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Is troubled Indian operator Vodafone Idea (recently renamed Vi) really on the “point of collapse”, as Kumar Mangalam Birla has suggested?
The comments from the chairman of the Aditya Birla Group conglomerate in a letter to cabinet secretary Rajiv Gauba have been widely reported in the Indian press, along with his statement that Vi needs help from the country’s government.
Vodafone Idea shares fell sharply on the stock market for the third consecutive session. The stock is performing weaker as the telecom company faces an existential crisis. Here is all you need to know.
We do not have data on internet shutdowns: Ministry of Communications in Parliament medianama.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medianama.com Daily Mail and Mail on Sunday newspapers.
At 12:20 pm, Vodafone Idea shares were trading weaker by 13.38 per cent on the BSE
Vodafone Idea shares nosedived more than 17 per cent in a strong market to touch fresh 52-week lows a day after the promoter and Aditya Birla group Chairman Kumar Mangalam Birla offered to hand over his stake in the debt-laden telecom company to the government or any other entity that the centre may consider worthy to keep the company operational. The shares of Vodafone Idea had plunged over 10 per cent in Tuesday s session on the back of the news development. At 12:20 pm, Vodafone Idea shares were trading at Rs 6, weaker by 13.38 per cent, on the BSE.