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This is an archive article published on February 22, 2011

Idea Cellular shares end 4.84% down

Shares of Idea Cellular recovered some of the early losses and ended lower by 4.84 per cent.

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Shares of Idea Cellular recovered some of the early losses and ended lower by 4.84 per cent at Rs 59.95 after the company denied any breach of merger and acquisition (M&A) norms.

In the intra-day trade,the stock declined by 7.14 per cent to a low of Rs 58.50.

On the National Stock Exchange,Idea’s shares declined by 4.53 per cent to settle at Rs 60.05.

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In terms of volume,over one crore shares of the company were traded on the two bourses.

The Aditya Birla group firm Idea Cellular today said the company’s merger with Spice Communications was approved by court and consummated with the full knowledge of the Department of Telecom.

Meanwhile,the Sensex finished the day at 18,296.16,down 142.15 points.

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