Vodafone Idea, a telecommunications services provider, witnessed a nearly 3 percent dip in its shares during morning trade on September 28, following the release of the Telecom Regulatory Authority of India (TRAI) monthly subscription data for July.

The report revealed a loss of 13.2 lakh subscribers for the company, exacerbating the decline observed in June with a loss of 12.9 lakh subscribers.

As of the latest data in July, the company’s market share in the wireless subscribers segment has diminished to 19.92 percent.

In an interview with CNBC-TV18 on September 27th, TRAI’s outgoing chairman PD Vaghela expressed concern about the continuous decline in subscriber base for BSNL and Vodafone Idea. He attributed this trend to their inability to roll out 5G services.

At 10 am on the NSE, the Vodafone Idea stock was trading at Rs 11.80 apiece, down Rs 0.20, or 1.67 percent.