Shares of Vodafone Idea (Vi) came under heavy selling pressure on Wednesday, December 31, plunging as much as 15% in intraday trade to hit the lower circuit on the BSE amid reports related to its adjusted gross revenue (AGR) liabilities.
The stock opened at ₹12.14, marginally higher than its previous close of ₹12.07, but soon reversed course and slid sharply to hit its lower price band of ₹10.26 during the session.
The sudden decline followed media reports suggesting that the Union Cabinet had decided to freeze Vodafone Idea’s AGR dues at ₹87,695 crore. The development appeared to dampen investor sentiment, triggering aggressive selling in the telecom stock during intraday trade.
Vodafone Idea has been grappling with a significant debt burden and large statutory dues, making any policy-related developments on AGR closely tracked by the market. The stock’s sharp intraday fall highlights the heightened sensitivity of investor sentiment to regulatory and government decisions concerning the telecom sector.
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