 "Idea Cellular, Videocon Industries gain on spectrum deal")
Shares of Videocon Industries and Idea Cellular were trading higher on the bourses after these companies announced a Rs 3,300 crore deal involving the sale of Videocon's spectrum in Gujarat and Uttar Pradesh (West) circles to Idea.
In India’s first telecom spectrum trading transaction, Videocon Telecommunications, a subsidiary of Videocon Industries, on Tuesday sold its spectrum in Gujarat and UP (West) circles to Aditya Birla group’s Idea Cellular at a valuation of Rs 3,310 crore. CLICK HERE TO READ FULL REPORT.
At 03:11 PM, Idea Cellular was up 7% at Rs 150, bouncing back 10% from intra-day low of Rs 137 on the NSE. A combined 15.5 million shares have already changed hands against an average sub six million shares that were traded daily in past two weeks on the BSE and NSE.
Videocon Industries was up 4% at Rs 136, after surging 10% to Rs 143 in early morning trade on the NSE. The trading volumes on the counter jumped more than six-fold with a combined 1.82 million shares changed hands on both the exchanges.
In India’s first telecom spectrum trading transaction, Videocon Telecommunications, a subsidiary of Videocon Industries, on Tuesday sold its spectrum in Gujarat and UP (West) circles to Aditya Birla group’s Idea Cellular at a valuation of Rs 3,310 crore. CLICK HERE TO READ FULL REPORT.
At 03:11 PM, Idea Cellular was up 7% at Rs 150, bouncing back 10% from intra-day low of Rs 137 on the NSE. A combined 15.5 million shares have already changed hands against an average sub six million shares that were traded daily in past two weeks on the BSE and NSE.
Videocon Industries was up 4% at Rs 136, after surging 10% to Rs 143 in early morning trade on the NSE. The trading volumes on the counter jumped more than six-fold with a combined 1.82 million shares changed hands on both the exchanges.