Vodafone Idea shares up 8%, telco clarifies on Cabinet proposal; here's what analysts say
Today's sharp upmove in VIL shares came after it was reported the Union Cabinet approved a proposal to waive the bank guarantees (BG) that telecom operators were required to provide for spectrum purchases up to 2022.
Vodafone Idea Soars on Cabinet's Landmark Spectrum Decision
Vodafone Idea's shares jumped nearly 8% after reports indicated the Union Cabinet waived bank guarantees for spectrum bought before 2022. This decision alleviates financial strain on telecom operators like Vodafone Idea,
Vodafone Idea shares end 9% higher, issues clarification on bank guarantees
Vodafone Idea said that it is yet to receive any communication from the Department of Telecommunications (DoT) or the government about any decision taken with regards to reports of bank guarantees.
Why Vodafone Idea shares rallied 10% today
Vodafone Idea shares climbed 10 per cent to hit a high of Rs 7.67. Despite this, the stock is down 7 per cent in the past one month.
Vodafone Idea Shares Surge on Spectrum Guarantee Waiver
Vodafone Idea shares jumped nearly 8% after the Indian government waived the requirement for bank guarantees on spectrum purchased before 2022, providing relief to the debt-ridden company.
Vodafone Idea to gain most if bank guarantee waivers for pre-2022 spectrum approved: IIFL’s Balaji Subramanian
In what would come as a big relief for telecom players, sources have said that the union cabinet has approved the proposal to waive bank guarantee requirements. Sources told CNBC-TV18 that this will pave way for telcos to receive bank guarantee waivers for spectrum acquired before 2022.
Vodafone Idea shares surge 18% after Union Cabinet approves bank guarantee waiver
Vodafone Idea's shares surged nearly 18% after the government waived bank guarantees for spectrum dues. This move significantly benefits Vi, which faced a substantial obligation.
Bank guarantee waiver to help Vodafone Idea's debt funding plans, reduce financial burden
Vodafone Idea's plans to raise ₹35,000 crore will likely get a boost after the Union Cabinet decided to waive bank guarantees to be submitted for airwaves bought in auctions till 2022.
Vodafone Idea shares zoom 18% on in-principle Cabinet nod for bank guarantee waiver
Vodafone Idea's shares surged 18% after the Indian government waived bank guarantees for past spectrum purchases. This move significantly benefits Vi, which faced a Rs 24,700 crore bank guarantee burden.
Cabinet Approves Bank Guarantee Waiver For Telcos, Vodafone Idea To Benefit
This decision follows the 2021 Cabinet reforms, which had already removed the BG requirement for spectrum purchased going forward
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