Multibagger Stock: Shares of Vodafone Idea (VIL) surged 3 per cent to three-month high of Rs 16.70 on BSE in intra-day trade on Wednesday. The stock was trading at its highest level since February 27, 2024. It had recorded a 52-week high of Rs 18.42 on January 1, 2024. Voda Idea share price has increased by 26 percent in the last six trading days. This stock has risen 120% in the last one year.
what are the details
The stock of the telecom service provider rose 6 percent in the last two trading days. Actually, the company has said that its board meeting is going to be held on Thursday, June 13, 2024. Also, the company is expected to improve its earnings. With the recent rally, Voda Idea stock is currently trading 51 per cent higher than its follow-on-public offer (FPO) price of Rs 11 per share. The company had raised Rs 18,000 crore through its FPO. It had raised Rs 2,075 crore by issuing 1395.4 million equity shares at Rs 14.87 per share to the promoter group company.
Preparation to give big gift to central employees! Salary is going to be revised
analyst opinion
Analysts believe the Indian telecom sector is likely to see significant tariff hikes in FY25 and FY26. This is expected to contribute to a substantial improvement in the average revenue per user (ARPU) of all companies including Voda Idea. In a recent note, analysts at Nomura upgraded Vodafone Idea stock to ‘Neutral’ and said Vodafone Idea needs to go a long way, but the storm has largely passed and the company is looking forward to clear skies. Gearing up to face. In a recent note, analysts at Nomura upgraded Vodafone Idea stock to ‘Neutral’ from ‘Reduce’.
