Vodafone Idea rises 7% on heavy volumes; gains 14% in last four days

The board of directors of the company on March 31, 2022 had approved the allotment of 3,383 million equity shares at Rs 13.30 per scrip to three promoters group entities for about Rs 4,500 crore.

Shares of Vodafone Idea (Vi) moved 7 per cent higher to Rs 11.03 on the BSE in Wednesday’s intra-day trade on the back of heavy volumes, in an otherwise weak market.

At 10:40 am; the stock of Vi was trading 6 per cent higher at Rs 10.95, as compared to a 1 per cent decline in the S&P BSE Sensex. The counter saw huge trading volumes with a combined 214 million equity shares having changed hands on the NSE and BSE. The stock of the telecom services company was trading higher for the fourth straight day and has rallied