Shares of Vodafone Idea Ltd surged as much as 16.5%, its biggest jump in one month, after data by Telecom Regulatory Authority of India (TRAI) showed the company continued to reign as the top telecom operator in India on the basis of total number of subscribers. However, the company lost a chunk of its users in the month of July.
So far, the stock touched a high of ₹5.66 a share and gained as much as 16.46%, its biggest gain since 16 August. At 9.45am, Vodofone Idea stock was trading at ₹5.36 on the BSE, up 10.29% from its previous close. So far this year the scrip has slumped nearly 77.2%.
Rivals Bharati Airtel Ltd rose 1.9%, while Reliance Industries Ltd gained 0.3%.
The latest subscriber data, released by TRAI, showed Vodafone Idea leading with 38 crore subscribers, followed by Reliance Jio with 33.98 crore, and Airtel with 32.85 crore users.
However, Vodafone Idea's subscriber base fell 33.91 lakh in July from 38.34 crore users in June. Jio had added 85.3 lakh users in June.