Vodafone Idea Shares Zoom, Touch Two-And-A-Half Year High
Shares of Vodafone Idea touched a two-and-a-half year high on Monday, after they gained 10 per cent to reach Rs 15.88 per share level for the first time since May 2019 on the Bombay Stock Exchange (BSE) intraday trade.
The rise in the stock was mainly due to reasons like the government having announced a moratorium for adjusted gross revenue (AGR) dues which telecom companies have to pay to the Centre.
The company in the last week of November had also announced a tariff hike by 20 to 25 per cent immediately after Bharti Airtel's price hike. This impacted the stock price surge as the counter in the last month had jumped over 61 per cent from Rs 9.82 per share level on the BSE.
Vodafone Idea's market share, according to September market share in total active wireless subscriber base, was at 23.7 per cent, while those of Reliance Jio and Bharti Airtel were 35.7 per cent and 34.8 per cent respectively.
