Why did Vodafone Idea shares pare stellar gains?

Mumbai: Shares of Vodafone Idea witnessed volatile trading and pared early gains on Friday, but still managed to close nearly 13 per cent higher after the telecom major clarified that media reports on US internet giant Google’s interest in the company were incorrect.

The stock pared intra-day gains to settle 12.71 per cent higher at Rs 6.56 a share on BSE. Earlier in the day, it had risen as much as 34.90 per cent to Rs 7.85 a share.

The stock is still up 55.82 per cent for last one month, significantly outperforming benchmark Sensex, which is down 0.9 per cent over the same period.