After opening Tuesday almost unchanged, Vodafone Idea’s share price fell more than 4% during morning trading. After market hours on Monday, the business released an explanation about the “AGR dues waiver.”
After opening almost unchanged, Vodafone Idea’s share price fell more than 4% during Tuesday’s morning trading. After market hours on Monday, the business released an explanation about the waiver of AGR dues.
“We have not received any communication from the government about the above-reported matter,” Vodafone Idea stated in its explanation of the exchanges.
After news sources indicated that the government was considering waiving AGR dues for telecom companies, the price of Vodafone Idea shares saw significant increases of up to 10% on Monday before closing 9% higher. AGR is the amount of money telecom carriers make from their core offerings.
According to a Trai study, rate increases drove telecom operators’ gross income to ₹91,426 crore in the July–September 2024 quarter, a 10.5% year-over-year gain. Levies are determined by the government using adjusted gross income, which increased 13.11 percent to ₹75,310 crore. Vodafone Idea’s AGR climbed 4.39 percent, from ₹7,507.65 crore to ₹7,836.98 crore.
Clarification by Vodafone Idea:
The news article “Vodafone Idea, Airtel shares in focus as govt plans AGR dues waiver” was the subject of a January 20, 2025, exchange request for clarification by Vodafone Idea.
On January 20, after market hours, Vodafone Idea released an explanation regarding the news story titled “In Big Relief to Telcos, Govt weighs over ₹1 lakh crore AGR dues waiver,” which was published in Mainstream Media on January 18, 2025, and the resulting significant price movement in the company’s shares.
“We have not received any communication from the Government about the above-reported matter,” Vodafone Idea stated in its announcement. We shall take the necessary action when a development that calls for disclosure arises.
Tuesday’s opening price of ₹9.94 for Vodafone Idea shares on the BSE was nearly unchanged from Monday’s closing price of ₹9.95. However, the cost of Vodafone Idea’s shares fell even lower, hitting intraday lows of ₹9.51, representing a drop of almost 4%.
