Vodafone Idea share price gains over 2% after launch of 5G network in 23 cities

Vodafone Idea share price gained over 2% in early trade on Tuesday after the telecom company announced the next phase of its 5G network rollout in 23 cities. Vodafone Idea shares rallied as much as 2.01% to ₹7.59 apiece on the BSE.

The debt-ridden telecom company, Vodafone Idea said it has deployed the 5G network in cities including, Ahmedabad, Agra, Aurangabad, Kozhikode, Cochin, Dehradun, Indore, Jaipur, Kolkata, Lucknow, Madurai, Malappuram, Meerut, Nagpur, Nashik, Pune, Rajkot, Sonepat, Surat, Siliguri, Trivandrum, Vadodara and Vizag.

This expansion, covering all its priority circles of the country, will be executed in a phased manner, it said.

The telecom operator had previously launched its fifth-generation mobile services in five cities: Mumbai, Delhi-NCR, Bengaluru, Chandigarh, and Patna.

“It is part of Vi's broader strategic rollout in 17 priority circles where it has acquired 5G spectrum. Users with 5G-enabled devices in the newly announced cities will be able to access Vi 5G services as the services go live. As an introductory offer, Vi is providing unlimited 5G data on plans starting from ₹299,” Vodafone Idea said in a release on June 30./

Meanwhile, since April last year, Vodafone Idea has deployed 4G on the 900 MHz band across approximately 65,000 sites, significantly improving coverage and indoor connectivity. Additionally, the telco has added over 56,000 sites on the 1800 MHz/2100 MHz/TDD bands resulting in a 35% boost in 4G data capacity and a 26% increase in 4G speeds.

Vodafone Idea’s 4G population coverage has surged by 88 million people rising from 77% in March 2024 to 84%.

Vodafone Idea share price has risen 10% in one week, and gained 9% in one month. The telecom stock is down 6% in six months and has crashed 57% in one year. Vodafone Idea shares have dropped 26% in the past five years.

At 9:45 AM, Vodafone Idea share price was trading 0.40% higher at ₹7.47 apiece on the BSE.

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