Vodafone Idea stock dips over 4% after clarification on AGR dues waiver

The banal opened astir level astatine Rs 9.94 connected the BSE, compared to its erstwhile adjacent of Rs 9.95 connected Monday. However, it dipped to an intraday debased of Rs 9.51, translating into a autumn of implicit 4 per cent. This comes aft the banal surged up to 10 per cent connected Monday amid reports suggesting a imaginable AGR dues waiver by the government.

Company clarification connected AGR dues

On January 20, post-market hours, Vodafone Idea issued a clarification successful effect to media reports astir a imaginable authorities waiver of adjusted gross gross (AGR) dues. The institution stated, “We person not received immoderate connection from the authorities successful narration to the above-reported matter. As and erstwhile determination is immoderate improvement requiring disclosure, we volition bash the needful.”

The speech had sought clarification from the institution regarding the media reports that triggered crisp terms movements connected Monday, January 20.

AGR gross and manufacture growth

Adjusted gross gross (AGR) represents the gross telecom operators gain from halfway services, which is utilized by the authorities to cipher levies. According to a TRAI report, telecom operators’ gross gross roseate 10.5 per cent year-on-year to Rs 91,426 crore during the July–September 2024 quarter, supported by tariff hikes. Vodafone Idea's AGR during this play accrued by 4.39 per cent, from Rs 7,507.65 crore to Rs 7,836.98 crore.

Market outlook

Despite Monday's crisp rally fueled by speculation, Tuesday's diminution indicates cautious capitalist sentiment amid the deficiency of confirmation from the authorities regarding AGR dues relief. Analysts suggest that Vodafone Idea's fiscal struggles and reliance connected authorities enactment whitethorn support its banal highly delicate to regulatory developments.

Investors volition intimately ticker for updates connected the AGR dues waiver and its implications for Vodafone Idea’s semipermanent fiscal health.