Vodafone Idea shares are in focus as the company has filed a fresh plea with the Supreme Court of India seeking further relief on adjusted gross revenue (AGR) dues. As per CNBCTV18 report, the company has requested a waiver of over ₹30,000 crore, specifically on account of penalties and interest levied as part of the AGR liability.
In its submission, Vodafone Idea argued that the government is currently constrained in offering relief due to the finality of the Supreme Court’s earlier judgment on AGR-related dues. The telecom operator highlighted that the Government of India is now a stakeholder in the company, having acquired a 49% equity stake by converting past dues related to spectrum and AGR into shares.
The company has urged the Supreme Court to allow an urgent hearing on its application, scheduled for May 19.
Vodafone Idea shares opened at ₹7.01 today, reaching a high of ₹7.25 and a low of ₹6.99 during trading. The stock remains close to its 52-week low of ₹6.47, significantly down from its 52-week high of ₹19.18.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
