Voda-Idea shares increase by 23% as the UK telecommunications giant clears the air as it leaves the Indian market
NEW DELHI: Actions of Vodafone idea On Friday, it zoomed in more than 23 percent in the first operations after the company clarified that it will not leave the Indian market.
The shares of the telecommunications operator rose 22.87 percent to Rs 4.78 each in the BSE.
Similarly, the stock rose 23.07 percent to Rs 4.80 in the NSE.
The stock market had asked the company for clarification about the rumors that the telecommunications operator was leaving the Indian market due to increasing losses and the problem of debt restructuring.
British telecommunications giant Vodafone said Thursday that it will continue to invest in the Indian market and is seeking government support to overcome the current difficult times.
Vodafone is aware of the unfounded and unfounded rumors circulating in some of the Indian media that we have decided to exit the market. We would like to state categorically that this is not true and that it is malicious, the Vodafone group said in a statement Thursday. .