Shares of Vodafone Idea continued their upward trajectory today, fueled by investor optimism despite the company's ongoing financial challenges. Currently, the shares are up by 1.07%, trading at ₹8.50 on the BSE, after reaching an intra-day high of ₹8.67, marking a rise of 3.09%. Shares of Vodafone Idea surged over 12 on Friday, September 19, 2025, even as the markets traded in the red. the stock opened with minor gain at Rs 7.89 on the BSE against the previous close of Rs 7.85 on the BSE. However, it surged further to touch the high of Rs 8.82, a gain of 12.35 per cent from the previous close. The stock ended the session in green at Rs 8.41, a gain of 7.13 per cent.
The development comes amidst the ongoing Adjusted Gross Revenue (AGR) dues case. The Department of Telecommunications’ (DoT) demand of ₹9,450 crore has been challenged by the company, which cited duplication and errors, attributing ₹2,774 crore to post-merger and ₹5,675 crore to pre-merger Vodafone Group liabilities. The Supreme Court deferred the hearing on the plea to 26 September 2025, after the Indian government indicated it does not oppose the company’s request. With the Centre holding a 49% equity stake, officials noted that “some solution may be required,” providing clarity on the legal front that has been a significant overhang for the stock. Trading volumes indicate steady activity, with investors closely monitoring AGR developments.
The company has emphasised that resolving the AGR issue is critical to enabling future capital expenditure plans and clarifying obligations with lenders. The government became Vodafone Idea’s single-largest shareholder after converting Rs 36,950 crore of spectrum dues into equity in March this year. A similar step was taken in 2023, when it acquired around a 33% stake against dues worth Rs 16,000 crore. Despite these measures, Vodafone Idea has admitted in court filings that survival without government support remains uncertain.