Vodafone Idea reverses losses, jumps 48% on heavy volumes

According to media reports, the government is unlikely to invoke Vodafone Idea's bank guarantees for now.

Shares of Vodafone Idea jumped 48 per cent to Rs 4.49 on the BSE on Wednesday on the back of heavy volumes on report that the government is unlikely to invoke bank guarantees for now. Till 12:29 pm, a combined 355 million shares changed hands on the counter on the NSE and BSE.

In the past seven trading days, the stock has tanked 42 per cent after the Supreme Court dismissed the petitions of telcos seeking a staggered option to pay their Adjusted Gross Revenue (AGR) related dues.

According to a report by The Economic Times, the government