Vodafone Idea’s (Vi) troubles just don’t seem to end. The private operator’s shares have been falling continuously for consecutive days. In the early market session today, Vodafone Idea’s shares have fallen by more than 20%. Yesterday, we had reported that VI’s stock had dipped by 16% in the noon session. But today, they have fallen even further, and that is not good news for the telco’s investors.
The stock had closed at Rs 6 yesterday and opened very low at Rs 5.40 in the morning today. Vi’s shares have already touched Rs 4.55 (lowest) today. To understand the trend of the stock, Vi’s shares closed at Rs 7.40 on Tuesday, opened at Rs 7.15 on Wednesday, closed at Rs 6 on Wednesday, and opened at Rs 5.40 on Thursday. The daily trend would suggest that the stock’s value is going down rapidly.
Vodafone Idea Stock Down Reason
There are multiple reasons why the stock of Vodafone Idea is down. The first and foremost is the news that Kumar Mangalam Birla is willing to give his promoter stake in Vi to the government. Second is the adjusted gross revenue (AGR) dues decision by the Supreme Court (SC). The third is losing subscribers in consecutive months. Fourth is reporting thousands of crores in losses. Fifth is not being able to find an investor who is willing to drive the company ahead.
These are a few of the major reasons why Vodafone Idea’s stock is going down on a daily. As of the time of this writing, Vodafone Idea’s share has gone up 5%, and today’s dip has reduced to 15%. Regardless, this is fatal news for the investors of the company, and hopefully, a relief package from the government will be able to set things right for the telco. Everyone in the industry is rooting for Vodafone Idea to jump back up so that the balance can be restored and the duopoly between Jio and Airtel can be avoided.