Vodafone Idea Shares Rise After Supreme Court Decision
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 after the Supreme Court permitted the Central government to reassess the company's adjusted gross revenue (AGR) dues.
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 Vodafone Idea, providing a key breather for the debt-ridden telecom operator.
Author's summary: Vodafone Idea shares rise after Supreme Court decision on AGR dues.