Vodafone Idea rallies for 6th day in a row, jumps 11%; here's why

As the sector continues to remain under unsustainable financial duress, Voda Idea is hoping that the government will provide the necessary support to address all structural issues faced by the sector

Shares of Vodafone Idea soared 11 per cent to Rs 8.04 on the BSE in intra-day trade on Tuesday amid heavy volumes in an otherwise subdued market. At 10:40 am, the stock of the telecom services operator was up 8 per cent, as compared to a 0.29 per cent decline in the S&P BSE Sensex. A combined 491 million equity shares had changed hands on the counter in the first one-and-half hour of trading on the NSE and BSE.

In the past six trading days, Vodafone Idea has gained 34 per cent as the telecom company said it is hopeful that