MUMBAI -- Shares of beleaguered Vodafone Idea, India's third-largest telecom, surged Friday as investors welcomed New Delhi's plan to scrap a retrospective tax law, a move that likely would benefit the British parent.
Vodafone Idea shares closed at 7.10 rupees, up 19%, on Friday on the Bombay Stock Exchange, extending gains from late Thursday. The stock has recovered from a 24% fall after the company's board said this week it accepted the resignation of Chairman Kumar Mangalam Birla.
