• Source:JND
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Following Ericsson India's sale of a nearly 1% stake in the indebted telecom company for Rs 428 crore in an open market transaction, Vodafone Idea's shares fell by nearly 2% on Wednesday. On the BSE, the stock fell 1.91 per cent to Rs 6.65. It fell 1.77 per cent to Rs 6.65 at the NSE.

Ericsson India sold off over 63.37 crore shares, or 0.9% of the Mumbai-based Vodafone Idea company, according to bulk deal data that was made available on the BSE on Tuesday.

The transaction value was Rs 428.44 crore after the shares were sold for an average price of Rs 6.76 each. On the exchange, it was impossible to identify the buyers of Vodafone Idea's shares.

Vodafone Idea announced last week that its March quarter losses had decreased to Rs 7,166.1 crore, and that its board had authorised up to Rs 20,000 crore in fundraising.

Stock Market Today

Following three days of declines, benchmark stock indices, the Sensex and Nifty, recovered in early trading on Wednesday, following a surge in international markets. Early trading saw the 30-share BSE Sensex rise 230.17 points to 80,967.68. At 24,612.75, the NSE Nifty increased by 70.25 points.

The biggest winners among the Sensex companies were Bharti Airtel, Eternal, IndusInd Bank, Maruti, Tata Motors, and Bajaj Finance. ICICI Bank, Titan, UltraTech Cement, and Tata Consultancy Services were among the laggards, though.

(With Inputs From PTI)