Idea Cellular slips as PE firm to sell stake at discount
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Shares of Idea Cellular were down over 3% at Rs 166 on talk that US-based private equity investor Providence Equity Partners plans to sell part of its stake in the mobile service provider at a discount to the current market price.
On Wednesday, the stock had closed at Rs 172.35 on the Bombay Stock Exchange.
According to reports, the US-based private equity firm plans to sell around 2.4% stake in the mobile phone major through a block deal.
The stock opened at Rs 169 and touched a low of Rs 165 on the BSE so far. Nearly 100 million shares were traded on both the stock exchanges so far.
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The Supreme Court will pass an order today on Delhi Chief Minister Arvind Kejriwal's interim bail in the money laundering case registered against him by the Enforcement Directorate (ED) in connection with the Delhi excise policy case.
A bench headed by Justice Sanjiv Khanna on Wednesday told Enforcement Directorate counsel Additional Solicitor General SV Raju that it may pass the order on interim relief to Kejriwal on Friday.
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Andhra Pradesh Chief Electoral Officer (CEO) Mukesh Kumar Meena on Thursday took stock of the arrangements made for the simultaneous Lok Sabha and Assembly elections 72 hours prior to the polling day in the state on May 13.
The CEO called on the officials from across departments to ensure the elections are held in a "peaceful, fair, and exemplary" manner.
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