Vodafone Idea extends rally, zooms 129% in 10 trading sessions

Shares of Vodafone Idea continued their northward movement, and were trading higher for the 10th straight session on the National Stock Exchange (NSE). The stock price surged 20 per cent to Rs 12.60 on the NSE on Monday in the early morning trade.

In the past 10 sessions, the stock price of the telecom services provider has zoomed 129 per cent from level of Rs 5.50 hit on May 26, as compared to 12 per cent rise in the Nifty 50 index. It is trading close to its 52-week high of Rs 14 touched on June 6, 2019.

The stock is trading above its rights issue price of Rs 12.50 per share for the first time since July 5, 2019. Last year, Vodafone Idea had raised Rs 25,000 crore through rights issue, by issuing 87 rights shares for every 38 shares held by the shareholders.