Vodafone Idea (Vi), the third-largest telecom operator in India, is having a pretty good day on the stock exchanges of India. At the time of writing, the stock of Vi is trading 4.40% in the green at Rs 9.50. It is worth noting that Vi is expected to release the earnings report for Q1 FY23 on Wednesday. There are no profits expected. Hence the upbeat trend for purchasing the telco's stock is a little hard to comprehend. Further, Vi didn't even purchase 5G spectrum for all circles of India. Its 5G offerings will also be fairly limited compared to what Jio and Airtel will offer.
Vodafone Idea Stock Details
Vodafone Idea's stock had previously closed at Rs 9.10. On Tuesday morning, Vi's shares opened at Rs 9.25 price point. Until now, the stock has touched the day's high figure of Rs 9.55.
Vi's stock is going up while, at the same time, Airtel's stock is in the red. At the time of writing, Airtel's stock is trading 0.46% in the red at Rs 691.40. If you are a Vodafone Idea investor, today was a good day for you. In general, Vi's stock has been struggling a lot for the last few years because of the non-profitability factor. The company isn't making money and isn't adding new subscribers, but its debt is growing. With 5G and new revenue streams, Vi would want to change this as fast as possible.
