Vodafone Idea shares jump over 6 pc
Mar 3, 2020, 16:34 IST
New Delhi, Mar 3 () Shares of Vodafone Idea on Tuesday jumped over 6 per cent following reports that the company paid about Rs 3,043 crore to the telecom department towards deferred spectrum dues.
The scrip climbed 6.09 per cent to close at Rs 3.66 on the BSE. During the trade, it zoomed 13 per cent to Rs 3.90.
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On the NSE, it gained 5.79 per cent to close at Rs 3.65.
In terms of traded volume, 4.82 crore shares were traded on the BSE and over 31 crore units were exchanged on the NSE.
Troubled Vodafone Idea on Tuesday paid about Rs 3,043 crore to the telecom department towards deferred spectrum dues, sources said.
Deferred spectrum dues are essentially instalment payments that are made by telcos for airwaves bought in past auctions.
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The move assumes significance as Vodafone Idea Ltd has been under financial pressure and is confronted with AGR (Adjusted Gross Revenue) liabilities of over Rs 53,000 crore.
SUM RUJRUJ(This story has not been edited by www.businessinsider.in and is auto–generated from a syndicated feed we subscribe to.)