Vodafone Idea Shares Touch 52-Week High; Zoom Over 16 Per Cent

Shares of Vodafone Idea Ltd on Thursday hit its 52-week high on the bourses after the stock spurted over 16 per cent, amidst reports that the firm has raised enough fund for the repayment of interest owed to bondholders within the December 13 deadline.

On BSE, the stock surged 16.51 per cent to its 52-week high value of Rs 16.65. It was later trading at Rs 16.37, up 14.56 per cent over its previous close. On NSE, the share rose 16.43 per cent to its 52-week high value of Rs 16.65.

As per certain media reports, the company has managed to raise funds for repayment of interest to its bondholders amounting to nearly Rs 6,000 crore. The stock has been on an uptrend over the last few days.

Some of the other factors that may have impacted the stock positively include the ongoing efforts of the company to boost its revenue, including the recent tariff hike, traders said.

Last month, the debt-ridden telecom operator announced an increase in mobile call and data tariffs across plans by 18-25 per cent for prepaid customers, with effect from November 25.

(PTI)