Vodafone Idea share price extends rally, spikes 15% to hit a 52 week high

Vodafone Idea share price jumped nearly 15% to a fresh 52 week high of 18.42 apiece on Monday. Today’s rally in Vodafone Idea shares comes after the stock spiked 20% in the previous session. shares have risen more than 114% in the past six months, doubling investors’ money. This performance is against Nifty 50’s 13% rise during the same period.

On January 1, Vodafone Idea’s trading volume soared to 76 crore shares as compared to its one week average of 69 crore shares and the monthly average of 42 crore shares. In the previous session, the trading volume was 199 crore shares. The rally in comes amid reports of equity infusion by the promoters of the cash strapped telecom operator.

Vodafone Idea lost 7.5 lakh mobile subscribers during September, dragging its wireless user tally to 22.75 crore. The beleaguered telco has been reporting losses. It posted a net loss of 8,737.9 crore for the quarter ended September 2023, rising from 7595.5 crore in the same quarter last year. At 10:30 am, Vodafone Idea share price was trading 9.86% higher at 17.60 apiece on the BSE.

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