Vodafone Idea Shares Rise 14% After Supreme Court AGR Order

Shares of Vodafone Idea rose up to 14% on Monday, November 3, after the Supreme Court issued a key clarification on AGR dues.

This is the company’s biggest single-day gain since April 2024.

Court Allows Government to Consider Relief

The Supreme Court said that Vodafone Idea had asked for relief on both additional AGR dues and a recheck of all pending dues.

The court clarified that the government can consider relief for both types of dues.

Earlier Confusion Cleared

During an earlier hearing on October 27, there was confusion about whether the court order applied only to additional dues of ₹9,500 crore or to total dues of nearly ₹80,000 crore.

The court noted that, since the Centre owns a stake in Vodafone Idea and 20 crore users depend on it, the government can review the issue.

Stock Market Reaction

After the clarification, Vodafone Idea shares traded 13.1% higher at ₹9.87.

Bharti Airtel shares also rose 1%, and Bharti Hexacom recovered from earlier losses.

Indus Towers, which could benefit if relief is given to Vodafone Idea, saw its shares jump 5%