Share price of Vodafone Idea were trading higher for the tenth straight session on Monday. Stock price of Vodafone Idea opened with a gain of 9.98% today and later touched an intraday high of Rs 12.62, rising 19.96% on BSE in the early morning trade.
Vodafone Idea stock price has zoomed 129% in the past 10 sessions, from the level of Rs 5.50 hit on May 26, 2020.
Vodafone Idea share was trading higher than its 5, 20, 50, 100 and 200-day moving averages. Vodafone Idea stock price has risen 78% in one week, 180% in one month and 89.61% since the beginning of the year. The stock has traded in a wide range of Rs 1.4 in today's session, with an intraday volatility of 5.7%.
Share price of Vodafone Idea has witnessed a spectacular rise since the beginning of June 2020 following reports suggesting that Google is eyeing a 5% stake in the telecom major.
However, Vodafone Idea on May 29, clarified to the exchanges that," As part of the corporate strategy, the company constantly evaluates various opportunities for enhancing the stakeholders' value. As and when such proposals are considered by the board of directors of the company warranting disclosures, the company shall comply with the disclosure obligations."
As per media reports, the 5% stake sale could fetch the company around $101.5 million. The Vodafone Group Plc and the Aditya Birla Group are also reportedly in talks with other private equity firms for potential investments.