Idea Cellular shares gain over 7% on fund raising plans

Shares of Idea Cellular today jumped over 7 per cent after the company said its shareholders have approved plans to raise up to Rs 10,000 crore through issue of non-convertible securities on private placement basis.
The stock ended the day with a gain of 7.21 per cent at Rs 149.35 on BSE. During the day, it surged 8 per cent to Rs 150.50.
At NSE, the stock rallied 7 per cent to settle at Rs 149.50.
Tracking gains in the stock, the company's market valuation rose by Rs 3,626.47 crore to Rs 53,756.47 crore.
On the volume front, 7.17 lakh shares of the company were traded at BSE and over 96 lakh shares were traded at NSE during the day.

The company said yesterday that the shareholders at its 20th Annual General Meeting (AGM) have approved a special resolution to issue non-convertible securities on private placement basis worth up to an amount of Rs 10,000 crore.