Vodafone Idea shares surged 15% today, reaching an intraday high of ₹10.47 on the NSE. The rally followed reports suggesting that the government may consider waiving 50% of the interest and 100% of penalties, along with their associated interest, on adjusted gross revenue (AGR) dues. This potential move could provide significant financial relief to telecom companies like Vodafone Idea and Bharti Airtel. The stock ultimately closed 9% higher.
About Vodafone Idea
Vodafone Idea Limited is an India-based telecom service provider. It provides pan-India voice and data services across second-generation (2G), third generation (3G) and fourth generation (4G) platforms. Its Vodafone Idea business services provide communication solutions to global and Indian corporations, public sector and government bodies, small and medium enterprises, and start-ups. It offers voice services, broadband services, and content and digital offerings. Its other services include entertainment services, such as sports, interactive voice response (IVR)- based content, wireless application protocol (WAP)-based games; voice and short message service (SMS)-based services, such as caller tunes, voice and SMS chat, star talk, expert advice, and subscriptions services; and utility services, such as missed call alerts, doctor on call and astrology services. Its subsidiaries include Vodafone Idea Manpower Services Limited, Vodafone Idea Business Services Limited, among others.