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Vodafone Idea (IDEA) surged by over 11% (as part of a three-day, 12%+ rally) driven by renewed investor confidence regarding the company's financial turnaround strategy. 

Key Reasons for the Surge:

  • Massive Investment Plan: The rally was triggered by the company announcing plans to invest ₹45,000 crore over the next three years to return to a growth trajectory.
  • Q3 Earnings Improvement: The market reacted positively to Q3 results showing a narrowing of net loss, supported by improvements in Average Revenue Per User (ARPU).
  • Strategic Growth Focus: Investor sentiment was bolstered by the company's push into indigenous 4G and 5G technology, with partnerships aimed at lowering costs and expanding network capabilities.
  • Government Relief Optimism: Market sentiment was further supported by hopes of continued government relief, including a potential moratorium on Adjusted Gross Revenue (AGR) dues. 

The stock has shown strong momentum as part of a turnaround narrative, with shares hitting a one-year high during this period. 

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