Vodafone Idea shares continue to rise, jumps 5%

NEW DELHI: Vodafone Idea's stock continued to surge on Friday on the back of reports that suggested retail major Amazon and wireless carrier Verizon were looking to invest over $4 billion in the struggling telecom services company.
On the BSE index, Voda Idea stock zoomed more than 5 per cent to Rs 13.25 in early trade.
However, the telecom operator said that there is no such proposal currently before its board."As and when various proposals are considered by the board warranting disclosures, the company will comply with the disclosure obligations under the Sebi rules," it said in a regulatory filing.

The stock had rallied 30 per cent to Rs 12.9 but closed lower Rs 12.6, up 27 per cent on Thursday.
The stake-buy report came within days of the Supreme Court saying that Vodafone and Airtel will get 10 years to pay their legacy dues, known as AGR (adjustred gross revenue) dues. Vodafone has to pay Rs 50,000 crore through yearly instalments, plus the accrued interest.
Soon after the verdict on Tuesday, Vodafone stock had lost more than 10 per cent but recovered some of the lost ground to close 6 per cent lower.
The telecom company has a market cap of nearly Rs 36,100 crore.