Vodafone Idea Shares Jump After Supreme Court Ruling
Vodafone Idea shares surged nearly 10% in intraday trade after the Supreme Court allowed the government to reconsider the company's adjusted gross revenue (AGR) dues.
The Supreme 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.
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 made it clear that there is "no impediment" to the Union government taking an appropriate decision in the case, potentially opening the door for a possible reduction in dues.
Vodafone Idea trades 1% higher after trimming gains.
Author's summary: Vodafone Idea shares rise after Supreme Court ruling.
More News
- Sweden’s still ahead in the preparedness game — and now it means business
- Landmark New Report Shows Canadian Lobbyists Represent Major Polluters Alongside Environmental Groups
- First Duel Night Abyss Figure Is Based on Psyche
- Exploring the Flawlessness of Nature - Blood: River of Red Gold
- World News in Brief: Funding cuts curb development, human rights in Belarus update, Ebola and mpox in Africa
- Johnson’s “Protecting Chicago” budget proposes nearly $500M in tax hikes
- Importing beef is not the solution | GABEL
- Thunderstorms with damaging winds and penny-sized hail in Central West Florida Monday – wind gusts up to 60 mph
- SJHN Daily: Celebrini Named NHL First Star of the Week
- Be ready for pea-sized hail with thunderstorms in Central West Florida Monday – gusts may reach 40 mph