New Delhi: Shares of Vodafone Idea dropped by 15 per cent on Thursday following a Supreme Court ruling that upheld the Adjusted Gross Revenue (AGR) demand against telecom companies, including Vodafone Idea. The court confirmed the quantum of the AGR dues, which for Vodafone Idea currently totals Rs 70,300 crore.
The Supreme Court reviewed the curative petitions and related documents but found no errors in the AGR calculation. As a result, the court rejected the telecom companies’ claims and dismissed the petitions. The companies had argued that there were mistakes in how their AGR dues were calculated.
Many experts believe that if the court had granted relief, Vodafone Idea’s share price could have seen an increase of Rs 5 per share. However, with the court’s unfavorable verdict, the company’s cash flow situation is expected to become more challenging.
New Delhi: Shares of Vodafone Idea dropped by 15 per cent on Thursday following a Supreme Court ruling that upheld the Adjusted Gross Revenue (AGR) demand against telecom companies, including Vodafone Idea. The court confirmed the quantum of the AGR dues, which for Vodafone Idea currently totals Rs 70,300 crore.
The Supreme Court reviewed the curative petitions and related documents but found no errors in the AGR calculation. As a result, the court rejected the telecom companies’ claims and dismissed the petitions. The companies had argued that there were mistakes in how their AGR dues were calculated.
Many experts believe that if the court had granted relief, Vodafone Idea’s share price could have seen an increase of Rs 5 per share. However, with the court’s unfavorable verdict, the company’s cash flow situation is expected to become more challenging.
