Vodafone Idea Share Price Falls 6.94% as Supreme Court’s AGR Order Creates Uncertainty

Mumbai, October 30: Vodafone Idea’s share price is trading in the red today, after the Supreme Court’s order on the company’s adjusted gross revenue (AGR) dues. As of 1:05 PM, Vodafone Idea’s stock price was down by 6.94%, or 0.65 points, and was trading at ₹8.71. Until now, the shares have traded within a range of ₹9.26 and ₹8.21. The traded volume stood at 204.07 crore shares, with the company’s market cap at ₹1,01,409 crore. The shares of Vodafone Idea have their 52-week high at ₹10.57 and their 52-week low at ₹6.12.

Supreme Court Order Creates Uncertainty and Confusion

The fall in the share price comes after the Supreme Court provided a written clarification on its October 27 order. The Supreme Court issued a new document today, which clarified that the AGR dues relief applies to the additional AGR demand of ₹9,450 crore. This means that the government will not be able to provide relief to the company for the rest of the AGR dues it owes to the government. This comes after the Supreme Court’s oral October 27 order, which had earlier allowed the Centre to reconsider Vodafone Idea’s AGR dues.

This is negative news for Vodafone Idea as it has a total of ₹83,400 crore in AGR dues. The Supreme Court’s clarification that the relief is only for the AGR dues of ₹9,450 crore means that the company still owes a significant amount in AGR dues to the Indian government. This has reduced investor demand, leading to a selloff and fall in the Vodafone Idea share price.

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