Shares of Vodafone Idea rose over 9 per cent on Monday after India’s top court allowed the government to reconsider the adjusted gross revenue (AGR) issue, which could potentially be a relief for the telecom company.
The telecom major’s stock rose as much as 9.3 per cent during the day to a 52-week high of ₹10.52 per share, the biggest intraday rise since October 7 this year. The Vodafone Idea stock pared gains to trade 8.5 per cent higher at ₹10.4 apiece, compared to a 0.65 per cent advance in Nifty 50 as of 11:53 AM.
Shares of the company rose for the fifth straight session and currently trade at 2.8 times the average 30-day trading volume, according to Bloomberg. The counter has risen 31 per cent this year, compared to a 6.8 per cent advance in the benchmark Nifty 50. Vodafone Idea has a total market capitalisation of ₹1.13 trillion.
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SC allows government to reconsider Vi dues
The Solicitor General of India told the court that the government is willing to examine the concerns in the interest of the 200 million consumers using the service, Bloomberg reported.
This decision comes after the Supreme Court deferred the hearing of a plea filed by the telecom major multiple times, which challenged a demand of ₹9,450 crore raised by the Department of Telecommunications (DoT). On September 19, it informed the stock exchanges that the company had challenged additional AGR demands raised by the DoT before the Supreme Court.
Earlier, Bloomberg reported that the government is considering a one-time settlement of its longstanding demand for billions of dollars in past-due fees from Vodafone Group Plc’s beleaguered local venture, as the government seeks to strengthen ties with the UK.
Vodafone Idea Q1 results recap
The telecom major reported a consolidated loss after tax of ₹6,608 crore in Q1FY26, up from ₹6,432 crore a year earlier. However, on a sequential basis, loss narrowed from ₹7,166.1 crore in Q4FY25. Its revenue from operations, however, grew 4.9 per cent year-on-year to ₹11,022.5 crore in Q1FY26 from ₹10,508.3 crore in Q1FY25. Sequentially, revenue increased slightly from ₹10,948.3 crore in Q4FY25.
