By laksh5382 
Telecom stocks witnessed a sharp rise in morning trade on November 26 amid news of the Union Cabinet approving waiver of bank guarantees for telecom operators. Vodafone Idea shares jumped 14.20% 7.66 per share, while MTNL shares rose almost 9% 51.45 each.
On Monday, the Union Cabinet approved waiver of bank guarantees for telecom operators on spectrum purchased before 2022. moncontrol The news has been given quoting sources.
The move brings relief to Vodafone Idea, which has outstanding dues to the government. Sources told the news agency that there is Rs 24,700 crore in bank guarantees (BG). Indian telecom operators, including Airtel and Vodafone Idea, collectively own more than Rs 30,000 crore in BG liabilities