Vodafone Idea shares jump 9% as Supreme Court allows centre to reconsider AGR case
Vodafone Idea shares surged 9% after the Supreme Court allowed the Centre to reconsider its AGR dues case, calling the matter part of policy and crucial for 20 crore users.
Shares of Vodafone Idea surged nearly 9% on Monday after the Supreme Court allowed the Centre to reconsider the company’s plea in the long-running Adjusted Gross Revenue (AGR) case, News.Az reports, citing foreign media.
The apex court bench, led by Chief Justice B.R. Gavai and Justices K. Vinod Chandran and Vipul M. Pancholi, said there was “no reason why the Centre should be prevented from reconsidering the issue,” calling it a policy matter.
At 11:48 a.m., Vodafone Idea’s stock was trading at ₹10.47 apiece on the NSE, up about 9%, following the announcement.
The court noted that its order was passed “in the peculiar facts and circumstances, in the interest of 20 crore users.”
The AGR refers to the income metric used to calculate telecom operators’ licence fees and spectrum charges payable to the government — a long-standing financial burden that has strained several Indian telcos.
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