Why Vodafone Idea stock is falling, Indus Towers climbing today? Details

Shares of Vodafone Idea (Vi) fell 3 per cent to Rs 8.15 on the BSE in Thursday’s intra-day trade after the company said its board will consider fundraising of up to Rs 2,000 crore in a meeting on December 9. The stock has fallen 7 per cent from its opening price level of Rs 8.79 on the BSE. In comparison, the BSE Sensex was up 0.01 per cent at 80,966 at 09:47 AM.

The company is set to consider a proposal for raising of funds by way of issuance of equity shares and / or convertible securities on a preferential basis to one or more entities belonging to Vodafone Group (one of the promoters of the company). Vodafone Plc. is likely to infuse funds in the telecom company.