The share price of Vodafone Idea slumped more than 21 percent on Tuesday as the stock was banned from trading in futures & options (F&O) segment for today. The stock hit an intraday low of Rs 9.41 apiece after plunging over 21 percent.

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At 12:55 pm, the stock was trading 10.51 percent lower at Rs 10.71 per share on the BSE.

The securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

"Expulsion from the F&O segment is a regressive move given the fact that it helps in future price discovery. This option will now be gone and hence the focus will shift to fundamentals to determine long term market value," said an analyst.

The stock price has zoomed over 86 percent this month so far and 157.07 percent in the last one month.

The recent sharp rally was on account of reports that Alphabet Inc’s Google was exploring to acquire 5 percent stake in the British telecom group’s struggling venture in India.

However, on May 29, the company denied reports on any such talks saying that it was continuously evaluating opportunities for enhancing the stakeholders’ value.

Meanwhile, media reports suggest that the Department of Telecommunications (DoT) plans to send notices to telecom and non-telecom companies to recover the adjusted gross revenue (AGR) dues and licence fees as per the Supreme Court's judgment

Vodafone Idea's total AGR liability stood at approximately Rs 53,000 crore.

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