Idea shares bounce back, end over 3% higher

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New Delhi | Updated: July 28, 2017 7:51:58 PM

Shares of Idea Cellular today recovered early losses and ended over 3 per cent higher even as the company posted a loss of Rs 815.9 crore in the first quarter ended June 30.

Aditya Birla group, Aditya Birla group news, idea, idea group, idea shares, idea news, idea latest news, idea shares bounce back, aditya birla idea sharesOn the equity volume front, 35.35 lakh shares of the company were traded on BSE and over 3 crore shares changed hands at NSE during the day. (PTI)

Shares of Idea Cellular today recovered early losses and ended over 3 per cent higher even as the company posted a loss of Rs 815.9 crore in the first quarter ended June 30. The scrip opened the day on a weak note and further lost 5.77 per cent to Rs 87.30 in intra-day trade on BSE. The stock later witnessed recovery and ended 3.13 per cent higher at Rs 95.55. At NSE, shares of the company went up by 3 per cent to end at Rs 95.55.

On the equity volume front, 35.35 lakh shares of the company were traded on BSE and over 3 crore shares changed hands at NSE during the day.

The telecom company yesterday posted a loss of Rs 815.9 crore in the first quarter of current fiscal, impacted by sustained pressure from disruptive tariffs of Reliance Jio. This is the third straight quarterly loss for the Aditya Birla group firm as it has not been able to recover from the pressure of aggressive tariff war triggered by Mukesh Ambani- led Reliance Jio Infocomm. Idea Cellular had posted a profit of Rs 217.1 crore in the same period a year ago.

Also Read: Vodafone announces new 4G plan: What are Reliance Jio, Airtel, and Idea giving you in terms of tariff plans and offers

Total revenue of Idea also declined by about 14 per cent to Rs 8,181.7 crore in the reported quarter from Rs 9,552.4 crore in the corresponding period of 2016-17.

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