Vodafone idea share price
There was a lot of earthquake in the stock market on the last trading day of the week. The main index of the market was broken by more than 800 points at the time of trading. Meanwhile, the impact of the decision to postpone the hearing in the AGR case by the Supreme Court was seen on the shares of Vodafone Idea. Vodafone Idea shares fell by about 9% on Friday. After the government requested for time, Vodafone Idea shares fell by 8.98% to Rs 7.90 per share on BSE.
During the proceedings of the case, Solicitor General Tushar Mehta, appearing on behalf of the Department of Telecommunications (DOT), sought additional time to respond to the petition of the telecom operator. According to reports, Vodafone Idea has not opposed this request.
What is the matter?
This case is related to the demand for AGR dues of Rs 9,450 crore from the telecom company by the Department of Telecommunications. Vodafone Idea has filed a petition in the Supreme Court to dismiss this demand, arguing that it is out of the scope of the court’s decision on AGR liabilities.
Last week, the Center informed the Supreme Court that it does not oppose the petition of Vodafone Idea. But insisted that the solution is necessary. Especially because the government itself has a lot of stake in the company. After converting the company’s interest responsibilities into equity, the government became the largest shareholder in Vodafone Idea, which has a 49% stake. However, it is not classified as a promoter. During the last week’s hearing, the Supreme Court emphasized the need for the final decision in the case and the case was to be heard today i.e. on Friday, September 26. But now the court has fixed the next hearing for Malne on 6 October.
Vodafone Idea share price
The price of Vodafone Idea has increased by 21% a month and 12% in three months. This penny stock has increased by 15% in six months, but it has been almost stable on a year-on-year basis. The share of Vodafone Idea has fallen by 22% in a year and 33% in two years. This telecom stock has fallen by 90% in ten years. At 11:55 am, the share price of Vodafone Idea was trading at Rs 6.13 per share on BSE at Rs 8.13 per share. At the same time, around 2.40 pm, the stock of the company fell to 7.90.