Shares of Vodafone Idea rose nearly 2% in early trade on Monday, ahead of a crucial Supreme Court hearing on its adjusted gross revenue (AGR) plea. At 9:07 AM, the stock was trading at Rs 8.95 on the NSE, up 1.47% or Rs 0.13 from the previous close.
According to the Supreme Court’s website, a bench headed by Chief Justice of India B.R. Gavai has listed Vodafone Idea’s fresh plea for hearing today, as the court reconvenes after the Dussehra break. The apex court had earlier deferred the hearing on September 26 after Solicitor General Tushar Mehta, representing the Centre, sought time to prepare his submissions.
Investors are closely watching the outcome of the case as it holds significant implications for the telecom operator’s financial future. The company has been seeking relief in payment timelines and reassessment of its AGR-related dues, which have long weighed on its balance sheet.
In the past six weeks, Vodafone Idea’s stock has surged nearly 44%, reflecting optimism around a favourable outcome in the pending AGR matter. The company has also been in focus for its ongoing efforts to raise funds and expand its 4G and 5G networks to regain market competitiveness.
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