BOM:532822

ICICI Securities Downgrades Vodafone Idea to Reduce from Hold; Price Target is INR11

Nomura Downgrades Vodafone Idea to Neutral from Buy; Adjusts Price Target to INR12.60 from INR10

Vodafone Idea Returns to Profit in Fiscal Q4

Vodafone Idea (NSE:IDEA, BOM:532822) reported a profit in the fiscal fourth quarter ended March 31, reversing the loss a year earlier, on the back of a one-time accounting gain from the readjustment of the Indian government's adjusted gross revenue.Consolidated profit after tax during the March quarter came in at 519.7 billion rupees from a loss of 71.7 billion rupees a year ago, the telecom services provider said in a filing to the Indian stock exchanges on Saturday.Earnings per share stood at 4.80 rupees from a loss per share of 1.01 rupees a year earlier. EPS beat expectations of analysts polled by Visible Alpha, who had estimated a loss per share of 0.51 rupees.Revenue from operations in fiscal Q4 grew to 113.3 billion rupees from 110.2 billion rupees a year ago.

Allcargo Logistics Appoints Chief of Sales - Express

Allcargo Logistics (NSE:ALLCARGO, BOM:532749) has appointed Samir Ahuja as chief of sales - express, according to a filing to the Indian stock exchanges.Ahuja has over 29 years of experience, including his association with Blue Dart Express (NSE:BLUEDART, BOM:526612) and Vodafone Idea (NSE:IDEA, BOM:532822).The company's shares were down nearly 1% in recent trade.