Vodafone Idea share price jumps 10% as focus shifts on FPO allotment, listing date

Triggers for Vodafone Idea share

speaking connected the crushed for the rally successful Vodafone Idea stock price, Manish Chowdhury, Head of Research astatine StoxBox said, "An uptick successful Vodafone Idea stock terms contiguous tin beryllium attributed to the beardown effect to the ₹18,000 crores FPO which closed for subscribers yesterday. Vodafone Idea FPO received a beardown effect from planetary organization investors, which has gone down good among Dalal Street bulls. We judge that investors are becoming progressively assured astir the turnaround prospects of the institution going ahead. We judge that the company’s absorption connected 5G rollout, upgradation of 2G sites to 4G sites, and the caller promoter money infusion are cardinal positives generating marketplace involvement currently."

Vodafone Idea stock terms target

On the outlook for Vodafone Idea shares, Sumeet Bagadia, Executive Director astatine Choice Broking said, "Vodafone Idea shares are connected the cusp of a caller breakout astatine ₹14.30 apiece. If the banal gives a breakout supra ₹14.30 apiece connected a closing basis, past we tin expect Vodafone Idea shares to interaction ₹17 to ₹18 apiece levels successful the abbreviated term. Hence, Vodafone Idea shareholders are advised to support a halt nonaccomplishment astatine ₹11 till the banal is beneath ₹14.50. Once Vodafone shares closed supra ₹14.30 per stock level, 1 should upgrade the halt nonaccomplishment astatine ₹12.50 apiece and hold for the short-term, people of ₹17 to ₹18 apiece level."

Also Read: Vodafone Idea FPO allotment day today; stock price, latest GMP, 6 steps to cheque status

On the proposition to caller investors, Sumeet Bagadia said that caller concern is not advisable astatine existent levels. One should either hold for the breakout to hap oregon for correction from existent levels.

"In lawsuit of breakout astatine ₹14.30 apiece level, a caller capitalist tin bargain Vodafone Idea shares oregon the short-term people of ₹17 to ₹18. However, 1 indispensable support the halt nonaccomplishment astatine ₹12.50 per stock level portion taking immoderate presumption this telecom scrip post-breakout," said Bagadia.

Vodafone Idea FPO details

Bidding for the Vodafone Idea FPO closed connected Wednesday. As per the Vodafone Idea FPO subscription status, the follow-on nationalist connection received implicit 6 times a subscription wherever the QIB information got subscribed implicit 17 times and the NII information got booked implicit 4 times. Now absorption has shifted to Vodafone Idea FPO allotment day and listing date. Vodafone Idea FPO allotment is expected contiguous whereas Vodafone Idea FPO listing is expected connected 25th April 2024. As per the marketplace observers, Vodafone Idea FPO GMP contiguous is ₹1.20, which is ₹0.10 little than Monday's GMP of ₹1.30.

Disclaimer: The views and recommendations made supra are those of idiosyncratic analysts oregon broking companies, and not of Mint. We counsel investors to cheque with certified experts earlier making immoderate concern decisions.

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Published: 23 Apr 2024, 01:02 PM IST