Vodafone Idea and Indus Towers faced significant declines on Thursday, September 19, after the Supreme Court rejected curative petitions from telecom companies in the Adjusted Gross Revenue (AGR) dues case. Vodafone Idea’s stock dropped as much as 19% to intra-day low Rs 10.36 on NSE, raising concerns over the financial obligations facing the sector.
Concurrently, Indus Towers experienced a 12% decline—its largest single-day drop since June 4—hitting a lower circuit limit of Rs 384.80 on the Bombay Stock Exchange (BSE).
How Much Are the AGR Dues?
This decline follows a recent Supreme Court ruling regarding the Adjusted Gross Revenue (AGR) case, which upheld the AGR demand against telecom companies. The court’s decision reaffirmed the quantum of the AGR dues, raising concerns among investors.
Currently, Vodafone Idea is facing AGR dues totaling Rs 70,300 crore, further impacting the market sentiment surrounding related stocks. Investors are likely to remain cautious as the implications of the ruling unfold.
Indus Towers Stock Performance in Last One Year
In terms of stock performance, Indus Towers shares have demonstrated mixed returns across multiple time frames. Over the past month, the stock has given negative returns of 6.02% return. The last six months have seen even more impressive results, with a substantial increase of 65.25%, indicating a strong upward trend.
Year-to-date, Indus Tower shares have surged by 94.18%, reinforcing the stock’s positive momentum in the current fiscal year. Looking at the broader picture, the stock has delivered an impressive return of over 116.51% in the last twelve months, emphasizing its sustained growth and attractiveness to investors.
Vodafone Idea Stock Performance in Last One Year
The shares of Vodafone Idea have demonstrated negative returns across various time intervals. In the last month, the stock delivered a negative return of 31.22%. Over the past six months, it exhibited a significant decline, with negative returns of 14.63%, indicating a strong downtrend.
Year-to-date figures further emphasize the stock’s bearish trend, recording negative returns of 35.47%. Looking at the broader horizon, the shares have shown consistent weakness, with negative returns of 2% over the last year.
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