Vodafone Idea 39% overturned by Supreme Court dismissing review petition

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Ahmedabad. January 17, 2020, Friday

Today, after the Supreme Court rejected the review petition of the telecom companies, the prices of the shares of telecom companies have dropped. Vodafone Idea shares were up 5%.

The Supreme Court has rejected the application of Vodafone India, Bharti Airtel and Tata Teleservices on the AGR (Adjusted Gross Revenue) issue. The court said that after reviewing the review petition, we did not find any reason to validate it. The review petition is therefore dismissed.

Telecom companies applied to the Supreme Court to review the October 8 ruling in which the definition of AGR was expanded. Telecom companies will pay additional license fee, spectrum usage charge (SUC), penalty and interest as Rs. 1.5 lakh crore is to be paid.

Telecom companies had dropped prices as telecom companies had to pay Rs 1.8 lakh crore after the Supreme Court rejected the petition.

Vodafone Idea shares closed up 5% on BSE this afternoon at Rs. Trading was trading at a price of 5.4. Even on the NSE, the company's stock rose 5.9% to Rs. Trading was trading at 5.7, which closed at a low of 5% at the end of trading. Bharti Airtel shares closed 5% higher after a favorable report after falling initially. However, Bharti Infratel fell soft by 5 percent.


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