The stock market is on a downtrend. Profit booking is being seen in the market today after 3 consecutive days of gains. However, shopping was also seen in many places in the market. Because of this the whole stock market (stock market today) The losses have been limited, not only that, investors are also making a lot of money in many stocks. One of these stocks is Vodafone Idea. The stock has seen gains of up to 10 per cent in today’s trading. The rise in the stock comes after reports that Amazon (Amazon) Vodafone can invest in Idea. Vi is constantly looking for investors to settle its debts and grow its business. In a bid to raise funds, the stock rose after news of a money-laundering from Amazon. However, there is no concrete indication from the company about this news. As a result, some of its gains in the stock fell by midday trading.
Where the stock arrived
Shares of Vodafone Idea have been rising since this morning. However, the middle saw strong buying and the stock reached a 10.23 day high. The stock has previously closed at 9.3. That is, the stock saw a maximum increase of 10 per cent against the previous closing level. The stock has a year high of 16.79. At the same time, the stock also reached a low of 4.55 during the year. On the other hand, the entire stock market today is seeing sluggishness. Although the market is in the red, key indicators are close to previous levels.
Why the Vodafone Idea market has grown
The main reason for today’s acquisition of Vodafone Idea is a report that says e-commerce giant Amazon is planning to invest Rs 20,000 crore in telecom operators and is moving in this direction. This report is published by The Kane. Vodafone Idea, which is on the verge of bankruptcy due to increasing economic pressures, has been backed by the government through new policies. And the company is managing the money to get back on track. For which the company is talking to various investors. The company’s own efforts have also begun to bear fruit.
The number of the company’s 4G subscribers increased in the March quarter. At the same time, consolidated operating profit increased 22 percent. This increase in profits is due to the increase in rates last year. According to the report, Amazon is the only cloud service giant that has no telecom partner. Vodafone Idea, on the other hand, is the only telecom operator in which no major American tech company has invested.
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