Vodafone Idea (Vi) shares jumped 6% after the company expressed confidence in resolving the long-standing adjusted gross revenue (AGR) issue. As of 11:24 AM, the shares were trading 6.56% higher at Rs 8.94.
During the Q3 earnings call, CEO Akshaya Moondra reassured investors that Vi is actively engaged with the government to find a solution.
“The government’s intent is clear—it will provide support if needed. It understands that intervention may be required, and as the biggest stakeholder, we are confident a resolution will emerge,” Moondra stated.
Highlighting the government’s commitment to the telecom sector, Moondra pointed to recent relief measures, including the waiver of bank guarantees for past spectrum purchases. These moves signal strong support for telecom companies facing financial challenges.
Moondra stated that the telco is in constant talks with banks and lenders about further rounds of debt funding. However, he stated that even banks are seeking clarity on the adjusted gross revenue, or AGR, issue.
Vodafone Idea’s stock opened at ₹8.06, reaching a high of ₹8.99 and a low of ₹8.06. The stock’s 52-week high stands at ₹19.18, while the 52-week low is ₹6.61.
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