Vodafone Idea share became a rocket and filled investors’ pockets on the very first day of 2024
Shares of telecom company Vodafone Idea have been running like a storm in the last few trading sessions and rose by more than 8 percent on the stock exchanges on the very first day of the new year 2024. Shares of Vodafone (VIL) surged by 15 percent to a four-year high of Rs 18.42 in intra-day trade on Monday.
Vodafone Idea shares rose 39% in the last two trading sessions
Shares of telecom service company Vodafone Idea crossed the high level of Rs 18.30 on April 1, 2019. However, the stock later came down. Let us tell you that in the last two trading sessions, Vodafone shares have risen by 40 percent.
Reason for the rise in Vodafone Idea Stock
The company’s shares have surged as much as 39 percent in the last two trading sessions amid reports that Vodafone will soon complete its much-delayed fundraising plan. According to a report, Star Link owner Elon Musk may tie up with Vodafone Idea for his first entry in India’s telecom sector.
There are also discussions in the market that the government may sell its 33.1 percent stake in Vodafone to Musk to enable Starlink’s entry into the Indian market. According to reports, Musk is visiting India to participate in the Vibrant Gujarat Business Summit from January 10 to 12 regarding a big land deal in the state to set up a mega factory for his auto company. Also, read this.