Why the BSE Telecom index jumped 5% today

NEW DELHI: Shares of Vodafone Idea Ltd (VIL) and Bharti Infratel surged on Friday on completion of the Bharti Infratel and Indus Towers merger deal.

The scrip of debt-ridden VIL jumped over 8 per cent while that of Bharti Infratel soared 19 per cent.

A day after the announcement about completion of the deal, Bharti Infratel skyrocketed 19.26 per cent to Rs 221.70, after touching an intra-day high of Rs 223.05 on the NSE.