Vodafone Idea share price jumped over 17% to 52-week high on Friday amid high volumes traded on stock exchanges. Vodafone Idea shares surged as much as 17.37% to a fresh high of ₹15.54 apiece on the BSE.
The traded volumes of Vodafone Idea shares on December 29 was 84 crore.
Vodafone Idea shares have jumped 30% in the past three months and more than 94% year-to-date (YTD). The year 2023 has been the best year for the stock since it was listed on the stock exchanges in 2007.
The recent upmove in Vodafone Idea share price comes amid talks of equity infusion by the promoters of the company.
In October 2023, Vodafone Idea management said that the commitment of ₹2,000 crore by the promoters should close in the December quarter.
Vi has been very prompt in repaying its external borrowings and as a result, it had the least external borrowings. The telecom operator made the payment of ₹1,701 crore to the Department of Telecom (DoT) in September this year.
The management is also in talks with vendors for 5G rollout.
Indian telcos’ reported EBITDA margins have increased sharply over FY2019-23, driven by wireless market repair (tariff hikes), change in IUC regime, lower SUC charges, operating leverage benefits and most importantly, Ind AS 116 implementation.
At 1:30 pm, Vodafone Idea share price was trading 16.16% higher at ₹15.38 apiece on the BSE.
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Omprakash Tiwary is a business writer who delves into the intricacies of the corporate world. With a focus on finance and economic landscape. He offers readers valuable insights into market trends, entrepreneurship, and economic developments.
