Vodafone Idea, Indus Towers Shares Drop 15% as Supreme Court Upholds AGR Ruling | BulletsIn

On September 19, telecom stocks, including Vodafone Idea and Indus Towers, plummeted after the Supreme Court dismissed pleas from telecom companies to recalculate adjusted gross revenue (AGR) dues. This ruling leaves Vodafone Idea in a challenging financial position as they sought relief.

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• Supreme Court rejected curative petition on AGR recalculation.
• Vodafone Idea shares dropped by over 15%, Indus Towers down 14%.
• Bharti Airtel shares slightly up by half a percent.
• Vodafone Idea petition asked for correction of errors, limited penalties, and reduced interest.
• Court ruling adds pressure to Vodafone Idea’s cash flow situation.
• Bharti Airtel may benefit from potential market share gains.
• Raising debt crucial for Vodafone Idea’s survival; court decision complicates this.
• Goldman Sachs reaffirmed its bearish stance on Vodafone Idea on September 6.
• Vodafone Idea expected to lose 300 basis points of market share over next 3-4 years.
• Best-case value for Vodafone Idea shares seen at Rs 19, under optimistic scenarios.