- Date : 30/08/2023
- Read: 3 mins
Vodafone Idea’s stock is a penny stock priced under ₹10. The stock has recently delivered attractive returns with its intraday price moving up by up to 10% and hitting the upper circuit. Check out the stock’s latest performance.
Penny stocks are those that are priced very low. These stocks are prone to high volatility and can deliver exponential returns and considerable losses. However, if you choose the right stock, you can earn good returns on your investments. Recently, the stock of Vodafone Idea, a penny stock, has performed considerably well. On 25th August, the stock prices surged up to 10% and hit the upper circuits on intraday trade. The stock’s trading volumes also increased, which has spotlighted Vodafone Idea. Let’s check out how the stock has performed in recent times.
Highlights
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Penny stocks are low-priced stocks which have the potential to deliver good returns
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Vodafone Idea is a penny stock that showed a considerable jump on intraday trading on 25 August
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The stock jumped 10% with 3.4 times increased trading volumes
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Over the past too, Vodafone Idea’s stock has delivered impressive performance, making it a good buy
Performance of Vodafone Idea on 25th August
The penny stock of Vodafone Idea began the trading session priced at ₹8.03, which was 1% higher than last day’s closing price of ₹7.95. During the intraday trading sessions, the stock registered an 11% jump in its price, and the trading volumes also increased. As the markets closed, the stock closed at ₹8.69 while the trading volume increased by 3.4 times on the Bombay Stock Exchange (BSE).
Also Read – Know what penny stocks are and the pros and cons of investing in them.
Over the last week, between 21st and 25th August 2023, the company’s stock has delivered a 14% return, and over the last three months, there’s been a growth of 24%
Financial Performance of Vodafone Idea
The stock’s growth can be attributed to its robust financial performance. Have a look –
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After the April-May-June 2023 quarter, the company reported a 2.36% YoY growth in its revenue which grew from ₹10,410 crores to ₹10,656 crores.
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The operating profit, however, showed a decline as it fell from ₹4328 crores reported last year to ₹4156 crores after the June quarter. On a quarterly basis, the operating profit fell from ₹4210 crores reported last quarter.
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Compared to a net loss of ₹6424 crores in the January-February-March 2023 quarter, Vodafone Idea reported an increased net loss of ₹7840 crores.
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The debt, however, reduced considerably from ₹1,25,940 crores in the financial year 2019 to ₹49,411 crores in the financial year 2023.
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The Bottom Line
Vodafone Idea can be a good investment choice as the company is one of the leading players in the telecom sector. However, do your research to make an informed decision.
Also Read – Know how to pick the best penny stocks
Disclaimer: This article is intended for general information purposes only and should not be construed as insurance or investment or tax or legal advice. You should separately obtain independent advice when making decisions in these areas.
