Vodafone Idea share price jumped over 12 percent on Wednesday after the telco added subscribers in February for the first time since October 2019.

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Vodafone Idea added 6.5 lakh users and expanded its user base to 282.6 million in February, as per the latest data released by the Telecom Regulatory Authority of India (TRAI).

Vodafone Idea's market share in total wireless subscribers stood at 24.20 percent.

India’s largest telecom operator Reliance Jio widened its mobile subscriber base to 414.9 million in February, with a healthy addition of 4.2 million users, as it managed a comfortable lead in the market, TRAI data showed.

Bharti Airtel reported 3.7 million net adds, taking its wireless user base in February to 348.3 million.

Overall, Jio topped net additions in February—the Mukesh Ambani-led company saw a healthy rebound in subscriber net adds at 4.2 million in February, higher than 1.9 million additions in January. Airtel’s net adds in January had been 5.8 million.

As per subscriber data, the total wireless subscribers increased to 1,167.71 million at the end of February 2021, logging a monthly growth rate of 0.72 percent.

The market share of Reliance Jio in terms of total wireless subscribers stood at 35.54 percent, Bharti Airtel at 29.83 percent and Vodafone Idea at 24.20 percent, as per TRAI.

Industry watchers attributed the strong market momentum to positive business sentiments prevailing in February, weeks before the deadly second wave of the COVID-19 pandemic swept through the nation.

At 11:40 am, the shares of Vodafone Idea were trading 9.51 percent higher at Rs 8.87 apiece on the BSE.

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(Disclosure: Reliance Industries Ltd, which owns Jio, is the sole beneficiary of Independent Media Trust that controls Network18, the parent company of CNBCTV18.com.)

(Edited by : Ajay Vaishnav)

First Published:May 12, 2021 12:41 PM IST