Vodafone Idea jumps nearly 4% on stake sale news
Source: IRIS | 20 Nov, 2020, 01.05PM
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Shares price of Vodafone Idea, an India-based telecom service provider, jumped nearly 4% after the company sold its 11.5% stake in Indus Towers for Rs 37.6 billion. The merger of Indus Tower and Bharti Infratel to create a mega tower company has been completed. In accordance with the terms of the agreement and out of the consideration received from Infratel, the Company has made a prepayment of Rs. 24 billion which will be adjusted in line with terms of the agreement.
Shares of Vodafone Idea are trading at Rs 9.61, up Rs 0.34, or 3.67% at the Bombay Stock Exchange (BSE) on Friday at 11:30 a.m.
The scrip has touched an intra-day high of Rs 9.70 and low of Rs 9.50.
The total volume of shares traded at the BSE is 43,662,792.
In the earlier session, the shares gained 0.76%, or Rs 0.07, at Rs 9.27.
Currently, the stock is trading down 28.55% from its 52-week high of Rs 13.45 and above 239.58% over the 52-week low of Rs 2.83.
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