Voda Idea shares increase by more than 10 pcs when Vodafone clears the air when leaving the Indian market
New Delhi, November 1 () Vodafone Idea shares on Friday increased more than 10 percent after Vodafone clarified that it will not leave the Indian market.
The shares of the telecommunications operator settled 10.54 percent higher at Rs 4.30 each in the BSE. During intraday trading, shares rose 22.87 percent to Rs 4.78.
Similarly, on the National Stock Exchange (NSE), the shares closed at 4.20 rupees each, 7.69 percent more. During the day, the stock hit a maximum of Rs 4.80, an increase of 23.07 percent.
The company added more than 1.1 billion rupees to its market capitalization, which now stands at 12,356.22 rupees.
On the front of the negotiated volume, more than seven million rupees were negotiated in the BSE, while more than 79 million rupees changed hands in the NSE.
The stock market had asked Vodafone for clarification about the rumors that the British telecommunications giant could leave the Indian market due to increasing losses and the problem of debt restructuring.
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 is malicious, the Vodafone group said in a statement Thursday. . RUJ HRS