Vodafone Idea, Airtel shares jump up to 8.5% amid financial bailout buzz

New Delhi: Shares of Vodafone Idea and Bharti Airtel jumped up to 8.5 per cent on Wednesday amid reports the government has constituted a panel to work out a bailout package for the telecom sector.

As the telecom sector stares at a massive payout following a Supreme Court order, the government has created a Committee of Secretaries to work out a financial bailout package that may include lowering of spectrum charges as well as ending the era of free mobile phone calls and dirt cheap data.

Shares of Vodafone Idea zoomed 8.57 per cent to Rs 4.18 on the BSE.

Likewise, Bharti Airtel also gained 3 per cent to Rs 370.80.