Vodafone Idea shares hit fresh 52 week high, jump up to 37% in two sessions

Shares of Vodafone Idea jumped 15% to hit a fresh 52 week high of Rs 18.40 on the NSE on Monday. This was the second straight session of gains for the telecom counter which has surged 37% in the last two sessions. Today's price action was supported by strong volumes with over 100 crore shares getting traded on the NSE around 11 pm.

On the BSE, the spurt in volume was by 1.66 times. The stock is currently trading above its 50 day and 200 day simple moving averages (SMAs). The price action has pulled the stock into an overbought zone with an RSI at 72, according to Trendlyne. However, MFI for the counter is still at 64 which indicates that a further upside cannot be ruled out.

A number above 70 is considered to be overbought while below 30 is oversold. Advt Vodafone Idea shares have delivered multibagger returns of 124% over the last 12 months and have outperformed the Nifty which itself has given impressive 19% returns during this period. Despite the rally, the stock has traded with considerable stability with a 1 year beta of 0.7 according to Trendlyne.

The stock has been rallying on favourable triggers. In September, Vodafone Idea made a 50% payment of their licence fees and spectrum usage charge (SUC) dues for the March quarter. Last year, in April the company also announced the appointment of Kumar Mangalam Birla, as an Additional Director (Non Executive and Non Independent).

Birla also serves as the chairman of Aditya Birla Group, a conglomerate which has business interests in 14 sectors including cement, insurance and retail. The company's consolidated net loss widened to Rs 8,738 crore for the quarter ended September 2023. The company had posted a loss of Rs 7,840 crore in the preceding June quarter and Rs 7,595 crore in the year ago period.

Revenue from operations rose by a marginal 0.9% to Rs 10,716 crore in the second quarter, compared with Rs 10,615 crore in the same quarter of last year. ARPU (average revenue per user) for the reporting quarter stood at Rs 142, compared with Rs 139 in the previous quarter, showing a sequential growth of 2.1%.

(You can now subscribe to our ETMarkets WhatsApp channel ) (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) By Shivendra Kumar , ETMarkets.com Published On Jan 1, 2024 at 11:51 AM IST Telegram Facebook Copy Link Be the first one to comment.

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Download ETTelecom App Get Realtime updates Save your favourite articles Scan to download App vodafone idea share price vodafone idea vodafone idea stock price vodafone idea stock news vodafone idea 52 week high {"@context":"http://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"https://telecom.economictimes.indiatimes.com","name":"Home"}},{"@type":"ListItem","position":2,"item":{"@id":"https://telecom.economictimes.indiatimes.com/news","name":"News"}},{"@type":"ListItem","position":3,"item":{"@id":"https://telecom.economictimes.indiatimes.com/news/industry","name":"Industry"}},{"@type":"ListItem","position":4,"item":{"@id":"https://economictimes.indiatimes.com/markets/stocks/news/vodafone idea shares hit fresh 52 week high jump up to 37 in two sessions/articleshow/106438835.cms","name":"Vodafone Idea shares hit fresh 52 week high, jump up to 37% in two sessions"}}]} {"@context":"http://schema.org","@type":"NewsArticle","mainEntityOfPage":{"@type":"WebPage","@id":"https://telecom.economictimes.indiatimes.com/news/industry/vodafone idea shares hit fresh 52 week high jump up to 37 in two sessions/106439196"},"headline":"Vodafone Idea shares hit fresh 52 week high, jump up to 37% in two sessions","datePublished":"2024 01 01T11:51:03+05:30","dateModified":"2024 01 01T11:51:55+05:30","articleBody":"Shares of Vodafone Idea jumped 15% to hit a fresh 52 week high of Rs 18.40 on the NSE on Monday.

This was the second straight session of gains for the telecom counter which has surged 37% in the last two sessions.Today's price action was supported by strong volumes with over 100 crore shares getting traded on the NSE around 11 pm. On the BSE, the spurt in volume was by 1.66 times.The stock is currently trading above its 50 day and 200 day simple moving averages (SMAs).

The price action has pulled the stock into an overbought zone with an RSI at 72, according to Trendlyne. However, MFI for the counter is still at 64 which indicates that a further upside cannot be ruled out. A number above 70 is considered to be overbought while below 30 is oversold.Vodafone Idea shares have delivered multibagger returns of 124% over the last 12 months and have outperformed the Nifty which itself has given impressive 19% returns during this period.Despite the rally, the stock has traded with considerable stability with a 1 year beta of 0.7 according to Trendlyne.The stock has been rallying on favourable triggers.

In September, Vodafone Idea made a 50% payment of their licence fees and spectrum usage charge (SUC) dues for the March quarter. Last year, in April the company also announced the appointment of Kumar Mangalam Birla, as an Additional Director (Non Executive and Non Independent). Birla also serves as the chairman of Aditya Birla Group, a conglomerate which has business interests in 14 sectors including cement, insurance and retail.

The company's consolidated net loss widened to Rs 8,738 crore for the quarter ended September 2023. The company had posted a loss of Rs 7,840 crore in the preceding June quarter and Rs 7,595 crore in the year ago period.Revenue from operations rose by a marginal 0.9% to Rs 10,716 crore in the second quarter, compared with Rs 10,615 crore in the same quarter of last year.

ARPU (average revenue per user) for the reporting quarter stood at Rs 142, compared with Rs 139 in the previous quarter, showing a sequential growth of 2.1%.(You can now subscribe to our ETMarkets WhatsApp channel)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.

These do not represent the views of Economic Times)","keywords":["Industry","Vodafone Idea Share Price","Vodafone Idea","Vodafone Idea Stock Price","Vodafone Idea Stock News","Vodafone Idea 52 week High"],"articleSection":"Industry","url":"https://telecom.economictimes.indiatimes.com/news/industry/vodafone idea shares hit fresh 52 week high jump up to 37 in two sessions/106439196","description":"Vodafone Idea stock is currently trading above its 50 day and 200 day simple moving averages (SMAs).

The price action has pulled the stock into an overbought zone with an RSI at 72, according to Trendlyne","author":[{"@type":"Person","name":"Shivendra Kumar","url":"https://telecom.economictimes.indiatimes.com/author/479260149/shivendra kumar"},{"@type":"Thing","name":"ET Telecom","url":"https://telecom.economictimes.indiatimes.com"}],"publisher":{"@type":"NewsMediaOrganization","name":"ETMarkets.com","logo":{"@type":"ImageObject","url":"https://img.etb2bimg.com/files/cp/upload 1679566637 et telecom light theme.png","width":600,"height":60}},"image":[{"@type":"ImageObject","url":"https://etimg.etb2bimg.com/thumb/msid 106439196,width 1200,height 900,resizemode 4/.jpg","width":1200,"height":900}]} Home News Industry Vodafone Idea shares hit fresh 52 week high, jump up to 37% in two sessions.