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Shares of Vodafone Idea tank by 5.13% on Monday

Telecom operator Vodafone Idea had sought at least Rs 70 billion in emergency funds from local banks, which are however reluctant to extend fresh loans, according to media reports.

  • The shares of Vodafone Idea declined 5.13 per cent to Rs 7.40 apiece on BSE.
  • During the past five days, the shares of the telco had dropped 7.50 per cent while it lost 6.92 per cent during the last month.
  • Telecom operator Vodafone Idea had sought at least Rs 70 billion in emergency funds from local banks.

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Shares of Vodafone Idea tank by 5.13% on Monday

New Delhi: The shares of Vodafone Idea declined 5.13 per cent to Rs 7.40 apiece on BSE, on Monday. During the past five days, the shares of the telco had dropped 7.50 per cent while it lost 6.92 per cent during the last month.

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Telecom operator Vodafone Idea had sought at least Rs 70 billion in emergency funds from local banks, which are however reluctant to extend fresh loans, according to media reports. Two days ago, banks led by the State Bank of India said they were not in favour of taking further credit exposures to Vodafone Idea.Lenders were awaiting further clarity on the status of the government`s stake in Vodafone Idea and for the promoters of the company to bring in more equity capital, the report stated.