Vodafone Idea share price rebounds from intraday low despite weak subscriber data; telecom stock down 27% in 3 months

Vodafone Idea share price recovered from the day’s low to trade over 1% higher on Thursday. The telecom stock opened higher at ₹6.99 on the BSE, compared to its previous close of ₹6.93, and touched an intraday low of ₹6.93. However, Vodafone Idea share price rebounded to a high of ₹7.05, up 1.73%.

The recovery in Vodafone Idea shares comes amid sustained selling pressure in recent months. Vodafone Idea shares have plunged 27% in the last three months and are down 13% year-to-date. Over the past year, the telecom stock has declined 45%, although it has delivered 67% returns over the last five years.

Telecom Subscriber Data

The upmove followed the release of March subscriber data by telecom regulator TRAI, which highlighted continued challenges for the telecom operator. Vodafone Idea lost 5.41 lakh subscribers during the month, reducing its total mobile user base to 20.53 crore.

In contrast, market leader Reliance Jio added 21.74 lakh users, taking its subscriber count to 46.97 crore, while Bharti Airtel added 12.50 lakh users, bringing its total to 38.98 crore.

According to TRAI, total wireless subscribers (including mobile, 5G, and fixed wireless access) increased from 1,160.33 million in February to 1,163.76 million in March, registering a monthly growth rate of 0.28%. Urban wireless subscriptions declined slightly to 632.57 million, while rural subscriptions rose to 531.18 million during the same period.

Vodafone Idea share price hit a 52-week high of ₹19.15 apiece on June 28, 2024, and touched a 52-week low of ₹6.60 apiece on November 22, 2024, on the BSE.

At 12:35 PM, Vodafone Idea share price traded 0.29% higher at ₹6.95 apiece on the BSE, with a market capitalisation of more than ₹75,298 crore. 

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