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Bharti Airtel and Vodafone Idea feel the impact of extended lockdown
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The recent recovery in the stock markets notwithstanding, shares of Bharti Airtel Ltd and Vodafone Idea Ltd are still 11-30% lower than their February highs.
The Bharti Airtel stock in particular was seen to be virus-proof due to rising data usage and relatively stable demand for telecom services.
But as it turns out, the companies are not completely immune to covid-19 destruction. Telcos have been asked by the government to extend the validity of recharge vouchers of low-income prepaid customers till 3 May, effectively giving a month (April) of free incoming service for these users.
Vodafone Idea extended incoming service validity of 90 million consumers. Close to 30 million Bharti Airtel subscribers are unable to recharge their prepaid
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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