Vodafone Idea rebounds 13% from day's low after board approves rights issue

The stock ended 4% higher at Rs 33.40, bounced back 13 per cent from its intra-day low on the BSE on back of heavy volumes.

Shares of Vodafone Idea ended 4 per cent higher at Rs 33.40 apiece on Wednesday. The stock bounced back 13 per cent from its intra-day low on the BSE on back of heavy volumes. The stock of telecom services provider slipped 7 per cent to Rs 29.65 on the BSE in intra-day trade after the company announced its board approved rights issue of Rs 25,000 crore at price of Rs 12.50 per share in the ratio of 87:38.

The trading volumes on the counter jumped four-fold with a combined 140 million equity shares changed hands on the NSE and