Impact Of Supreme Court's Verdict On AGR Dues: Vodafone Idea Cracks 15% In Trade, Hits Lower Circuit

Описание к видео Impact Of Supreme Court's Verdict On AGR Dues: Vodafone Idea Cracks 15% In Trade, Hits Lower Circuit

Shares of most telecommunication companies declined on Thursday with Vodafone Idea Ltd. and Indus Towers Ltd. falling the most after the Supreme Court rejected their plea seeking re-computation of average gross revenue or AGR by the Department of Telecommunication. "Supreme court verdict is a key setback for Vodafone's revival process. Fair value basis sees setback of Rs 5 per share. Vodafone was going to get a significant relief in annual payments from a positive verdict," said Ajai Puri, former Chief Operating Officer of Bharti Airtel Ltd. Vodafone Idea's AGR liability stood at Rs 70,300 crore as of June 2024, which makes up 33% of its gross debt. Re-computation of the dues would have cut down AGR by Rs 30,000–35,000 crore.

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