TRAI releases October 2023 subscriber data; Vodafone Idea gains, Bharti Airtel opens flat

As per TRAI data for the month of October 2023, Vodafone Idea which has a 19.59 percent market share, recorded a loss of 20.4 lakh users against a loss of 7.5 lakh users in September 2023.

Shares of Telecom Services providers are in focus today, January 4, after TRAI released its October data. While Vodafone Idea lost 20.4 lakh users in October 2023, Bharti Airtel added 3.5 lakh users. At open on January 4, Vodafone Idea gained 0.6 percent and was trading at Rs 15.95 while Airtel fell 0.24 percent and was trading at Rs 1,032.70.

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As per TRAI data for the month of October 2023, Vodafone Idea, which has a 19.59 percent market share, recorded a loss of 20.4 lakh users against a loss of 7.5 lakh users in September 2023. On the other hand, Bharti Airtel, with a 32.85 percent market share, added 3.52 lakh users in the month of October 2023 against 13.2 lakh users added in September 2023.

Also read: Govt tables Telecommunications Bill 2023 in Lok Sabha: Know the key features

Brokerage firm Morgan Stanley has a an Equal-Weight Call on Bharti Airtel with a target price of Rs  1,015.  TRAI’s October Data, the brokerage added, shows a moderate month-on-month increase in overall subscriber additions. While active subscribers declined on a MoM basis, wireless data subscriber additions Of 2.78 m (versus an average Of 5.95 million in the past six months) were reported. Additionally, wireline data subscriber additions slightly improved to 0.48 million against 0.46 million in September 2023.

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