Vodafone-Idea stock surges 23% as company clarifies it is not going to exit Indian market

New Delhi: Shares of Vodafone Idea on Friday zoomed over 23 percent in early trade after the company clarified that it is not going to exit the Indian market. Shares of the telecom operator jumped 22.87 percent to Rs 4.78 apiece on the BSE.

Vodafone Group To CNBC TV18: Aware of unfounded & baseless rumours circulating that we have decided to exit the market. We would like to categorically state that this is not true and is malicious pic.twitter.com/l4c7YFPAYO

— CNBC-TV18 (@CNBCTV18Live) October 31, 2019

Similarly, the stock rose 23.07 percent to Rs 4.80 on the NSE. The stock exchange had sought clarification from the company over the rumours of the telecom operator exiting the Indian market because of mounting losses and debt recast issue. British telecom giant Vodafone on Thursday said it will continue to stay invested in the Indian market and is seeking the government’s support to tide over the current challenging times. “Vodafone is aware of the unfounded and baseless rumours circulating in some of the Indian media that we have decided to exit the market. We would like to categorically state that this is not true and is malicious,” Vodafone group said in a statement on Thursday.