Vodafone Idea share price jumps 2% to fresh 52-week high. Here’s why

Shares of beleaguered telecom company Vodafone Idea jumped over 2% in early trade on Wednesday, December 31, amid media reports that the Union Cabinet could consider the Adjusted Gross Revenue (AGR) matter today.

According to a report by The Times of India, the Union Cabinet plans to take up the matter of Vodafone Idea’s bailout plan in today’s meeting as it looks to ease the financial challenges that the company faces. The Cabinet is likely to give relief on interest and penalty levied on the company for its AGR dues, the report added.