Stock Market LIVE: After the bidding of Vodafone Idea FPO (Follow-on Public Offer) ended, the share price of Vodafone Idea took a great leap today. The telecom stock rose 10 percent during Tuesday’s trading.
How much has the stock price increased today?
Shares of Vodafone touched an intraday high of ₹14.75 per share at ₹13 on the day. The stock has bounced back from its intraday high. It is currently trading at around ₹14.30 per cent, up nearly 10 per cent from Monday’s close of ₹12.90 on the NSE.
According to stock market experts, Vodafone shares are rising on short-term sentiment regarding Vodafone Idea FPO subscription status. According to market experts, the FPO has been fully subscribed following strong response from institutional investors worldwide. As the company managed to make its target, short-term investors are looking positively at Vodafone Idea shares after this development.
This increase in Vodafone Idea share
Experts are citing various reasons for the increase in Vodafone Idea’s share price. According to many, the strong response to the ₹18,000 crore FPO is the reason why Vodafone Idea’s share price rose today. Vodafone Idea FPO has received a great response from institutional investors worldwide. Which created a bully attitude in Dalal Street.
What will this money be used for?
The company said the key is to generate interest in the product currently in the market through 5G rollout, upgrading of 2G sites to 4G sites and recent promoter funding.
of the company.
How much can Vodafone Idea share target go?
Technical analysts say Vodafone Idea target price will be Rs.18. Now the stock is on top of the breakout at 14.30. If the stock breaks out above ₹14.30 on a closing basis, we can expect Vodafone Idea shares to touch ₹17 to ₹18.
So Vodafone Idea shareholders are advised to maintain stop loss at 11. Until Vodafone share goes above ₹ 14.50 level at 14.30 per share one should upgrade stop loss at ₹ 12.50 and wait for short term target. Which can give you ₹17 to ₹18 per share.
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