Vodafone Idea: SC defers AGR plea hearing to October 6; VIL stock reacts
Vodafone Idea fell to a low of Rs 7.90 apiece, before recovering some of the lost ground. It was later trading 5.88 per cent lower at Rs 8.17.
- Sep 26, 2025,
- Updated Sep 26, 2025 1:13 PM IST
Shares of Vodafone Idea Ltd fell 6 per cent in Friday's trade after the Supreme Court reportedly deferred hearing on Vodafone Idea AGR matter to October 6. As per a media report, Solicitor General had sought more time on behalf of Department of Telecommunications (DoT).
The SC had earlier deferred hearing of Vodafone Idea's petition against the DoT demand of Rs 9,450 crore in additional Adjusted Gross Revenue (AGR) on September 19. The SC bench at that time said that there needs to be some finality to the proceedings.
The VIL stock fell to a low of Rs 7.90, before recovering some of the lost ground. It was later trading 5.88 per cent lower at Rs 8.17. The stock, which is still up 21 per cent for the one-month period, saw global brokerage Citi calling it a 'high-risk buy' recommendation earlier this week.
Vodafone Idea, as per reports, argued the new demand goes beyond the parameters set in the apex court’s previous ruling on AGR liabilities. In its plea, Vodafone Idea sought to nullify the fresh demand and called for a comprehensive reconciliation of dues, especially those accrued before FY17.
Citi suggested a price target of Rs 10 on the stock, saying chances of a potential relief for the company have increased. JM Financial in a note earlier this month maintained 'Hold' on the VIL stock with an unchanged target price of Rs 9.
Key monitorables for Vodafone Idea that can pose upside risks to its valuation include further relief from government dues either via partial waiver of AGR dues and/or allowing surrender of pre-2022 spectrum, conversion of more dues to equity and extension of moratorium, analysts noted.
JM Financial said multiple sharp tariff hikes that can result in VIL’s blended ARPU being significantly above the prevailing estimate of Rs 183 in FY26, Rs 207 in FY27 and Rs 229 FY28 against Rs 165 in Q1FY26. JM said another upside could come from VIL’s subscriber growth being significantly above JM's assumption of 1 per cent growth per annum.
Shares of Vodafone Idea Ltd fell 6 per cent in Friday's trade after the Supreme Court reportedly deferred hearing on Vodafone Idea AGR matter to October 6. As per a media report, Solicitor General had sought more time on behalf of Department of Telecommunications (DoT).
The SC had earlier deferred hearing of Vodafone Idea's petition against the DoT demand of Rs 9,450 crore in additional Adjusted Gross Revenue (AGR) on September 19. The SC bench at that time said that there needs to be some finality to the proceedings.
The VIL stock fell to a low of Rs 7.90, before recovering some of the lost ground. It was later trading 5.88 per cent lower at Rs 8.17. The stock, which is still up 21 per cent for the one-month period, saw global brokerage Citi calling it a 'high-risk buy' recommendation earlier this week.
Vodafone Idea, as per reports, argued the new demand goes beyond the parameters set in the apex court’s previous ruling on AGR liabilities. In its plea, Vodafone Idea sought to nullify the fresh demand and called for a comprehensive reconciliation of dues, especially those accrued before FY17.
Citi suggested a price target of Rs 10 on the stock, saying chances of a potential relief for the company have increased. JM Financial in a note earlier this month maintained 'Hold' on the VIL stock with an unchanged target price of Rs 9.
Key monitorables for Vodafone Idea that can pose upside risks to its valuation include further relief from government dues either via partial waiver of AGR dues and/or allowing surrender of pre-2022 spectrum, conversion of more dues to equity and extension of moratorium, analysts noted.
JM Financial said multiple sharp tariff hikes that can result in VIL’s blended ARPU being significantly above the prevailing estimate of Rs 183 in FY26, Rs 207 in FY27 and Rs 229 FY28 against Rs 165 in Q1FY26. JM said another upside could come from VIL’s subscriber growth being significantly above JM's assumption of 1 per cent growth per annum.