Vodafone Idea Shares Dip 2% After Supreme Court Defers AGR Plea to October 27

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Idea Ltd (VIL) declined by 2% on Monday following the Supreme Court's decision to postpone the hearing of the telecom operator's plea against an additional Adjusted Gross Revenue (AGR) demand from the government. At around 11:45 am, VIL's stock was trading at Rs 8.87 per share on the National Stock Exchange (NSE), reflecting the market's reaction to the deferral until October 27. The plea in question challenges a fresh Rs 5,606 crore demand issued by the Department of Telecommunications (DoT) for the financial year 2016–17. This comes amid ongoing disputes over AGR dues that have plagued the telecom sector. Earlier, the Centre indicated in court that discussions were underway to resolve the issue with VIL. Last month, the government had informed the apex court that a potential solution might be necessary to address the company's petition, signaling possible relief for the debt-laden telco. The development underscores the persistent financial pressures on VIL, which has been grappling with massive AGR liabilities since the Supreme Court's 2019 ruling. Investors remain watchful as the October 27 hearing approaches, hoping for clarity on the outstanding dues.