 "Idea Cellular plunges over 25% from Monday’s intra-day high")
Idea Cellular has slipped 7.6% to Rs 90.15 in intra-day trade on Tuesday, extending its previous day’s 9.5% decline on BSE, after Idea and Vodafone have formally announced a merger with the Birla-owned company.
The stock hit a high of Rs 123.75 on BSE in intra-day trade on Monday, immediately after the merger announcements, has now slipped 27% from those levels.
From Rs 77.80 on January 27 after Vodafone reportedly confirmed that it is in merger talks with Idea Cellular, the stock had zoomed 59%.
According to Religare Capital Markets, Idea’s stock price is already factoring in
The stock hit a high of Rs 123.75 on BSE in intra-day trade on Monday, immediately after the merger announcements, has now slipped 27% from those levels.
From Rs 77.80 on January 27 after Vodafone reportedly confirmed that it is in merger talks with Idea Cellular, the stock had zoomed 59%.
According to Religare Capital Markets, Idea’s stock price is already factoring in
