Vodafone Idea shares drop 11% after Supreme Court rejects company's plea for waiver of AGR dues
By Aman Shukla Published on May 19, 2025, 13:48 IST
Vodafone Idea shares tumbled over 11% after the Supreme Court dismissed the telecom company's writ petition seeking urgent relief on its Adjusted Gross Revenue (AGR) dues, as reported by cnbctv18. The court labeled the plea as 'shocking' and 'misconceived.'
Vodafone Idea had approached the apex court last week, requesting a hearing to seek relief on AGR-related dues totaling up to ₹30,000 crore, largely comprising penalties and interest. The company warned that without further government support, the entire telecom sector could be at risk of collapse.
This development adds pressure on Vodafone Idea, which is already struggling with heavy debt and intense market competition. In a strategic move last year, the government converted a portion of the company's dues into equity, acquiring a 49% stake to stabilize operations.
Vodafone Idea shares opened at ₹7.19 and hit a high of ₹7.21 before dipping to a low of ₹6.48 today, just above the 52-week low of ₹6.47. This sharp drop contrasts sharply with its 52-week high of ₹19.18, highlighting ongoing volatility. As of 1:47 PM, the shares were trading 8.96% lower at Rs 6.71.
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.
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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