As per media reports, Vodafone Group was to sell almost 18% stake in Indus Towers for up to $2 billion. The shares of Indus Towers have exchanged hands in the price range of Rs 310 and Rs 341 apiece, the reports added.
In 2022, Vodafone had reportedly announced its intention to sell its entire stake in Indus Towers.
On the basis of the intraday movement of Indus Towers scrip, the block deal seems to have taken place in the initial period of today’s trading session.
On the NSE, the stock opened 4.48% lower today at Rs 329.1 compared to its previous close of Rs 344.55. It then witnessed a steeper decline, reaching a day's low of Rs 320.6, marking a 9.62% drop from its previous close.
However, value buying emerged at these lower levels, prompting a partial recovery. The st...
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