Vodafone Idea ends in red, Airtel up amid telcos’ financial bailout buzz

NEW DELHI: In a highly volatile trade, shares of Vodafone Idea on Wednesday settled in the red after soaring 8.5 per cent in early deals amid reports that a government panel is being formed to work out a bailout package for the telecom sector.

Vodafone Idea stock closed at Rs 3.81 apiece, 1.04 per cent lower on the BSE. Intra-day, its shares zoomed 8.57 per cent to Rs 4.18 a unit. Buoyed by the reports, Bharti Airtel too saw its stock rise 2.31 per cent to close at Rs 368.25 apiece.

Its shares fell over 3 per cent on Tuesday after the company deferred the September quarter result announcement till November 14, due to the adjusted gross revenue (AGR) issue.