Vodafone Idea shares jump 15% ahead of Supreme Court hearing on modification pleas for AGR dues
Vodafone Idea shares surged as much as 15 per cent to Rs 5.15 apiece on BSE ahead of AGR hearing today. The modification pleas filed by the telcos have sought more time for adjusted gross revenue (AGR) related dues payment. Vodafone Idea faces statutory dues of Rs 53,039 crore while Bharti Airtel has to pay Rs 35,586 crore. However, Airtel has already $3billion through a combination of the private placement of shares and an overseas sale of convertible bonds. Vodafone Idea had posted the largest loss of India Inc at Rs 50,897.9 crore in the second quarter of the financial year 2019-20.