A hotel employee clears a table after Vodafone Group and Idea Cellular news conference in Mumbai, India March 20, 2017. REUTERS/Danish Siddiqui/File Photosurged nearly 20% and banks with exposure to the telecom firm jumped on Thursday, a day after India's federal cabinet approved a relief package for the troubled sector.
"For long-term sustainability, Vodafone Idea will require not only capital infusion, but a sizeable tariff hike for 4G pre-paid customers. In the absence of this, the industry can slip towards a duopoly," said Pranav Kshatriya, vice president of institutional equities at Edelweiss Securities.
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