Vodafone Idea Shares Rise After Supreme Court Ruling
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 following the court's decision to permit 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.
The Supreme Court observed that there is no impediment
to the Union government taking an appropriate decision in the case.
Author's Summary
Vodafone Idea shares rise 9% after Supreme Court ruling on AGR dues.
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