To the brink & back: Vodafone Idea shares jump 18%

"All factors have been subsumed in the discussions within the government on the telecom sector. Post-AGR, the Finance Ministry is trying to understand the impact of the order on the telecom sector," Sitharaman said.

To the brink & back: Vodafone Idea shares jump 18%
Vodafone-Idea (VIL) on Monday advanced nearly 18 per cent on the NSE over investors renewed interest in telecom stocks over a possible government-led revival, Photo: Reuters
Written By: IANS
Updated: Mon, Nov 18, 2019
03:09 pm
Mumbai, IANS
RELATED NEWS
Airtel vs Reliance vs Vodafone-Idea: Which Telecom stock should you buy? Edelweiss explains Airtel vs Reliance vs Vodafone-Idea: Which Telecom stock should you buy? Edelweiss explains
Axiata's Voda Idea rights issue entitlement fully subscribed Axiata's Voda Idea rights issue entitlement fully subscribed
Speed test winner: Reliance Jio beats Airtel, Vodafone-Idea, offers double speed than nearest competitor Speed test winner: Reliance Jio beats Airtel, Vodafone-Idea, offers double speed than nearest competitor

Vodafone-Idea (VIL) on Monday advanced nearly 18 per cent on the NSE over investors renewed interest in telecom stocks over a possible government-led revival. Bharti Airtel also surged by 3.5 per cent.

This comes after Finance Minister Nirmala Sitharaman on Friday stated that the government doesn`t want any telecom company to shut operations.

"All factors have been subsumed in the discussions within the government on the telecom sector. Post-AGR, the Finance Ministry is trying to understand the impact of the order on the telecom sector," Sitharaman said.

Airtel and Vodafone Idea -- have posted a combined loss of Rs 74,000 crore in Q2 by provisioning for the AGR pending dues. Vodafone has hinted at not being able to remain as a going concern if relief does not come for the sector.