Vodafone Idea climbs 15% as promoters likely to infuse $1.5 billion

Shares of Vodafone IdeaNSE -30.93 % (VIL) advanced nearly 15 per cent in Wednesday’s early trade after reports that promoters of the company-UK’s Vodafone Group Plc and Aditya Birla Group-may infuse around $1.5 billion (about Rs 11,060 crore) into the telco if the government cuts the carrier’s adjusted gross revenue (AGR) dues based on self-assessment, and also allows repayment over several years.

The scrip jumped 14.85 per cent to Rs 5.57, while the benchmark BSE Sensex was up 180 points, or 0.59 per cent, at 30,759.