Penny Stock Under Rs 10: Only 4 Companies Dominate the Entire Industry, Company’s Stock Surged 10 per cent on Friday and Hit Upper Circuit - Complete Details Inside!
The company has reduced its debt by 60 per cent in just four years.
The shares of Vodafone Idea witnessed a significant surge on Friday. The stock commenced trading at Rs 8.03, marking a 1 per cent increase compared to the previous day's closing price of Rs 7.95. During the intraday session, the stock exhibited a remarkable 11 per cent surge accompanied by significant trading volume. Finally, the company's shares concluded the day at Rs 8.69 each on the BSE.
Upon scrutinizing share volumes, it becomes apparent that there has been a substantial increase of over 3.4 times in trading volumes compared to its average volumes on the BSE.
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The stock's 52-week high and low are Rs 10.08 and Rs 7.83, respectively. With a market capitalization of Rs 42,302 crore, the stock has showcased outstanding performance in recent periods, yielding a remarkable 14 per cent return in the last week and an impressive 24 per cent return in the past three months.
In the June quarter of FY24, the company’s revenue from operations experienced an increase of 2.36 per cent YoY, going from Rs 10,410 crore to Rs 10,656 crore. The operating profit of the company fell from Rs 4,328 crore to Rs 4,156 crore. On a sequential basis, it decreased from Rs 4,210 crore to Rs 4,156 crore, with the operating profit standing at 39 per cent.
On the other hand, the net loss of the company amounts to Rs 7,840 crore against a loss of Rs 6,424 crore in the last March quarter.
The debt on the balance sheet has decreased from Rs 1,25,940 crore in FY19 to Rs 49,411 crore in FY23.
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Vodafone Idea is one of the leading telecom service providers in India. The company is engaged in the business of mobility and long-distance services, as well as the trading of handsets and data cards.
Disclaimer: This article is for informational purposes only and not investment advice.