Vodafone Concept shares drop 4% after telco clarifies on treasury inventory switch report. Here is what it mentioned
UK-based Vodafone Plc, which owns a 19% stake in Vodafone Concept, was contemplating transferring a part of its shareholding to the corporate itself for the Indian telco to carry in its treasuryBloomberg reported, citing folks acquainted with the matter. It added that the share switch would happen as a substitute of Vodafone injecting additional cash into the Indian enterprise.
The corporate’s shares sharply rallied greater than 8% on Monday regardless of the general inventory market crash following the report, which claimed that the transfer may enhance the stability sheet of the loss-making Vodafone Concept, and assist its present efforts to lift debt.
Vodafone Concept’s clarification
After exchanges sought clarification from Vodafone Concept following the sharp surge in share value, the corporate mentioned that it has not but acquired any communication associated to this from the Vodafone Group.
Vodafone Concept mentioned that the report might presumably be referring to disclosures already made in December final yr concerning the Contingent Legal responsibility Adjustment Mechanism (CLAM) association. As a part of the December trade submitting, which the corporate reshared yesterday, Vodafone Concept had introduced that it amended a significant settlement with its UK-based guardian firm to safe the restoration of almost Rs 5,836 crore linked to liabilities arising from the 2017 Vodafone-Concept merger.
Vodafone Concept share valueVodafone Concept shares have seen a major surge lately, leaping 10% in a single week and 28% in a single month. Shares of the telecom firm are up greater than 2% in 2026 to this point.
In the long run, the inventory jumped over 67% in a single yr, 69% in three years and greater than 34% in 5 years. The corporate at present has a market capitalisation of greater than Rs 1.26 lakh crore.
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