Vodafone Idea hits new 52-week high on speculation of equity infusion by new investor

Vodafone Idea hit a new 52 week high in trade on Friday amid speculation of a new investor pumping equity into the company.

Vodafone Idea was up 7.61 per cent at Rs 11.73 at close of trade on BSE. Heavy volumes of the shares were trade with a combined volume of 703 million shares on BSE and NSE.

Vodafone Idea has risen 35.2 per cent over the past month, outperforming the telecom services industry by 26.3 per cent, as per Trendlyne data.

There has been speculation of a new investor to boost the company's equity infusion from time to time.

The buzz is that massive funding of thousands of crores will be pumped into the company.

Other telecom stocks were also buzzing in trade today, with MTNL up 7.7 per cent at Rs 27.55, Bharti Airtel was up on Friday by 1.6 per cent at Rs 930.