After four straight weekly gains, here’s why the stock will be in focus today

After gaining for four weeks in a row, shares of Vodafone Idea will be in the spotlight on Monday, September 18, as well.

The telecom operator informed the exchanges over the weekend that it has made the payment of Rs 1,701 crore, including interest, to the department of telecom (DoT) with regards to the 2022 spectrum auction instalment.

Last month, the company had stated that it proposed to pay the installment of nearly Rs 1,680 crore to the DoT by availing a grace period of 30 days with interest. The company has managed to do so within a 30-day time period.

Vodafone Idea’s management during its earnings call had also mentioned that the fund raising talks for the company have gathered pace in the recent past. However, no clarity has emerged on that front yet.

Shares of Vodafone Idea had ended 7.5 percent higher on Friday as well and have doubled from their 52-week low of Rs 5.7 that it fell to earlier in the year.