Vodafone Idea hits 52-week high, stock up 64% in 3-weeks


Published On: Thursday, December 9, 2021 | By:

Vodafone Idea hits 52-week high, stock up 64% in 3-weeks

Shares of Vodafone Idea (Vi) hit a fresh 52-week high of Rs 16.40, on surging 15 per cent on the BSE in Thursday’s intra-day trade amid heavy volumes after the media report suggests the firm has raised enough fund for the repayment of interest owed to bondholders within the December 13 deadline , amounting to nearly ₹ 6,000 crore. The company had also fixed the record date for the next tranche of 7.77 per cent unsecured redeemable non-convertible debentures on December 20, the report said.The stock has been on an uptrend over the last few days. Some of the other factors that may have impacted the stock positively include the ongoing efforts of the company to boost its revenue, including the recent tariff hike, traders said.In past three weeks, the stock price of Vi has zoomed 64 per cent after the company increased its prepaid tariff by 20-25 per cent from November 25, 2021.

 The company said the new plans will start the process of average revenue per unit (ARPU) improvement and help address the financial stress faced by the industry.Meanwhile, Aditya Birla Group Chairman Kumar Mangalam Birla on Wednesday said that the government has made policy interventions to boost the telecom sector and further measures in ease of doing business as well as support from the banking sector will enhance the industry's strength and ensure that India remains at the cutting-edge of global technology trends.


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