Why is Vodafone Idea share price skyrocketing today? EXPLAINED
Vodafone Idea share price jumped over 8% to a four-month high on Monday, led by heavy volumes. Vodafone Idea shares rallied as much as 8.21% to ₹8.30 apiece on the BSE.
The rally in Vodafone Idea shares came after reports said that the Supreme Court will hear the telecom operator’s petition challenging additional adjusted gross revenue (AGR) dues of ₹9,450 crore on Friday, September 19.
Company’s Petition
Vodafone Idea has approached the apex court seeking to quash the Department of Telecommunications’ (DoT) demand, arguing that the revised calculation exceeds the scope of the Supreme Court’s 2019 ruling on AGR liabilities. The company, through a writ petition filed on September 8, contended that certain amounts have been…
