InvestorQ : Why did the Vodafone Idea stock surge by 20% during the day on 02 Jun?
Anamika Sodhani made post

Why did the Vodafone Idea stock surge by 20% during the day on 02 Jun?

Answer
user profile image
Angel dcosta answered.
3 months ago


The anticipated Google deal with Vodafone appears to have buoyed the stock. On 02 June, the stock of Vodafone Idea soared 20% to Rs.7.85. The stock has more than doubled and is at a multi-month high. It has rallied 35% in the past three days. While the company has clarified that there was no firm commitment from Google to buy a 5% stake, markets are betting on the report in FT, London that tech companies may look at options other than Jio to take a stake in Indian digital economy. On 02 June, the stock counter saw 105 crore shares change hands on the two exchanges put together and it closed 20% higher. It seems to be a clear digital up-voting for the stock.