New Delhi, Oct 13 (PTI) Shares of Idea Cellular soared
nearly 6 per cent today after shareholders of the telecom
operator approved the scheme relating to the merger of its
mobile business with Vodafone India.
The stock jumped 5.91 per cent to end at Rs 78.90 on BSE.
During the day, it soared 8 per cent to Rs 80.50.
At NSE, shares of the company zoomed 5.83 per cent to
close at Rs 78.90.
The company’s market valuation rose by Rs 1,593.6 crore
to Rs 28,460.60 crore.
In terms of equity volume, 34.25 lakh shares of the
company were traded on BSE and over 2 crore shares changed
hands at NSE during the day.
Over 99 per cent of Idea shareholders voted in favour of
the merger at the shareholders’ meeting on October 12, 2017,
the filing by the Aditya Birla group firm stated today.
Earlier this year, Vodafone India and Idea Cellular had
agreed to merge their operations to create the country’s
largest telecom operator worth of more than USD 23 billion
with a 35 per cent market share. PTI SUM
This is published unedited from the PTI feed.