Vodafone Idea share price inflation 5% from intraday low; can it rise further?
Vodafone Idea share price witnessed a sharp surge during intraday trading on Friday, December 13, rising as much as 5 per cent from an intraday low of ₹7.68 despite a volatile market environment. Vodafone Idea share price opened at ₹7.83 against its previous close of ₹7.87 and fell over 2 per cent to hit ₹7.68 levels. However, the telecom stock recovered sharply and touched ₹8.07 levels. Around 1 pm, the stock was trading 2.4 per cent higher at ₹8.06.
Vodafone Idea News
Vodafone Idea shares surged after the company revealed details of an investor presentation that highlighted four key strategies for the company’s future growth.
In an exchange filing during market hours on December 13, the company said competitive and adequate spectrum would drive its growth. It said it has sufficient spectrum to migrate the entire 4G subscribers to 5G.
It said it is among the top 10 cellular operators in terms of subscribers worldwide and the third largest in India.
The company believes that the digital revolution in India offers ample growth opportunities.
The four key strategies that Vodafone Idea has highlighted in its investor presentation are as follows:
- Focused network investments to drive coverage and capacity expansion.
- Go-to-market initiatives to drive ARPU improvements and customer retention.
- Focused business services through telco-to-techno transformation.
- Strategic collaborations to monetise digital opportunities.
Vodafone Idea share price trend
At the current market price of ₹8.07, Vodafone Idea shares are down 50 per cent year-to-date (YTD). On a monthly scale, the stock is down 4 per cent so far in December after a 3 per cent gain in November. It had hit a 52-week high of ₹19.15 on June 28 before hitting a 52-week low of ₹6.60 on November 22 this year.
