Vodafone Idea to MTNL — why are telecom stocks skyrocketing?

Stock Market Today: Telecom stocks saw a sharp uptick in early morning trade on Tuesday, November 26, following reports that the Union Cabinet approved the waiver of bank guarantees for telecom operators. This move is seen as a significant step in easing the sector’s financial burden.

Reacting positively to these developments, shares of Vodafone Idea surged by 15%, reaching ₹8 each, while MTNL shares gained nearly 9%, trading at ₹51.45 each. Bharti Airtel also saw mild gains, with its shares up by 0.30%, trading at ₹1583 apiece.