Bharti Airtel, Vodafone Idea Share Prices Jump 10-34% On Talk Of Relief Package

Bharti Airtel and Vodafone Idea share prices rose 10-34 percent intraday on March 13 after media reports said the government may come out with a relief package for the telecom sector.

The cabinet is likely to have discussed telecom issues and clear some relief measures for the sector, CNBC-TV18 quoted sources as saying.

Telecom stocks have remained under pressure after the department of telecom asked companies to pay the adjusted gross revenue (AGR) dues at the earliest.

On March 4, the government, citing a Supreme Court order, asked Bharti Airtel, Vodafone Idea and other telcos to pay the remaining amount without a delay.

As per reports, the government has received about Rs 26,000 crore in AGR payments so far.

At 1124 hours, Bharti Airtel was quoting at Rs 484.85, up Rs 19.90, or 4.28 percent, and Vodafone Idea Limited was quoting at Rs 5.41, up Rs 1.21, or 28.81 percent on the BSE.

―Money Control