Vodafone Idea surges as govt unlikely to encash BGs for now

Mumbai: Shares of Vodafone Idea surged more than 45% in the last two trading sessions after government indicated that the company’s bank guarantees are unlikely to be encashed for now. Vodafone Idea has to pay over ₹56,000 crore to the government as adjusted gross revenue (AGRs) dues.

Analysts said the government’s move suggests it could give the debt-laden company more time to repay.

Vodafone Idea stock ended 5% higher at ₹4.40 on Thursday.