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Idea Cellular gains on talks of stake sale in tower arm

The stock was up 5% to Rs 79.70 on the NSE in intra-day trade on back of heavy volumes.

SI Reporter  |  Mumbai 

Idea Cellular was up 5% to Rs 79.70 on the National Stock Exchange (NSE) in intra-day trade on reports that the Aditya Birla Group's telecom major has put on block 100% stake in its tower arm. The Exchange has sought clarification from Idea Cellular with respect to news article appearing on Moneycontrol.com on November 29, 2016 titled "Idea Cellular plans to sell 100% in tower arm for $1 billion,” the NSE said in a statement. The reply is awaited. Idea Cellular Infrastructure Services Limited, a subsidiary of Idea Cellular, is a Tower Company owning ...

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First Published: Tue, November 29 2016. 15:22 IST
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