Vodafone Idea share price rises following a partnership for satellite connectivity

Stock Market Today: Vodafone Idea share price gained in the morning trade on Thursday, following a partnership announcement for satellite connectivity with AST SpaceMobile.

Vodafone Idea partnership details

Vodafone Idea announced a partnership for Satellite Connectivity with AST SpaceMobile on Wednesday, post-market hours.

In the media release shared with the exchanges, Vodafone Idea said that the collaboration is to bring direct-to-device broadband connectivity to India, supporting the digital vision initiative.

Vodafone Idea is one of the top three telecom service providers in India, while AST SpaceMobile Inc. (NASDAQ listed with code ASTS) is a company building the first and only space-based cellular broadband network accessible directly by everyday smartphones, designed for both commercial and government.

The satellite communication will complement terrestrial connectivity to further expand cellular broadband coverage in some challenging terrains, said the company.

Vodafone Idea or Vi's, nationwide mobile network and AST SpaceMobile's space-based cellular broadband, which will connect directly to common smartphones without the need for extra software, device modifications, or upgrades, will be integrated through the agreement, the company said.

The partnership will concentrate on the development, implementation, and launch of a satellite-based broadband system, in line with the objectives of the Digital India project. Vodafone Idea will be in charge of market access, spectrum operations, and terrestrial network integration, while AST SpaceMobile will build and run the constellation of satellites.

Vodafone Idea—Other Developments

Vodafone Idea, a few days back, had announced the launch of 5G services in Bengaluru.

The Bangalore launch is a part of Vi's larger strategy to roll out 5G throughout its 17 priority circles by the end of August. Residents and businesses in Bengaluru, a significant IT hub, now have access to better data speeds, improved connectivity, and reduced latency thanks to this launch.

Vodafone Idea share price movement

Vodafone Idea share price opened at ₹6.71 and gained further to ₹6.72, which meant an intraday rise over the previous day's closing price of ₹6.56. The gains in Vodafone Idea shares were on a day when the Indian stock market remained under pressure and range-bound.

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