Since when the news has spread about the California based tech-giant eyeing a stake in debt-ridden tel-com company Vodafone-idea, its share prices on national exchanges are rallying. Voda CMP at NSE is Rs. 12.00 up by 14.29% by last day close price.
Here, Google seems to be left in the race behind Facebook which as acquired a stake of 9.99% in Reliance Jio platform. But Google may have a plan to invest in India in one way or another.
In April this year, its UK based parent company, Vodafone Plc, has made a payment of 200 Million USD to clear its last year September dues. This, too, caused a jump of almost 14% in a single trading session climbing to Rs. 4.55.
The investors seem to be optimistic considering the future of this stock and pouring a lot of money in this stock which has doubled its market cap to Rs. 34,000 crore(approx. figure) and this company can perform better in coming days thanks to the increased tariff plans.
The tel-comm sector seems to be unaffected by the lock-down throughout the country for past few weeks and here vodafone-idea can emerge better than before.