Vodafone Idea shares have gained after 5 days of consecutive fall. The stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. 
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Vodafone Idea shares have gained after 5 days of consecutive fall. The stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. Shares of Vodafone Idea were in focus today a day ahead of the meeting of its board to consider raising of funds for the cash-starved telco. Vodafone Idea stock touched an intraday high of Rs 7.08, rising 10.45 per cent against the previous close of Rs 6.41 on BSE. Vodafone Idea stock has gained after 5 days of consecutive fall. The stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages. It has lost 36.85 per cent in a year and fallen 13.67 per cent in 2023.
Total 304.97 lakh shares of Vodafone Idea changed hands amounting to a turnover of Rs 20.75 crore on BSE. The market cap of the telco rose to Rs 21,905 crore.
"We wish to inform you that a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, 31st January, 2023, in relation to the said preferential issue of optionally convertible debentures (OCDs) to ATC Telecom Infrastructure Private Limited (ATC ) and to convene the Extraordinary General Meeting of the Company to seek approval of the shareholders in this regard," said the telco.
"The shareholder resolution dated 21st November,2022 approving the preferential issue of optionally convertible debentures OCDs to ATC Telecom Infrastructure Private Limited (ATC) had lapsed as the OCDs could not be issued within the prescribed period of 15 days and that a fresh approval of the shareholders would be sought as required," said the telco in a communication to bourses.
During its Q2 earnings, the company said, " The Board approved issuance of Optionally Convertible Debentures (OCDs) amounting to Rs 16 billion to ATC Telecom Infrastructure Private Limited (ATC India) subject to conditions precedent."
In terms of technicals, the relative strength index (RSI) of the telco stands at 22.3, signaling the stock is oversold. The stock has a one-year beta of 1.3, indicating very high volatility during the period. Vodafone Idea stock is trading lower than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.
In Q2FY23, the telco reported a widening of loss to Rs 7595.50 Cr compared to the loss of Rs 7296.70 cr in Q1FY23, and a loss of Rs 7,132 crore a year ago quarter.
The firm reported a net revenue of Rs 10,614.6 crore compared to Rs 10410.10 crore in Q1FY23, logging a QoQ growth of 1.96%. In the quarter ended September, the company logged a EBITDA of Rs 4,097.50 crore compared to Rs 4,328.40 crore reported in the quarter ended June, indicating a QoQ fall of 5.33%. The EBITDA margin slipped to 38.6% in Q2FY23 from 41.6% in Q1FY23.
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