Idea Cellular announced that the Department of Telecommunications has approved the merger of Vodafone India and Vodafone Mobile Services (VMSL) with Idea Cellular.

The merger is now subject to National Company Law Tribunal, Mumbai Bench, passing the dissolution order of VMSL and VIL, which is expected shortly. 

The stock had underperformed the market over the past one month till Jul. 26, 2018, falling 2.22% compared with the Sensex's 4.21% rise. It underperformed the market in past one quarter, declining 22.99% as against 6.54% rise in the Sensex.

Shares of the company gained Rs 2.35, or 4.13%, to trade at Rs 59.30. The total volume of shares traded was 1,968,186 at the BSE (10.56 a.m., Friday).