Vodafone Idea's stock rose nearly 2% on August 27 after the government confirmed that there are no immediate plans to divest its stake in the telecom firm. Following the announcement, the share price peaked at Rs 16.18 on the NSE.
The government is also considering a waiver of bank guarantees on Vodafone Idea's upcoming regulatory dues of Rs 24,747 crore. A senior telecom ministry official stated that the company has yet to provide substantial updates on its operations following recent fundraising efforts, and its turnaround strategy remains in early stages.