Telecom stocks gain as govt waives bank guarantee; Vodafone Idea surges 16%

Shares of telecommunication companies were in focus and rallied up to 16 per cent on the BSE in Tuesday’s intra-day trade following reports that the Union Cabinet has approved a waiver of bank guarantees (BGs) for telecom companies, marking a significant step toward easing the financial burden on the sector. The waiver applies to spectrum acquired by telecom operators in auctions held before 2022.