Tue Jan 21 01:54:12 UTC 2025: ## Vodafone Idea Shares Surge on AGR Dues Waiver Hopes

**Mumbai, India** – Shares of Vodafone Idea (VIL) experienced a significant surge on Monday, reaching an intraday high of Rs 10.48, a nearly 15% increase. The jump follows media reports suggesting the Indian government may waive 50% of the interest and 100% of the penalties associated with the company’s Adjusted Gross Revenue (AGR) dues.

The stock, which opened at Rs 10.03 after closing at Rs 9.12 on Friday, was trading at Rs 10, representing a 9.65% increase and a market capitalization of Rs 69,839.22 crore at the time of writing. While this represents a considerable gain, it remains significantly below the stock’s 52-week high of Rs 19.15 (reached June 28, 2024) and its 52-week low of Rs 6.60 (November 22, 2024).

The potential AGR dues waiver, stemming from a 2019 Supreme Court ruling, would provide substantial relief to the telecom industry, particularly VIL and Bharti Airtel. Reports indicate a possible announcement in the upcoming budget, marking the second such measure since September 2021. The Supreme Court closed the telcos’ final legal avenue regarding AGR dues in September 2024, making a waiver particularly impactful.

Despite the recent surge, JM Financial Institutional Securities Limited maintains a “SELL” rating on VIL shares and a “HOLD” on IndusTowers, citing concerns about VIL’s long-term sustainability and its continued dependence on government support. While the potential waiver would be positive for VIL and IndusTowers, its impact on Bharti Airtel is seen as positive while Jio is considered neutral. VIL shares have shown considerable volatility recently, gaining 35.14% in the past month but falling 37.07% over the past six months.

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