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Telecom stocks such as Vodafone Idea, Indus Towers and MTNL surged in early trade on Tuesday, following reports citing that the Union Cabinet approved waiver of bank guarantees for telecom operators on spectrum purchased before 2022.
Vodafone Idea shares zoomed nearly 19 per cent from previous close to trade at ₹8.28 on the NSE.
MTNL shares gained nearly 8.88 per cent to hit the day’s high at ₹51.45.
Tata Teleservices stock surged 8.86 per cent as at 10.26 am, trading at ₹75.20 on the BSE.
Indus Towers stock soared 5 per cent to hit day’s high at ₹355.85.
Bharti Airtel stock traded flat on the NSE at ₹1,574.85, and Jio Financial Services also traded flat at ₹322.50 as at 10.29 am.
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