Vodafone Idea share price staged a sharp recovery during intraday trading on Friday, December 13, surging up to 5 per cent from its 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 the level of ₹7.68. The telecom stock, however, recovered swiftly and jumped to the level of ₹8.07. Around 1 PM, the stock traded 2.4 per cent up at ₹8.06 apiece.
Vodafone Idea news
Vodafone Idea shares jumped after the company disclosed the details of an investor presentation, highlighting four key strategies for the company’s future growth.
In an exchange filing during market hours on December 13, the company said a competitive and adequate spectrum will fuel its growth. It said it has sufficient spectrum to support the migration of entire 4G subscribers to 5G.
It said it is among the top 10 cellular operators globally by subscribers in a single country of operations and is the third largest in India.
The company believes the digital revolution in India offers substantial growth opportunities.
Here are the four key strategies that Vodafone Idea highlighted in its investor presentation:
1. Focused network investments to drive coverage and capacity expansion.
2. Market initiatives to drive ARPU improvement and customer retention.
3. Focus on business services through telco-to-techco transformation.
4. Strategic collaborations to monetise digital opportunities.
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 in December so far after a 3 per cent gain in November. It 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.
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