India, Jan. 9 -- Shares of Vodafone Idea Ltd. and Indus Towers Ltd. surged after the govenrment lifted the AGR overhang on the debt-laden telecom operator.

On Friday, Vodafone Idea's share price rose 8.78% to an intraday high of Rs.12.51 on the BSE while those of Indus Towers gained 5.58% to Rs.441.70, even as the benchmark Sensex traded 0.10% lower.

Vodafone Idea laid out a repayment schedule for its adjusted gross revenue dues, capping annual payments at $13.79 million for the next six years, easing near-term cash flow pressure without reducing headline liabilities.

On 31 December the government had approved a partial moratorium on the telecoms company's dues, freezing $9.76 billion in payments and deferring repayments to the 2030s. ...