Shares of debt-ridden telecom operator Vodafone Concept Ltd rose for the third straight session immediately amid experiences that stated the federal government was prone to promote its 33% stake in Vodafone Concept to tech-billionaire Elon Musk and his satellite tv for pc web enterprise Starlink collaborating with the provider. BSE and NSE have sought a clarification from the telecom service supplier on the identical from the third largest telco in India to which the agency is but to answer.
Within the present session, the Vodafone Concept inventory rose 4.64% to Rs 17.78 on BSE. The inventory closed at Rs 13.24 on December 28. Since then the inventory has zoomed 39% in three periods. Market cap of the agency rose to Rs 82,414 crore. Complete 188.05 lakh shares of the agency modified arms amounting to a turnover of Rs 32.31 crore on BSE.
By way of technicals, the relative power index (RSI) of Vodafone Concept stands at 76.3, signaling it is buying and selling within the overbought zone. Vodafone Concept inventory has a one-year beta of 0.7, indicating very low volatility through the interval. Vodafone Concept shares are buying and selling increased than the 5 day, 10 day, 20 day , 50 day, 100 day, 150 day and 200 day shifting averages.
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The inventory hit a 52 week low of Rs 5.70 on March 31, 2023 and a 52 week excessive of Rs 18.42 on January 1, 2024.
Within the second quarter of the present fiscal, the agency’s web loss widened to Rs 8,738 crore for the quarter ending September 30, 2023 as in opposition to Rs 7,596-crore web loss within the year-ago interval.
The telco stated its common income per consumer (ARPU) rose to Rs 142 in Q2FY24 as in opposition to Rs 139 in Q1FY24 and Rs 131 in Q2FY23. Its income was flat at Rs 10,716 crore in Q2FY24 as in comparison with Rs 10,615 crore within the year-ago interval.
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