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 apex 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 opens the door for a possible reduction in dues for the debt-ridden telecom operator, which has been struggling under the burden of massive AGR liabilities for years.
The court made it clear that there is "no impediment" to the Union government taking an appropriate decision in the case.
Author's summary: Vodafone Idea shares rise after court ruling.
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