Vodafone Idea Shares Fall More Than 5% as Company Denies Official Confirmation of Major AGR Dues Waiver. Read More!
Vodafone Idea Share Decline Substantially As The Company Comments On The Speculations Regarding Waiver Of AGR Dues
Vodafone Idea mobile subscriber market share declines over the period, but the company’s share price had a big drop in the morning trade on Tuesday, at more than 5%. This decline was also after the company cleared air on the issue that speculated government offered a waiver on AGR dues.
Stock Performance: From the gain on Monday to the dip on Tuesday
India’s Vim is also up by more than 3% after more than tripling its market value this week after news reports that the Indian government could waive AGR dues The share price of Vodafone Idea, which rose by nearly 10% on Monday, closed with gains of over 9%. However the tide turned on Tuesday. The stock opened at Rs 9.94, just slightly lower than the previous closing price of Rs 9.95. But it fell sharply and was down 5.03% early in mid-morning.
What Triggered the Change in Vodafone Idea Ltd’s Stock Price?
The high volatility in price was influenced by news that government may be planning for AGR waiver that stands for around Rs 1 lakh crore for telecom firms. But in a filing to the exchange on January 20 the firm stated that it had not been informed officially of such a waiver.
The statement came in its latest regulatory filing which mentioned, “with reference to the news article appeared in the Mainstream Media on January 18, 2025, titled ‘In Big Relief to Telcos, Govt considers over ₹1 lakh crore AGR dues waiver’, and the consequent material price movement in the Scrip of the Company on January 20, 2025.”
To the extent of the above reported matter, we have not had any communication with the Government. However, as and when there is any such development which needs to be disclosed, this will be resorted to, BSE filing showed.
Vodafone Idea vs. Nifty 50
As of now, numbers of Vodafone Idea are trading at Rs 9.46. Last week, going by the stock, there was an increase in the prices by 12.22 % in the last five days. But if we take a long-term perspective, then the company was observing a negative update with a 6-month down by -40.47% and a 1-year down by -34.31%.
Market capitalization of Idea currently stands at Rs 66.06K crore while that of Vodafone Idea after launch is Rs 66.06K crore. Over the past one year, the stock price has gone to a high of Rs. 19.18 and a low of Rs. 6.61.
The Nifty 50 index, on the other hand, is currently trading at 23,185.75 down by 2.39%. Despite the drop of 5.40% during the last six months, the index has risen 9.17% during the last one year.
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