Vodafone Idea Shares Plunge on Government’s AGR Dues Stance

Vodafone Idea Ltd. shares plummeted as much as 10% in early Mumbai trading after government officials ruled out relief for the telecom operator's massive adjusted gross revenue liabilities. The stock opened at ₹7.10, down sharply from Friday's close of ₹7.40, before hitting an intraday low of ₹6.60.

Trading volumes surged with 8.7 million shares changing hands in the morning session alone. Market sentiment turned decisively negative after the communications minister's unambiguous statement eliminated hopes for regulatory intervention. Sell orders outpaced buys throughout the session, reflecting eroding investor confidence in the company's ability to service its debts without government support.

The selloff extends a brutal year for Vodafone Idea shareholders, with shares now trading NEAR their 52-week low of ₹6.12. The stock has lost nearly 60% of its value since peaking at ₹16.55 last August. Analysts suggest the absence of AGR relief could force the cash-strapped carrier to make difficult choices about capital allocation and operational sustainability.