Vodafone Idea share price saw a sharp decline during morning trades on Tuesday, falling by over 5%. This comes after the company issued a clarification on the rumored government waiver of Adjusted Gross Revenue (AGR) dues.
Vodafone Idea’s share price today opened at Rs 9.94 apiece and reached a low of Rs 9.42 during the early trading session.
Stock performance: From Monday’s surge to Tuesday’s dip
Share price of Vodafone Idea, which soared nearly 10% on Monday amid reports of a possible AGR dues waiver, closed with gains of over 9%.
However, the momentum reversed on Tuesday, with the stock opening flat at Rs 9.94, compared to its previous close of Rs 9.95. It soon dropped sharply, losing 5.03% by mid-morning.
What sparked the movement in Vodafone Idea’s share price?
The sharp price movement was fuelled by reports suggesting that the government was considering a waiver of AGR dues amounting to Rs 1 lakh crore for telecom companies.
However, the company in an exchange filing on January 20, issued a clarification that it had not received any official communication regarding such a waiver.
Also Read: Vodafone Idea says ‘no communication yet’ on media reports of govt weighing Rs 1 lakh crore AGR dues waiver
In the regulatory filing, the company added, “With reference to the news article appeared in Mainstream Media on 18 January 2025, titled “In Big Relief to Telcos, Govt weighs over ₹1 lakh crore AGR dues waiver” and the consequent material price movement in the Scrip of the Company today i.e. on 20 January, 2025.”
“We have not received any communication from the Government in relation to the above reported matter. As and when there is any development which requires disclosure, we will do the needful,” added the company in the BSE filing.
Vodafone Idea Vs Nifty 50
Vodafone Idea share price is currently priced at Rs 9.46. Over the past 5 days, the share price of Vodafone Idea surged to 12.22%. However, looking at a broader timeframe, the stock has seen a decline of 40.47% over the past six months, and a 34.31% drop over the past year.
The market capitalisation of Vodafone Idea stands at 66.06K crore. Over the past 52 weeks, the stock has fluctuated between a high of Rs 19.18 and a low of Rs 6.61.
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