Vodafone Idea shares in focus as Care upgrades credit rating 

Shares of Vodafone Idea are in news today after Care Ratings raised Vodafone Idea’s credit rating a notch to BBB- from the earlier BB+. The credit rating upgrade is likely to push the telco’s prospects of raising Rs 25,000 crore via debt. Vodafone Idea shares rose 10.25% to Rs 8.18 on BSE on Monday. Market cap of the firm stood at Rs 87,432 crore. Total 1483.57 lakh shares of the firm changed hands amounting to a turnover of Rs 115.98 crore on BSE.      

The stock closed 10% higher on Monday after the telecom services provider said that the Government of India (GoI) raised its stake in Vodafone Idea to 48.99 per cent from 22.60 per cent. "The GoI has increased its stake in Vodafone Idea through the President of India (acting through and represented by the Department of Investment and Public Asset Management, Ministry of Finance, Government of India," it said. 

“…Care Ratings Ltd (CARE) has upgraded its rating assigned to the Long-Term Bank Facilities and Short-Term Bank Facilities as per the rating letter issued to the company today,” Vi said in an exchange filing Monday.

Vodafone Idea stock has a one-year beta of 1.8, indicating very high volatility during the period. In terms of technicals, the relative strength index (RSI) of Vodafone Idea stands at 58.5, signaling it's trading neither in the overbought nor in the oversold zone. Vodafone Idea shares are trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, but lower than the 150 day and 200 day moving averages.