Vodafone Idea is having a volatile run today. The stock opened with a loss of over 8% at Rs.3.86, going down to an intraday low at Rs.3.78, slipping down 10%. After that it bounced back and rose to an intraday high at Rs.5.80, rising over 38%.
The stock bounced back on reports coming in that at the ongoing Cabinet meeting, it has likely approved a bailout plan for the stressed telecom industry, w.r.t their pending AGR dues.
It is understood that the Finance Ministry , along with the telecom ministry and NITI Aayog has worked out a bailout package.
The Finance Minister is scheduled to address the Press at 3 PM today and we will get more clarity on this by afternoon.