Airtel falls 5% as Adani Group mulls 5G spectrum bid; Voda Idea jumps 6%

The reaction comes even as Adani Group said it does not intend to be in the consumer mobility space

Shares of Adani Enterprises (AEL) gained 2 per cent to hit an intra-day high of Rs 2,338.45 on the BSE on Monday after news reports suggested that the Adani Group is planning to participate in the 5G auctions. The stock was trading close to its record high level of Rs 2,420, touched on April 27, 2022.

However, following the report, shares of Vodafone Idea gained 6 per cent to Rs 8.95 on the BSE in the intra-day trade, while the state-owned company Mahanagar Telephone Nigam Limited surged 13 per cent to Rs 22.15, and GTL and Indus Towers jumped