Vodafone Idea share jumps after it announces to clear dues worth Rs 2,400 crore

The share of Vodafone Idea is trading higher by 1.69 per cent to Rs 7.84 a day after the telecom company reportedly announced that it would clear about Rs 2,400 crore of dues to the central government by September.

A report on Tuesday said that the company had recently cleared pending dues of licence fees and spectrum usage charges of about Rs 450 crore for the March quarter of 2022-23.

The company was required to pay a licence fee of around Rs 770 crore by July and Rs 1,680 crore as the first instalment for the spectrum it purchased in auctions held last year, as per the report.

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The debt-ridden telecom operator's shares in the last five trading sessions have slid 1.88 per cent while in the last month, there fall has been 1.14 per cent.

Benchmark Nifty 50 index, meanwhile, is down 0.16 in the last trading session and 1.49 per cent down in the last month.