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Record! Over 4 billion shares of one company change hands in one day
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Summary
The BSE and NSE each saw trading of at least two billion shares of Vodafone Idea on the day the company’s new shares got listed on the exchanges.
After the follow-on public offer (FPO), new shares of Vodafone Idea got listed on the stock exchanges today at a premium of 9% to the issue price.
The debt-laden telco saw heavy trading activity following the listing of new shares.
Over 2.14 billion shares of Vodafone Idea traded on the NSE. The combined value of these transactions was ₹2,974.26 crore.
Similarly, over 2.08 billion shares changed hands on the BSE and the combined value of the transactions was more than ₹2,888 crore.
Shares of Vodafone Ideas closed 5.27% higher at ₹13.78 apiece on the BSE.
“A drop below ₹11 seems unlikely given the company’s turnaround potential. Positive signs and potential post-election tariff hikes could trigger fresh buying after this initial volatility. Aggressive investors with a long-term view might consider holding onto the stock, aiming for a potential rise towards ₹18 in the future,” Shivani Nyati, Head of Wealth, Swastika Investmart, said.
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