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Vodafone Idea shares rally 7% to fresh 52-week high despite market crash. What's behind the surge?
Vodafone Idea shares surged nearly 7% to a new 52-week high after ICRA upgraded the telecom operator’s rating and revised its outlook. Investor sentiment was further boosted by lower AGR dues, promoter support from the Aditya Birla Group and Citi removing its ‘High Risk’ tag while maintaining a bullish outlook.
Vodafone Idea soars 6%, hits 20-month high; stock zooms 75% in 2 months
The capex execution, along with an expected industry tariff rationalisation over the next 12-24 months and improving network quality, are expected to support ARPU improvement and growth, believes ICRA
Vodafone Idea shares rise after second upgrade in rating and outlook within a week
Vodafone Idea informed the exchanges that ICRA has upgraded its credit rating and revised the outlook assigned to 'stable' from its previous rating and outlook of BBB/(Positive).
ICRA upgrades Vodafone Idea’s loan rating to ‘BBB’, outlook raised to positive
ICRA Ltd upgraded Vodafone Idea Ltd’s credit rating to ‘BBB’ from ‘BBB-’ and revised the outlook to ‘positive’ due to regulatory clarity on AGR dues and promoter support.