The shares of Vodafone Idea (Vi) jumped nearly 7.5 percent to day's high on August 25, extending significant gains for the second consecutive session after a report by Mint said that the Prime Minister's Office (PMO) is set to take a call on a relief proposal for the telecom major.

The shares of the company gained 16 percent in the two consecutive trading sessions to hit an intraday high of Rs 7.60 apiece on Monday. The stock later pared some gains to close at Rs 7.40 apiece, marking a rise of nearly 5 percent from the previous closing price.

PMO had received an informal note from the Department of Telecommunication (DoT), proposing multiple relief options for the debt-ridden telecom company, Mint reported last week citing people familiar with the matter. These options include another two-year pause on paying the statutory dues under moratorium currently. The PMO will take the decision on whether these relief measures are to be extended, said the Mint report cited a source as saying.

DoT has also proposed to give Vodafone Idea more time to repay dues, smaller annual payouts, and a waiver on penalties and interest penalties on AGR payment, the report added.