Vodafone (NYSE:VOD) Paints Major Index Red After Ratings Downgrade - VIV, VIP, TDS

Pompano Beach, FL -- (SBWIRE) -- 02/04/2013 -- Stock of UK headquartered Vodafone (NYSE:VOD) was down 1.8%, pushing down its index along with its slide, following Citigroup lowered the ratings of wireless telecom company to neutral from buy.

On Monday, in separate news, Vodafone (VOD) India non-executive Chairman Analjit Singh held a meeting with Revenue Secretary Sumit Bose in an effort to end the Rs.11,200-crore tax liability issue associated to the British company’s takeover of Indian telecom assets of Hutchison Whampoa.

Where VOD is Headed Exactly? Find out in This Trend Analysis Reports

UK wireless company Vodafone (VOD) has been hammered badly with an income tax demand notice of Rs.11,200 crore on its 2007 takeover of Hong Kong-located Hutchison Whampoa’s stake in its Indian telecom business.

Share of Vodafone Group (NYSE:VOD) were lower -1.63% on initial trading hours on Monday. The FTSE 100 index also shed 0.3% to 6,330.21, partially wiping out a 1.1% rise achieved on Friday.

At the current trading session, Vodafone Group Plc (ADR) (NASDAQ:VOD) shares are down -1.37% to $26.92 while the stocks are trading within the range of $26.72 – $26.99. In the past year, the stock has traded within a range of $24.95 – $30.07. Average daily trading volume is 10.04 million shares.

Will VOD Get Buyers Even After The Recent Rally? Find Out Here

If we look at a few other stocks within industry, Telefonica Brasil SA, VimpelCom Ltd and Telephone & Data Systems, Inc. are in the losers llist. Let’s have a quick look on their Market performance.

Telefonica Brasil SA (ADR) (NYSE:VIV) shares are down -0.35% to $25.32 while the stock is trading within the range of $25.31 – $25.49 in the current trading session. In the last 12 months the shares have traded between $21.03 and $31.32. The average daily trading volume is 1.27 million shares.

Has VIV Found The Bottom and Ready To Move Up? Find Out Here

VimpelCom Ltd (ADR) (NYSE:VIP) shares in the current session moved down -0.33% reaching $12.17. The stocks are trading in a range of $12.00– $12.18. In the last year the stock has moved within a range of $7.05 – $12.55. The Company’s average daily trading volume is 1.31 million shares.

Why Should Investors Buy VIP After the Recent Fall? Just Go Here and Find Out

Another rival company, Telephone & Data Systems, Inc. (NYSE:TDS), is trading down -0.16% to $25.72. Intraday trading recorded the stock price in a range of $25.52 to $25.85. In the previous 52 weeks the stock’s price ranged between $19.20 and $29.14. Their average daily trading volume is 590,817 shares.

Is it the Right to Grab TDS after the Recent Slump? Get Free Trend Analysis Here

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