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Vodafone Idea scrips surge 48% as going concerns ease

Feb 19, 2020 14:45 IST

Vodafone Idea shares on Wednesday jumped over 48% to 4.45 on NSE as the going concerns over the company eased slightly on a report that the government is backing a three-private player market and is unlikely to invoke the company's bank guarantees for now. Telco's senior counsel Mukul Rohatgi on Monday warned if the bank guarantees deposited with the government are encashed, Vodafone Idea will have to shut shop. On Tuesday, its Chairman Kumar Mangalam Birla met government officials to look for options to keep the company afloat.