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Monday Blues For Vodafone Idea Stock As It Plunges Another 7%
Vodafone Idea shares continued to dive in trade, falling for the second day in a row. The stock was last quoting at 6.45, down almost 7 per cent in trade.
On Friday, the stock plunged immediately after news reports that the company may have to shut shop, if the government did not provide relief on the liability it faces in past statutory dues following a Supreme Court order, its billionaire chairman Kumar Mangalam Birla said on Friday.
"If we are not getting anything then I think it is end of story for Vodafone Idea," Birla said at the HT Leadership Summit when asked about the future of Vodafone Idea in absence of a government relief on payment of Rs 53,038 crore dues.
"It does not make sense to put good money after bad. That would be end of story for us. We will shut shop," he said in a response when asked if Vodafone Idea will put in more money.
