Amazon, Verizon may invest over $4 billion in Vodafone Idea, stock up 13%

Nitin Soni of Fitch Ratings said that the SC's verdict could gradually lead to a "collapse of Vodafone Idea" and hasten the telecom market's move towards a "duopoly". "For 10 years, they will have to make a payment of $700-800 million a year. Their EBITDA is insufficient to pay

The debt-laden company had previously said its ability to continue as a going concern rested on a positive outcome of the hearing. It has paid the Indian government Rs 7,850 crore ($1.1 billion) in telecoms dues, according to regulatory filings, but still owes roughly Rs 50,000 crore ($6.8 billion) more.

The stock rose as much as 13.5 percent to day's high of Rs 11.25 on BSE. In 2 sessions, it has jumped 27 percent.

The stock added 12 percent in the previous session after the company announced that its board will meet on Friday to consider fund-raising plans. The company's board will meet to consider fund-raising in one or more tranches by way of a public issue, preferential allotment, private placement, including a qualified institutions placement (QIP) and/or through other ways, it said in a BSE filing.