Idea Cellular has gained 3% at Rs 81.30 on back of block deals on the National Stock Exchange (NSE). As many as 12.2 million shares have changed hands on the counter on the NSE on morning deals.
According to market reports, US-based private equity (PE) player Providence Equity Partners may exit from the company. Providence holds 9.99% or 33 million shares in Idea Cellular.
The stock opened at Rs 78.50 and hit a high of Rs 81.60 on the NSE. A combined 12.34 million have changed hands on the counter till 0930 hours, as against an average 4.6 million shares traded daily in past two weeks.
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