Vodafone Idea Share Price Jumps 6% as Supreme Court Lists AGR Plea Against DoT

Market Performance

Vodafone Idea share price surged nearly 6% in early trade today, catching the attention of market participants. The sudden rally came after reports confirmed that the company’s plea against the Department of Telecom’s (DoT) Adjusted Gross Revenue (AGR) demand has been tentatively listed for hearing on September 19 in the Supreme Court.

Over the past month, Vodafone Idea shares have gained around 25%, while year-to-date performance remains largely flat. The latest update has once again put the stock in focus for traders tracking the stock market today.

Main News

The trigger behind today’s move was the confirmation that Vodafone Idea has approached the Supreme Court challenging the DoT’s additional AGR demand of ₹9,450 crore.

• Out of this, ₹2,774 crore relates to the post-merger entity (Vodafone Idea and Idea Group).
• The remaining ₹5,675 crore pertains to the pre-merger Vodafone Group liabilities.

The company has argued that the demand goes beyond the scope of the Supreme Court’s earlier ruling on AGR liabilities. Vodafone Idea maintains that certain amounts have been counted twice, and a recalculation is necessary, especially for dues prior to FY17.

Company Details

The DoT, on its part, has justified the fresh claim. According to filings, the department sees the amount as a completion of financial accounts, not a reassessment. An affidavit has already been submitted to the apex court, stating that this was due to accounting gaps that were not part of the 2019 judgment.

Meanwhile, Vodafone Idea has been actively engaging with lenders and the government. CEO Akshaya Moondra recently said that banks are awaiting clarity on the AGR matter before moving ahead with fresh funding. The telecom major is also looking at non-banking funding sources to continue its capital expenditure plans.

In recent years, the government has stepped in multiple times to support the company, including:

• 2019: Spectrum installment deferment
• 2021: Telecom reforms package
• 2023: Conversion of government dues to equity
• 2025: Another equity conversion of dues

This history of interventions has kept investor sentiment alive, though the AGR issue remains a critical overhang.

Summary

Vodafone Idea’s AGR dues case against DoT is now set for a crucial hearing on September 19, a development that has pushed the stock higher by 6% in today’s trade. With the company contesting an additional demand of ₹9,450 crore, investors will be closely watching the court proceedings.

While the stock has delivered a 25% gain in one month, its year-to-date performance shows limited movement, underlining the uncertainty around pending liabilities. For now, the AGR hearing date has become the key trigger shaping sentiment around the Vodafone Idea share price in the stock market today.