Today's sharp upmove in VIL shares came after it was reported the Union Cabinet approved a proposal to waive the bank guarantees (BG) that telecom operators were required to provide for spectrum purchases up to 2022.

Vodafone Idea's shares jumped nearly 8% after reports indicated the Union Cabinet waived bank guarantees for spectrum bought before 2022. This decision alleviates financial strain on telecom operators like Vodafone Idea,

Vodafone Idea shares climbed 10 per cent to hit a high of Rs 7.67. Despite this, the stock is down 7 per cent in the past one month.

Vodafone Idea's shares surged 18% after the Indian government waived bank guarantees for past spectrum purchases. This move significantly benefits Vi, which faced a Rs 24,700 crore bank guarantee burden.

This decision follows the 2021 Cabinet reforms, which had already removed the BG requirement for spectrum purchased going forward