Shares of Vodafone Idea gained nearly 5 percent today amid a report that e-commerce giant Amazon was likely to invest up to Rs 20,000 crore into the telecom operator.
Vodafone Idea share touched an intra day high of Rs 9.36, rising 4.81 percent on BSE. The large cap stock has gained 7.33 percent in two days.
The share trades higher than 5-day and 20-day moving averages but lower than 50-day, 100-day and 200-day moving averages.
Total 223.91 lakh shares of Vodafone Idea changed hands amounting to a turnover of Rs 20.46 crore on BSE.
Market cap of the telco rose to Rs 29,934 crore.
Vodafone Idea has been hunting for investors to raise capital and repay debt. It also plans to utilise proceeds of the fund raising for investing in the network. Earlier, the government had helped the telco to return from the brink of bankruptcy.
In January this year, Vodafone Idea stated that its board had approved conversion of the full amount of interest related to spectrum auction instalments and AGR dues into equity.
Following the conversion, the government would become the single-largest shareholder of the company with 35.8 per cent stake and the promoter shareholders would hold 28.5 per cent (Vodafone Group) and around 17.8 per cent (Aditya Birla Group), respectively.
The telco reported a consolidated loss of Rs 6,563 crore in Q4 against loss of Rs 7,023 crore in the corresponding quarter of last fiscal. Revenue from operations rose to Rs 10,240 crore in Q4 from Rs 9,608 crore a year ago, a growth of 6.5 per cent YoY, supported by tariff hikes effective from November 25, 2021.
VIL also said its average daily revenue climbed 7.7 per cent QoQ, highest quarterly growth since merger, while its average revenue per user (ARPU) stood at Rs 124 vs Rs 115 in prior quarter, a QoQ increase of 7.5 per cent.
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