Telecom major Vodafone Idea is expected to be in focus on Friday, December 26, after the company received two GST penalty orders from tax authorities in Mumbai and Bengaluru, totaling over ₹83 crore, according to its regulatory filing.
The Deputy Commissioner of State Tax, Andheri Division, Mumbai, issued a penalty of ₹79.56 crore along with applicable demand and interest, related to alleged additional charges on license fees and spectrum usage for FY 2018–19. Meanwhile, the Office of the Principal Commissioner of Central GST, Domlur Commissionerate, Bengaluru, confirmed a penalty of ₹3.58 crore, concerning alleged short payment of tax and excess input tax credit claims for FY 2018–19 to FY 2022–23.
Vodafone Idea stated that the maximum financial impact would be limited to the tax demand, interest, and penalties, and clarified that it does not agree with the orders. The company plans to take appropriate legal action for rectification or reversal of these penalties.
Share Price Recovery and Market Sentiment
The stock has rebounded nearly 100% from August lows, trading around ₹12 per share, supported by positive investor sentiment following better-than-expected September-quarter results. Reports of further tariff hikes in 2026 and the Supreme Court allowing the government to consider full relief on Vodafone Idea’s dues have also fueled the rally.
For Q2FY26 (September-ending quarter), the company reported a net loss of ₹5,524.2 crore, an improvement from ₹7,176 crore in the same period last year. Sequentially, the loss narrowed from ₹6,608 crore in the June quarter.
Last week, Vodafone Idea raised ₹3,300 crore via secured non-convertible debentures (NCDs) through its subsidiary, supporting its capital expenditure plans and growth initiatives. The stock is currently trading comfortably above its FPO price of ₹11, which it first crossed in mid-November 2025.
Disclaimer:
This article is for informational purposes only and should not be construed as investment advice. Investors are advised to conduct their own research and consult a qualified financial advisor before making any investment decisions. Stock prices are subject to market risks and can fluctuate based on multiple factors.
