Shares of Vodafone Idea on Wednesday surged up to 12 per cent in intra-day trades after shareholding data indicated that Rajiv Jain led c may have pruned its holding in the company.
The rally also came as the company announced that it has partnered with HCL Software to make its 4G and 5G networks smarter and more efficient.
The VIL scrip touched an intra-day high of ₹9.24 on the BSE — a gain of 11.86 per cent over its last close. It, however, pared some of the gains to settle at ₹8.76 — a rise of 6.05 per cent. More than 17.44 crore shares were transacted on the exchange, which was above the two-week average quantity of 4.78 crore shares.
On the NSE, the Voda Idea share finished higher by 6.06 per cent at ₹8.75.
Shareholding data for the quarter ended December 31 showed that foreign portfolio investors (FPIs) held 9.89 per cent in the firm, which is lower than 12.69 per cent in the preceding three months.
However, the name of GQG Capital Partners did not appear in the list. It held 1.04 per cent in the July-September 2024 quarter. This would indicate that the investment firm may have either brought down its stake to below 1 per cent or it has exited the telco.
