Vodafone Idea - Mr. Keshav Lahoti, Associate Equity Analyst, Angel Broking Ltd

"In the last four trading sessions from the close price of September 1, 2020 Vodafone Idea has rallied ~39% as market participants believe Vodafone Idea will survive after analysing AGR verdict and action taken by management post the verdict. AGR verdict overhang is removed from the stock and clarity has come with respect to the timeline the Company has to clear AGR dues. There is also news that Amazon and Verizon will invest in the Company have also led to a rally in the stock. The stock has also rallied due to the board's quick approval to raise up to Rs.25,000 crore from the market. Today, the Company also announced a new brand identity for itself "Vi" (read as "We") shows commitment of management towards reviving the Company. Raising the desired quantum of funds from the market can lead to further rally in the stock."

Shares of Vodafone Idea Ltd was last trading in BSE at Rs.12.3 as compared to the previous close of Rs. 12.01. The total number of shares traded during the day was 208975240 in over 88818 trades.

The stock hit an intraday high of Rs. 13.21 and intraday low of 11.95. The net turnover during the day was Rs. 2640559833.

Source : Equity Bulls

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