Vodafone Idea tanks 12%, hits 52-week low

Industrialist Kumar Mangalam Birla has expressed willingness to offer his group's 27% stake in VIL to any government or domestic financial entity in order to keep the stressed telecom company alive

Shares of Vodafone Idea (VIL) tanked 12 per cent to hit a 52-week low of Rs 7.26 on the BSE in intra-day trade on Tuesday after reports suggested Kumar Mangalam Birla has told the government that he is willing to give up promoter stake in the company.

The stock of the telecom services company fell below its previous low of Rs 7.60 touched on October 19, 2020. It was trading at the lowest level since July 2020. The stock had hit a record low of Rs 2.61 in November 2019.

Birla has expressed willingness to offer his group’s 27 per cent