Vodafone Idea Shares Rise After Supreme Court Ruling
Vodafone Idea shares jumped 9% after the Supreme Court allowed the government to reconsider AGR dues.
The company's share price surged nearly 10% in intraday trade following the court's decision to review the issue of reassessing Vodafone Idea's adjusted gross revenue (AGR) dues.
The Supreme Court observed that the AGR matter falls within the Centre's policy domain, giving the government the freedom to relook into Vodafone Idea's request for reassessment.
This development may lead to a possible reduction in dues for the debt-ridden telecom operator, which has been struggling under the burden of massive AGR liabilities for years.
Author's summary: Vodafone Idea shares rise after court ruling on AGR dues.