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Stellar Financial Performance Driven by Robust Underwriting and Investment Gains

Analysts said that the company's new CEO, Mohit Joshi, unveiled a 3-year turnaround plan to exceed industry-leading revenue growth by FY27. "We believe near-term monitorable for the company's progress towards this goal would be immediate margin improvement in FY25 and steady revenue growth improvement in subsequent years," said Nomura in a note.

The FPO of Vodafone Idea was open for bidding between April 18 and April 22 as it offered its shares in the fixed price band of Rs 10-11 per share.

Vodafone Idea stock kicked-off the trading session at Rs 11.80 at initial tick but was seen at Rs 13.10 in a few minutes, as the session progressed and buyer lapped up the shares near the FPO price of Rs 11. The stock was settled at Rs 13.10 in the previous trading session on Wednesday.

Shares of Vodafone Idea rebounded more than 11 per cent in the trading session on Thursday after the securities issue in FPO were listed. The stock kicked-off the trading session at Rs 11.80 but was seen at Rs 13.10 within a few minutes.