Vodafone Idea shares hit 52-week high; Zoom over 16%
Vodafone Idea Ltd shares hit a 52-week high on Thursday after the stock jumped over 16 per cent, amid reports that the firm has sought repayment of outstanding interest to bondholders within the December 13 deadline. Sufficient funds have been raised.
On BSE, the stock rose 16.51 per cent to hit its 52-week high at Rs 16.65. Later it was trading at Rs 16.37, up 14.56 per cent from its previous closing price.
On NSE, the stock rose 16.43 per cent to hit its 52-week high at Rs 16.65.
According to some media reports, the company has been able to raise funds for interest repayment of around Rs 6,000 crore to its bondholders.
The stock has been in a bullish trend for the past few days. Traders said a few other factors have positively affected the stock, including the recent tariff hike, including ongoing efforts to boost the company’s revenue.
Last month, the debt-ridden telecom operator announced an 18-25 per cent hike in mobile call and data tariffs for prepaid customers from November 25.
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