Vodafone Idea's stellar show at bourses may pause. Here's why
Updated : November 25, 2019 06:37 AM IST
Vodafone Idea's share price nearly doubled during the past week in expectation of a government relief package for the struggling telecom sector.
Despite a relief by the government in the form of a two-year moratorium on spectrum-related dues which is tantamount to Rs 42,000 crore financial support to the stressed sector, Crisil on Friday (after market hours), downgraded Vodafone Idea's rating on non-convertible debentures of Rs 3,500 crore.
Vodafone Idea's share price had almost doubled and closed at Rs 6.55 apiece on Friday.
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