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As Per Latest Information Vodafone Idea’s Stock Close to 10% Up on Friday Morning

Vi’s stock is trading for Rs 6.60 (9.09% up), reaching Rs 6.65.

Vi needs to organize a fruitful fundraising campaign. The Aditya Birla Group (ABG) had made that commitment to the Indian government in order for the center to move forward with turning the debt into equity for itself. The Indian government now has the most stock in Vi. Only time will tell what the telecom might experience should KMB return to Vi’s board.

HIGHLIGHTS

  • On Friday morning’s stock markets, Vodafone Idea (Vi) is having a terrific time.
  • The telco’s stock is now trading at Rs 6.60 (9.09% up) at the time of writing.
  • On Friday, the stock of Vi reached a high of Rs 6.65.

On Friday morning’s stock markets, Vodafone Idea (Vi) is having a terrific time. The telco’s stock is now trading at Rs 6.60 (9.09% up) at the time of writing. On Friday, the stock of Vi reached a high of Rs 6.65. This took place following Vi’s late-Thursday statement that Kumar Mangalam Birla (KMB) will rejoin the company’s board as a new non-executive director. The investors and traders have obviously welcomed the return of the Indian business mogul to the telco’s board.

His last resignation as Chairman in 2021 caused the telco’s shares to plunge to Rs 4.55 per share (24% down) in a single day. Regarding recovery, Vi’s stock still has a long way to go. The stock value has decreased dramatically over the past several months as a result of the company’s failing business performance and inability to roll out 5G.

Vi needs to organize a fruitful fundraising campaign. The Aditya Birla Group (ABG) had made that commitment to the Indian government in order for the center to move forward with turning the debt into equity for itself. The Indian government now has the most stock in Vi. Only time will tell what the telecom might experience should KMB return to Vi’s board. The market is now optimistic about the telecom. KMB also serves as the chairman of Vi’s major shareholder, the Aditya Birla Group.

Without raising money, Vi won’t be able to pay its debts on time and would find it difficult to build out 5G. KMB recently stated that Vi will launch 5G shortly. But without a fundraiser, such words are nothing. There are minimal rollout requirements that the telcos must achieve, so if Vi doesn’t offer 5G quickly, the telecom may have to return the 5G spectrum to the government.

What do you think?

Written by Shallu Srivastav

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