Vodafone Idea soars 12% on heavy volumes; here’s why

Shares of Vodafone Idea soared 12 per cent to ₹8.18 on the BSE in Tuesday’s intra-day trade amid heavy volumes. The up move in stock price of telecom services provider came after the company in an exchange disclosure informed that the Government of India (GoI) raised its stake in Vodafone Idea to 48.99 per cent from 22.60 per cent. The GoI has increased its stake in Vodafone Idea through the President of India (acting through and represented by the Department of Investment and Public Asset Management, Ministry of Finance, Government of India).