Vodafone Idea Shares Surge 5% Following 5G Service Launch

Shares of Vodafone Idea on Wednesday ended 5 per cent higher after the firm launched its 5G services in India, starting from Mumbai with five more cities up next. The stock rose 4.93 per cent to settle at Rs 7.45 apiece on the BSE. During the day, it surged 8.73 per cent to Rs 7.72.

On the NSE, it rallied 5.07 per cent to Rs 7.46.

The company's market valuation climbed Rs 2,498.76 crore to Rs 53,187.81 crore.

In volume terms, 1,284.22 lakh shares of the firm were traded on the BSE and 6,818.63 lakh shares on the NSE during the day.

Vodafone Idea on Wednesday launched its 5G services in India, starting from Mumbai with five more cities up next, as the telco bets on the new offering to arrest subscriber churn and place it on a firm footing against larger rivals in the world's second-largest telecom market.