Vodafone Idea Stock Soars 9% Amid Rs 55,440 Crore Capex Plan: Anil Singhvi’s Insights

Vodafone Idea Stock Soars 9% Amid Rs 55,440 Crore Capex Plan: Anil Singhvi’s Insights

At the beginning of this week, Vodafone Idea (VIL) saw its shares make a positive move—an extension of mild gains recorded during Friday’s trading session.

On Monday, things took a dramatic upswing following the telecommunications company’s announcement that it had agreed deals worth $3.6 billion with Nokia, Ericsson, and Samsung.

Over the next three years, these businesses will supply VIL with network equipment, a move described as being part of the largest capital expenditure (capex) plan ever embarked upon by the Indian firm.

Indeed, VIL’s overall strategy includes spending $6.6 billion in this area alone over a similar period. Monday’s news represents the first time a significant proportion of such funds has been earmarked.

With investors also buoyed by thoughts towards 5G services plus expansion to 4G operations, the share price surged by almost 9 percent during early trading to reach Rs 11.39 each.

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As of our afternoon scribbling market guru, Anil Singhvi pointed out, “Whilst details so far suggest today’s capex announcement should please markets; any lack of further clarity could induce caution”—his advice? “Wait & See!” An FPO has already raised Rs 18,000 crore for Vodafone Idea; discussions are continuing with top lenders to help manage debts of similar size. Conference call: 2:30 pm!