Punters favorite ‘IDEA is back!

Vodafone Idea is one of the star performers in 2020 that has fizzled out in 2021, so far.

If you ask any chartist, he will tell you to bet on those stock that are showing rise in prices along with increasing volumes. Vodafone Idea is doing exactly that in the past four trading sessions. The stock is up by 8.67 per cent in previous four trading sessions with each session showing increase in average traded volume on BSE. 

Vodafone Idea is one of the star performers in 2020 that has fizzled out in 2021, so far. The stock almost doubled in 2020 not before reaching ~ Rs 3 per share levels in March when the overall markets saw a massive covid-led sell-off and testing a high of ~ Rs 12 per share in the same year. With huge expectations in the counter punters traded in the counter hoping for a repeat in performance from the beleaguered telecom player. However, after making a high of Rs 13.80 per share the rally in the stock fizzled out. Vodafone Idea on YTD basis is down by more than 16 per cent. 

Telecom stocks have been underperforming in 2021 with Bharti Airtel trading flat on YTD basis. Investors betting on Vodafone Idea believe that the company will survive these hard times and eventually will become profitable as the data consumption and internet use via mobile is on the rise.