Shares of debt-ridden telecom operator Vodafone Idea were trading in the green on Tuesday as the telco on June 13 will consider proposals for the issuance of equity shares and convertible securities on a preferential basis to vendors.
The Vodafone Idea stock rose 0.25% to Rs 15.85 on BSE. Market cap of the telco climbed to Rs 1.05 lakh crore. Total 47.69 lakh shares of the firm changed hands amounting to a turnover of Rs 7.58 crore on BSE.
In terms of technicals, the relative strength index (RSI) of Vodafone Idea stands at 60.2, signaling it's trading in the overbought zone. Vodafone Idea stock has a one-year beta of 1.8, indicating very high volatility during the period. Vodafone Idea shares are trading higher than the 5 day, 10 day, 20 day , 50 day, 100 day, 150 day and 200 day moving averages.
The stock hit a 52 week low of Rs 7.18 on July 13, 2023 and a 52 week high of Rs 18.42 on January 1, 2024.
“We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, 13 June 2024, inter-alia, to consider and evaluate proposals for issuance of equity shares and / or convertible securities on a preferential basis to vendors, subject to such approvals as may be required, including approval of the shareholders of the Company. The trading window for dealing in securities of the Company shall be closed from Tuesday, 11 June 2024 till Saturday, 15 June 2024 (both days inclusive), said the firm in a communication to bourses.