Vodafone Idea Jumps 5% on 5G Launch in India

Vodafone Idea's shares surged by over 5% following the launch of its 5G services in India, beginning from Mumbai. The rollout marks the telco's strategic move to combat subscriber loss and challenge its larger competitors. The service will soon expand to multiple cities, underscoring Vodafone Idea's plans for growth.

Shares of Vodafone Idea surged by more than 5% on Wednesday following the company's launch of 5G services in India, commencing with Mumbai, and planning to expand to five more cities.

The stock rose 5% to Rs 7.46 on the BSE, while at the NSE, it gained 5.21% to Rs 7.47. This launch represents an effort by the financially troubled telco to curb subscriber outflow and strengthen its position in the world's second-largest telecom market.

Vodafone Idea has planned an aggressive rollout aiming for 100 cities over 17 circles in the next three years, with sufficient capital to back its initiatives. Discussions with Satcom partners for potential collaborations are also in progress.

(With inputs from agencies.)