Bharti Airtel at record high; Vodafone Idea gains 7% ahead of Cabinet meet

As part of the package, there could be some relaxation on payment of levies to the government including a one-year moratorium on spectrum installment due in April 2022.

Shares of telecom services provider caught investor fancy on Wednesday with Bharti Airtel hitting a new high at Rs 684, up 2 per cent, while Vodafone Idea jumped 7 per cent to Rs 8.90 on the BSE in the intra-day trade, ahead of the Cabinet meet scheduled later in the day. According to reports, the government may discuss a relief package for stressed sector.

Specifically, the Union Cabinet may discuss a bailout package for the telecom sector today, which could include cut in levies that the industry pays, apart from a lenient definition of income (adjusted gross revenue, or