Vodafone Idea shares in focus on Tuesday after important remarks on AGR dues by Finance Secretary

Vodafone Idea Ltd. shares will be in focus on Tuesday, February 4, after Finance Secretary Tuhin Kanta Pandey told CNBC-TV18 that a decision on the Adjusted Gross Revenue (AGR) dues is “yet to be taken,” hinting that the proposal is under consideration.

“You will come to know when it comes,” Pandey told CNBC-TV18 at an event to discuss the Union Budget 2025.

When asked about whether the proposal is under active consideration, Pandey said “This has been under discussion because unless and until it is decided, it is not decided. It has to be decided.”

In an interaction with CNBC-TV18 post the Union Budget on February 1, Union Communications minister Jyotiraditya Scindia said that he will not comment on media reports suggesting that the government may waive off AGR dues, neither will he comment on whether there is a proposal or not.

“You will hear for me when it happens and if it happens,” Scindia said, adding that the Supreme Court has passed a judgement and it stands as it is.

Vodafone Idea’s current AGR dues are likely to be around ₹80,000 crore.

Shares of Vodafone Idea had surged as much as 10% on the day of the Union Budget, ended with gains of close to 7% but fell nearly 6% on Tuesday, in-line with the pressure in the global markets. The stock ended Monday’s session at ₹9.08, still below its FPO price of ₹11 and over 50% below its 2024-peak of ₹19.18.