InvestorQ : What triggered the sharp rally in the Vodafone Idea stock on 29 May?
prachi Patwardhan made post

What triggered the sharp rally in the Vodafone Idea stock on 29 May?

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5 months ago
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In one word, it was Google all the way for Vodafone Idea. In fact, the stock of Vodafone Idea rallied by 35% to Rs.7.85 after reports that the Google was in talks to buy a 5% stake in Vodafone Idea. After dipping to below Rs.3, Vodafone Idea is trading at the highest level since mid-March. Google had been also trying to buy a stake in Jio Platforms but could not agree on the valuations. It is expected that the deal, if it comes through, could give a lifeline for Vodafone Idea which needs to pay Rs.53,000 crore towards AGR charges retrospectively since 2003.

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