Vodafone Idea slips after ratings cut by Crisil, Telecom News, ET Telecom

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NEW DELHI: Shares of Telecom firm Vodafone Idea dropped as a lot as 5 per cent to Rs 35.95 in Friday’s session on NSE, their lowest since October 25.

Ratings company Crisil downgraded Vodafone Mobile Services’ non-convertible debentures of Rs 6,000 crore ($860.80 million) to ‘Crisil A+’ with a detrimental outlook from ‘Crisil AA-‘ with a detrimental outlook.

Crisil additionally re-affirmed ranking on business paper programme of Vodafone Mobile Services (VMSL), Vodafone Idea stated on Thursday.

Idea cellular and Vodafone Plc accomplished the merger of their India operations on August 31.

Over 1.42 crore shares of the corporate modified arms as of 0444 GMT, in contrast with their 30-day common of two.46 crore shares.

Around 11:25 am, shares of the corporate traded 3.96 per cent down at Rs 36.35 on NSE.

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