Vodafone Idea: In the last business day of 2023, something exciting happened with Vodafone-Idea’s shares. There was a sudden and significant increase of 20% in their share value during the afternoon trading.
What is Vodafone Idea News : Share Price Rise by 20%
This boost came due to a major deal involving Vodafone Idea shares, causing a remarkable surge. Now, Vodafone idea share price BSE has reached Rs 15.90, marking its 52-week-high. On Friday, the share opened at Rs 13.45 and steadily gained traction among buyers before hitting a circuit breaker. Meanwhile, its 52-week low is Rs 5.70. The market witnessed a rapid rise in the share value right after opening.
Several substantial deals have taken place in Vodafone-Idea from morning till now, involving a massive 16.05 crore shares valued at 233 crores in this large trade.
It’s worth noting that the company’s deadline to raise funds ends in December. Negotiations with several banks are ongoing. Additionally, the company is in talks with vendors for the rollout of 5G technology. Moreover, efforts are underway to reduce the company’s debt. In September of this year, a payment of Rs 1,701 crores was made to the Department of Telecommunications (DoT), positively influencing investor sentiment.
Investors have seen a doubling of their money in Vodafone-Idea shares in the past month, a remarkable 113% increase over six months, and an impressive 101% growth annually. The year 2023 has been the best year for the stock since it’s listing on stock exchanges in 2007.
Recent discussions among the promoters of Vodafone-Idea about equity investments have driven an increase in the company’s share price. In October 2023, the management announced that promoters have committed to a Rs 2,000 crore investment, which should be completed by December quarter.
(Note: Seek financial advice before investing in the stock market.)
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