Vodafone Idea shares rally over 50% in two days; here’s why

Shares of Vodafone Idea extended their rally to the second straight session on Thursday after ET on Wednesday reported that the government is unlikely to invoke the company’s bank guarantees for now even as the officials of the telecom and finance ministries met Cabinet secretary Rajiv Gauba to discuss ways to ensure that the sector retains three private players.

After rallying over 38 per cent on Wednesday, the scrip climbed another 12 per cent to Rs 4.71 in morning trade today. Overall, the scrip has rallied more than 50 per cent over two days against the close of Rs 3.03 on Tuesday.