Vodafone Idea share price surged as much as 48 percent intraday on February 19 after company’s Chairman Kumar Mangalam Birla met Telecom Secretary Anshu Prakash on Tuesday.
On February 14, Department of Telecommunications (DoT) ordered Bharti Airtel and Vodafone Idea to clear their AGR dues before midnight.
Vodafone Idea on February 17 authorised an immediate payment of Rs 2,500 crore to the DoT as a part payment of dues and said I would pay another Rs 1,000 crore before the end of the week.
Care Ratings has downgraded the ratings of Vodafone Idea’s long-term bank facilities and non-convertible debentures.
Also, India Ratings and Research (Ind-Ra), has downgraded its rating to IND B/RWN of the non-convertible debentures of Rs 3,500 crore of Vodafone Mobile Services.
At 15:10 hrs, Vodafone Idea Limited was quoting at Rs 4.17, up Rs 1.14, or 37.62 percent on the BSE.
courtsey By – https://www.moneycontrol.com/news/buzzing-stocks/vodafone-idea-share-price-surges-39-after-co-chairman-meets-telecom-secretary_13511521.html