Vodafone Idea shares tank over 6% despite clarification on licence fee

Vodafone Idea shares fell over six per cent on Friday after rebounding sharply a day ago. Find out why the telecom firm's stock dipped today.

Shares of Vodafone Idea Limited (VIL) tanked over 6 per cent on Friday after a sharp rally a day ago. At 2:15 pm, the stressed telecom firm’s shares fell 6.50 per cent on the Bombay Stock Exchange (BSE) and nearly 7 per cent on the National Stock Exchange (NSE). The telecom company’s stock tanked even after the company issued a clarification that it has paid its licence fee dues for the quarter ended June. While Vodafone Idea shares gained nearly 12 per cent yesterday, the rebound came after seven straight sessions of losses.