Stock Market Today: Vodafone Idea share price has skyrocketed to the tune of nearly 40 per cent in the last four trading sessions. According to the share market experts, this rise in the Vodafone Idea shares is due to the telecom company's Board of Directors decision to raise Rs 25,000 crore through equity offers and rebranding the company to enhance its revenue in the post-COVID scenario.

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Speaking on the Vodafone Idea share price outlook, Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal said, "Vodafone Idea has to repay Rs 50,400 crore AGR dues and the recent decision to raise Rs 25,000 is exactly 50 per cent of its net dues. With this decision it has injected fresh positive sentiments among the stock market investors." Taparia also said that the company is rebranding it as well to enhance its revenue and repay the rest 50 per cent AGR dues in the next 10 years.

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Highlighting the reason for rise in Vodafone Idea share price, Keshav Lahoti, Associate Equity Analyst at Angel Broking said, "In the last four trading sessions from the close price of September 1, 2020  Vodafone Idea has rallied around 39 per cent 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 and this has 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.”

On Vodafone idea share price outlook Chandan Taparia said, "Vodafone Idea share price has strong support at Rs 10 per stock mark and it can further go up to Rs 15 to Rs 16 per share levels from its current Rs 12.40 close on Monday."