Vodafone Idea shares decline despite 5G service launch

Vodafone Idea's share price dropped over 2% on Thursday, after seeing gains in the previous two days. The stock had briefly risen to ₹ 7.59 apiece but later fell to ₹ 7.26 on the BSE. Earlier in the week, Vodafone Idea announced the launch of 5G services in Mumbai. This news had helped boost the company's stock, which gained nearly 5% the day before. The company is focused on improving connectivity and has partnered with Nokia for its 5G rollout. Vodafone Idea is offering unlimited 5G data at an introductory price of ₹ 299, which they say is competitive. They are also exploring partnerships with satellite communication providers, including Starlink, to enhance their services. Despite the recent announcements, Vodafone Idea's stock has had a rough time. It has fallen 10% in the last month and over 42% in the past year. The company has raised ₹ 26,000 crore in equity over the past year to expand its network. They plan to invest ₹ 50,000 to 55,000 crore in the next three years to grow their 4G coverage and deploy 5G services.