Vodafone Idea loses Rs 12,000 crore in m-cap over two weeks

NEW DELHI: Vodafone Idea’s financial woes have brought its stock value crashing over the past two weeks, with the scrip recording a whopping 42 per cent decline, losing close to Rs 12,000 crore in market capitalisation since July 16.

While stock prices recovered slightly on Tuesday and Wednesday after crashing 27 per cent on Monday post its financial results, the scrip’s value stands at just Rs 6.84 on the BSE, against Rs 11.80 on July 16.

Monday’s crash, according to brokerages, was a direct result of the company’s poorer-than-expected performance during the first quarter, with consolidated net loss at Rs 4,873.90 crore. More concerning for the market, however,