To borrow from Winston Churchill, the movement in the shares of Vodafone Idea Ltd is a riddle, wrapped in a mystery, inside an enigma. Vodafone Idea’s cash balance, meanwhile, has fallen further to ₹15,390 crore, far below the estimated ₹44,150 crore it owes the government. Graphic by Naveen Kumar Saini/MintStill, why should Vodafone Idea’s shares rise at all given the dire straits the company is in? More importantly, Vodafone Idea’s vast 2G subscriber base can’t be expected to quickly find a home in other networks. Of course, despite the 27% rally in Vodafone Idea shares on Friday, the stock still trades at only ₹3.75.

Source: Mint November 17, 2019 15:45 UTC