The Indian stock market began the new fiscal year 2025-26 with a significant downturn; however, Vodafone Idea started the new fiscal year with an upper circuit. On Tuesday, April 1st, the telecom company's shares hit the upper circuit as soon as the market opened, resulting in a sharp surge in share prices.
Share Price: Vodafone Idea (Vi) shares witnessed an unexpected surge today, opening directly at ₹7.49, a 10 percent increase. These shares closed at ₹6.81 on Friday of the previous week. This sudden surge caused the company's shares to close with an upper circuit. The primary reason for this surge is news from Sunday, where the government agreed to increase its stake in Vodafone Idea.
Government's Stake Increase
The company announced on Sunday that the government has agreed to increase its stake in Vodafone Idea from 22.6 percent to 48.99 percent by acquiring new shares worth ₹36,950 crore in exchange for the outstanding amount from the spectrum auction. This decision indicates financial strengthening for Vodafone Idea, as the government's increased stake is expected to improve the company's financial situation.
Market Cap and 52-Week High-Low Status
Currently, Vodafone Idea's market capitalization is ₹53,473.38 crore. However, the company's shares are still significantly below their 52-week high of ₹19.15, while their 52-week low was ₹6.60. Despite this surge, it may still take some time for the company's shares to reach their 52-week high. Today's surge in Vodafone Idea shares has excited investors. Retail investors, in particular, were attracted by this surge, but due to the upper circuit, they did not have the opportunity to buy these shares today.
