Idea shares surge nearly 7% amid merger reports

Shares of Idea Cellular surged nearly 7 per cent, adding Rs 2,288 crore to its market valuation today, amid reports that the telecom firm is exploring options and is in talks for a possible merger with Vodafone.
Reacting to the buzz, shares of the company soared 6.72 per cent to end at Rs 100.80 on BSE. During the day, it jumped 7.78 per cent to Rs 101.80.
At NSE, shares of the company gained 6.87 per cent to settle at Rs 101.
Following the rally in the stock, the company added Rs 2,288.23 crore to Rs 36,297.23 crore in market valuation.

On the volume front, 27.44 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day.
Meanwhile, BSE has sought clarification from Idea Cellular with reference to news that it is exploring options for strategic deal with Vodafone.