Mon Sep 23 07:11:52 UTC 2024: ## Vodafone Idea Stock Surges on Massive Capex Plan

**Mumbai, India:** Shares of Vodafone Idea (Vi) soared on Monday, hitting the upper circuit after the company announced a ₹30,000 crore mega deal with Nokia, Ericsson, and Samsung for network equipment. The deal, part of Vi’s ₹55,440 crore capex plan, is the largest ever investment by the company and the biggest deal in the telecom sector this year.

Vi’s stock opened at ₹11.35, up from its previous closing price of ₹10.48, and reached a high of ₹11.52. The stock was trading around ₹11.11, up 6% from its previous close, as of 10:30 am.

This rally comes after the stock plunged 24% in two days last week following a Supreme Court ruling on AGR dues.

The deal, covering network equipment supply over the next three years, is aimed at boosting 4G subscribers and expanding Vi’s 5G network. It also marks a new partnership with Samsung.

“This is a new beginning for Vi,” said Vi CEO Akshaya Moondra. “We have started the investment cycle and are going to make a smooth transition to take part in the growth opportunities of the industry.”

This investment follows Vi’s successful ₹18,000 crore fundraising through an FPO in April and ongoing talks with banks for an additional ₹25,000 crore loan.

Despite the recent surge, Vi’s stock is still down 15% in the last five days, 29% in the last month, and 34% year-to-date.

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