Axiata may sell Idea stake in three ranches

Idea Cellular touched an intraday high of Rs 67.50 and an intraday low of Rs 66. At 13:47 hrs the share was quoting at Rs 66.80, up Rs 0.20, or 0.30%.

Axiata may sell Idea stake in three ranches. The threat of license cancellation, spice merger penalties are the prime reason for exit, quoting Sources, reports CNBC-TV18.
 
Axiata is likely to sell 5.01% in Idea in first tranche and seek to bring stake below 10% in second tranche. It may have discussed stake sale with AB Group. However, Birlas are against strategic stake sale by Axiata.

Axiata is holding 19.8% in Idea Cellular through TMI Mauritius and TMI India. Birla Group is holding 46.9% in Idea Cellular.
 
It was trading with volumes of 698,011 shares. In the previous trading session, the share closed down 0.22% or Rs 0.15 at Rs 66.60.

Share Price Movement During The Last 12 Months
Period	Price	Latest Price	Gain/Loss (Rs.)	% Gain/Loss
3-Days	66.75	66.80	0.05	0.07
5-Days	65.70	66.80	1.10	1.67
7-Days	65.30	66.80	1.50	2.30
15-Days	67.55	66.80	-0.75	-1.11
1-Month	60.65	66.80	6.15	10.14
3-Month	68.80	66.80	-2.00	-2.91
6-Month	72.50	66.80	-5.70	-7.86
9-Month	65.90	66.80	0.90	1.37
1-Year	66.60	66.80	0.20	0.30