Vodafone Idea shares rally 27% after record ₹50,922 crore loss

Shares of Vodafone Idea surged 27% on Friday, a day after the telecom operator posted India's biggest quarterly loss of ₹50,922 crore. "Given the stress on the sector, it gives the government additional ability to act in the interest of the overall economy," Vodafone Idea CEO Ravinder Takkar said. Rival Airtel's shares surged over 9% following its ₹23,045 quarterly loss.