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Vodafone Idea Shares Today: Vodafone Idea’s stock came under pressure on Thursday after the Supreme Court’s written order in the adjusted gross revenue (AGR) case clarified that the company’s relief is confined only to additional dues worth Rs 9,450 crore. The telecom operator’s massive pending liability of Rs 83,400 crore continues to remain payable under the earlier verdict.

The stock fell over 10 per cent on Thursday in early trade.

According to the detailed order uploaded on Wednesday, the apex court has allowed recalculation only for the fresh AGR demand raised by the Department of Telecommunications (DoT). The earlier dues — which include interest and penalties — stand unchanged under the 2020 ruling.

Vodafone Idea had moved the Supreme Court on September 8 against the DoT’s additional demand, arguing that it went against the final 2019 judgment which had already capped liabilities up to FY17. Despite the supreme court’s previous stance that barred any revision, the DoT had gone ahead with new demands, citing these as corrections rather than recalculations. The latest order has now drawn a clear line, restricting any reworking to the new claim alone.

The company continues to shoulder one of the heaviest financial burdens in the telecom sector. As per the 2020 Supreme Court directive, Vodafone Idea is required to start repaying about Rs 18,000 crore annually towards its AGR dues beginning March 2026. Despite Vodafone Idea's repeated request for government intervention or waiver, no relief has been granted so far.

The company executives have cautioned that without any meaningful financial support, Vodafone Idea’s operations may remain viable only until FY26, raising renewed concerns about its long-term survival and the threat of duopoly in the telecom sector.

Investor sentiment weakened following the release of the order. Vodafone Idea’s shares have fallen nearly 11 per cent in a single day on Thursday and are down 12 per cent over the past week. However, the longer-term performance paints a mixed picture — the stock is up around 2 per cent in the past month, 17 per cent over six months, and 8 per cent over the last year. Over a five-year horizon, it remains down roughly 5 per cent.

Analysts said the near-term pressure reflects the market’s disappointment with limited legal relief, but the company’s network and new service initiatives may provide some operational cushion.

Even as legal challenges persist, Vodafone Idea is moving ahead with a new initiative aimed at improving customer experience. The company, alongside Reliance Jio, has launched a pilot program for caller name display services in Haryana, following approvals from both the Telecom Regulatory Authority of India (TRAI) and the Department of Telecommunications (DoT).

Under this pilot, users will be able to see the caller’s verified name based on their registered connection details — similar to third-party applications but integrated natively into telecom networks.

The DoT has come up with a proposal of a nationwide rollout of the caller name display feature by March 31, 2026, with Vodafone Idea already commencing trials in Haryana. Jio, meanwhile, plans to conduct tests for calls originating across India.

Senior Sub-editor at Zee Business English

shweta.shukla@India.com

Shweta Birendra Shukla is a journalist covering the stock market and corporate aff