Vodafone Idea Shares Surge 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 Supreme Court observed that the AGR matter falls within the Centre's policy domain, giving the government the freedom to relook into Vodafone Idea's request for reassessment.
The court's decision is seen as a key breather for the debt-ridden telecom operator, which has been struggling under the burden of massive AGR liabilities for years.
This development opens the door for a possible reduction in dues for Vodafone Idea.
Author's summary: Vodafone Idea shares rise after court ruling.
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