Vodafone Idea called an investors meeting after getting a jolt from the Supreme Court and the stock falling

Vodafone Idea Share Price: After the shock of the Supreme Court’s decision in the AGR case, Vodafone Idea has called an emergency meeting with investors and analysts on Monday 23 September 2024. After this decision of the court, on Thursday 19 September 2024, after the decision of the Supreme Court, Vodafone Idea’s stock (Vodafone Idea Share Price) saw a decline of 20 percent.

In a regulatory filing with the stock exchanges, the country’s third largest telecom company Vodafone Idea said that a meeting has been called with investors and analysts to give updates on the recent developments. The company said that the company’s senior management will be present in this conference call and will give its opinion on the recent events. Other senior officials including the company’s CEO Akshay Mundra will be present in the meeting.

The Supreme Court had rejected the curative petition seeking review of the court’s old order on AGR dues of telecom companies. Vodafone Idea and Bharti Airtel had filed this petition in which the method of calculation of AGR dues was questioned. After this decision of the Supreme Court, Vodafone Idea stock fell by 20 percent. On Friday also, the stock fell by about 5.68 percent to below Rs 10. However, after recovering from the lower level, the stock closed at Rs 10.47 with a jump of 0.87 percent.

Vodafone Idea had an AGR amount of Rs 70,320 crore outstanding till the end of the financial year 2023-24. In its petition, the company told the court that the company is facing financial crisis and its existence has been questioned.

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