Vodafone Idea, which is yet to roll out 5G services, no longer needs to submit these bank guarantees and the Centre’s decision now opens the space for lenders to extend much-needed credit to the struggling telco. It urgently needs funding to ramp up 4G coverage and roll out 5G soon to catch up with bigger rivals Jio and Airtel.
Sensex, Nifty rally over 1% as IT stocks drive broad-based market gains
Indian stock gauges rose over one percent on Wednesday. Overseas fund flows are expected to shift into local technology companies. The Nifty and Sensex closed