Why did Vodafone Idea shares skyrocket 15% on Tuesday?

Vodafone Idea (Vi) shares jumped over 15% on Tuesday after reports suggested that the Union Cabinet approved the waiver of bank guarantees for telecom operators. The waiver will apply to the spectrum acquired by telcos in auctions held before 2022. The reported move will benefit Vi the most as it owes the government over ₹24,700 crore in bank guarantee obligations.