose 5 to 7 crore customers in the next 12 months. In the last 9 quarters, VI has lost about 15.5 crore customers. Fitch said that customers can move to Reliance Jio and Bharti Airtel, leaving Vodafone Idea. These days the customers of Airtel and Jio are continuously increasing.

Fitch said that in the next 12 to 18 months, the combined market of Bharti Airtel and Reliance Jio can be around 80%. It was around 74% in the month of September. Airtel added 1.4 million new customers in the second quarter. This is double that of Jio's 7 million new customers.

There is a huge decrease in the customers of Vodafone Idea, due to which their market share is also falling. The company's financial situation has deteriorated significantly. It is impacting its business. Fitch has said that Vodafone has a strategy to raise about $ 3.4 billion through the sale of shares and debt. However, it is unlikely to improve its condition in the telecom market. It is also difficult for the company to rejoin the customers who have left it. The reason for this is that the amount raised is not sufficient for capital expansion.

Also Read-

Loans repay-performance of retail and small biz borrowers is better than expected: Yes bank

Glenmark gets US approval for cancer drug, stock rise

Stock Markets Watch: Markets open marginally lower; Nifty above 13K