Vodafone Idea surges 10% ahead of arbitration appeal deadline

According to a report Finance Minister Nirmala Sitharaman had, last week, discussed the matter extensively with senior bureaucrats, including secretary level officials and heads of concerned tax dept

Shares of telecom operator Vodafone Idea surged over 12 per cent to Rs 10.68 on the BSE in intra-day trade on Wednesday as the government remained uncertain on appealing against an arbitration award relating to retrospective tax demand against the company's British promoter Vodafone Plc. 

The deadline for appeal ends today.

At around 3.02 pm, the stock was trading 9.98 per cent higher at Rs 10.47, as against a 0.82-per cent rise in the BSE benchmark Sensex. In the past one month, the stock has added 1.92 per cent in comparison to a 5.11-per cent gain in Sensex.

On September