From Rs 5 to Rs 10 stock price doubled, heavy buying witnessed and hit upper circuit; do you own it?
Shares of the company have generated 40 per cent in the last three months.
The shares of Vodafone Idea Limited witnessed a significant surge on Friday. The stock commenced trading at Rs 9.13, 1 per cent up from the previous day's closing price of Rs 9.05. During the intraday session, the stock exhibited a remarkable 14.91 per cent surge accompanied by a significant trading volume. Finally, the stock concluded the day at Rs 10.03, 10.83 per cent up from the previous day’s closing price.
Also, read: This company bagged orders worth Rs 8,398 crore in a month
Vodafone Idea is a leading telecom service provider in India, engaged in mobility and long-distance services, as well as trading handsets and data cards.
Upon scrutinizing today's share volumes, it becomes apparent that there has been a substantial increase of over 2.42 times in trading volumes compared to its average volumes on the BSE.
The stock's 52-week high and low are Rs 10.40 and Rs 5.70, respectively. Possessing a market capitalization of Rs 48,825 crore, the stock has showcased outstanding performance in recent periods, yielding a 40 per cent return in the last three months.
Financial Performance
In the June quarter of FY24, the company's revenue from operations experienced a modest increase of 2.36 per cent YoY, going from Rs 10,410 crore to Rs 10,656 crore. The operating profit of the company decreased from Rs 4,328 crore to Rs 4,156 crore, and on a sequential basis, it decreased from Rs 4,210 crore to Rs 4,156 crore. The operating profit margin stood at 39 per cent.
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Meanwhile, the net loss of the company amounts to Rs 7,840 crore, against a loss of Rs 6,419 crore in the last March quarter of FY23.
Disclaimer: This article is for informational purposes only and not investment advice.