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    Vodafone Idea surges nearly 11% amid telecom upmove

    Vodafone Idea surges nearly 11% amid telecom upmove

    Vodafone Idea surges nearly 11% amid telecom upmove
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    By CNBCTV18.com  IST (Updated)

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    According to analysts, Airtel's inclusion reflects a positive overall outlook on the industry. And it is rubbing-off on Vodafone Idea, so much so that the stock touched a 52-week high of Rs 13.53 on Friday.

    Vodafone Idea shares surged nearly 11 percent in trade Friday amid recent and continuing strength in telecom shares that has seen the company's shares jump 35 percent in one month.
    Shares of Bharti Airtel, which have also risen over 20 percent in one month, jumped nearly 4 percent today.
    Telecom shares have risen over the past few months amid a broader consolidation in the sector and as the players have looked to hike tariff prices.
    Recently, MSCI also announced that Bharti Airtel's weightage will be increased in its global indexes.
    Besides, the Vodafone Idea idea stock looks strong technically, according to analysts that have looked at the chart.
    Vodafone Idea shares have risen by more than 5 times from lows of the past one year, after the company staved off near bankruptcy and underwent a rebranding exercise to start afresh.
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