Vodafone Idea share price was trading higher for Monday’s tenth straight session. Vodafone Idea’s stock price today opened with a 9.98 percent gain. And later touched a Rs 12.62 intraday high, rising 19.96 percent on BSE in early morning trading.
In the past 10 sessions, Vodafone Idea stock price has zoomed 129 percent from the Rs 5.50 mark reached on May 26, 2020.
Vodafone Idea share was trading higher than its moving averages of 5, 20, 50, 100, and 200 days. Vodafone’s Idea stock price has risen 78% in one week. It continued to 180% in one month and 89.61% since the beginning of the year.
In today’s session, the stock traded in a wide range of Rs 1.4, with an intraday volatility of 5.7 percent.
Since the beginning of June 2020, Vodafone Idea’s share price has seen a spectacular rise. It was following the reports suggesting that Google is eyeing a 5 percent stake in the major telecom.
However, on May 29, the Vodafone Idea explained to the exchanges.
“As part of the corporate strategy, the firm is continuously reviewing various ways to maximize the value of the stakeholders. If and when those plans are accepted by the company’s board of directors warranting reporting, the company must meet the disclosure obligations.”
According to media reports, about $101.5 million could be fetched from the 5 percent stake sale. The Vodafone Group Plc and Aditya Birla Group are also reportedly engaged in talks for potential investments with other private equity firms.
