Shares of Idea Cellular rose over 7 per cent in the morning trade on the Bombay Stock Exchange today amid reports that the Aditya Birla Group firm is in talks with global telecom operators to sell its stake in the company.
The stock jumped by 7.48 per cent to touch a one-month high of Rs 72.50 on the BSE after reports surfaced that the group is scouting for buyers for the telecom company and has held discussions with several international players.
Similarly on the National Stock Exchange, the scrip skyrocketed by 19.76 per cent to touch a 52-week high of Rs 80.90. However, it later trimmed most of its early gains and was trading at Rs 68.90, up 2 per cent.
During the pre-noon session, the scrip was quoting up by 2 per cent at Rs 68.80 on the BSE and 1.85 per cent at Rs 68.80 on the NSE.
Aditya Birla Group holds an about 47 per cent stake in Idea Cellular.