Vodafone Idea: Stock Hits 2 Upper Circuits

Vodafone Idea surged 22% as the government’s stake will increase to 48.99% after converting Rs 36,950 crore spectrum dues into equity. This move eases cash flow pressure and could help the company secure fresh bank funding. With promoters retaining operational control, investors see this as a key government-backed lifeline. The stock hitting its upper circuit reflects renewed confidence in the telecom firm’s revival prospects.