Vodafone Idea surges on partnering with L&T for pilot project to test 5G-based smart city solutions
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Vodafone Idea is currently trading at Rs. 10.48, up by 0.48 points or 4.80% from its previous closing of Rs. 10.00 on the BSE.
The scrip opened at Rs. 10.02 and has touched a high and low of Rs. 10.92 and Rs. 9.58 respectively. So far 65724797 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 13.80 on 15-Jan-2021 and a 52 week low of Rs. 4.55 on 05-Aug-2021.
Last one week high and low of the scrip stood at Rs. 10.92 and Rs. 9.58 respectively. The current market cap of the company is Rs. 29971.01 crore.
The promoters holding in the company stood at 72.05%, while Institutions and Non-Institutions held 5.59% and 22.36% respectively.
Vodafone Idea and smart world and communication business of engineering and construction conglomerate Larsen and Toubro (L&T) have joined hands for a pilot project to test 5G-based smart city solutions. This is part of the ongoing 5G trials on government-allocated spectrum. The companies will collaborate to test and validate 5G use cases built on Internet of Things (IoT), Video AI (Artificial Intelligence) technologies leveraging L&T's Smart City platform - fusion, addressing the challenges of urbanisation, safety and security and offering smart solutions to the citizens.
The company has been allocated 26 GHz and 3.5 GHz spectrum in the mmWave band by the Telecom Department, for their 5G network trials and use cases.
Vodafone Idea is an Aditya Birla Group and Vodafone Group partnership. It is developing world-class infrastructure to introduce newer and smarter technologies, making both retail and enterprise customers future ready with innovative offerings conveniently accessible through an ecosystem of digital channels as well as extensive on-ground presence.
