The Idea share price witnessed a sharp fall of nearly 10% today, touching a day’s low of ₹6.66 on the BSE. The decline came after the government clarified that no further relief would be provided on Adjusted Gross Revenue (AGR) dues. This announcement has added pressure on the telecom operator, which is already struggling under heavy debt.
Just a day earlier, the stock had surged more than 10% on hopes of fresh financial aid. However, the official denial of further concessions quickly reversed investor sentiment, leading to heavy selling in the market.
The Idea share price now remains under stress as the company faces challenges in managing its massive AGR liabilities, estimated to be around ₹75,000 crore. This has raised concerns over its financial health and long-term sustainability, with analysts pointing out that fresh fundraising and operational improvements will be critical.
On a slightly positive note, Vodafone Idea recently posted a smaller-than-expected loss for the June quarter and announced the appointment of Abhijit Kishore as its new Chief Executive Officer. While this leadership change could bring strategic shifts, market confidence is still weak given the uncertainties surrounding future government support.
Key Highlights:
-
Idea share price dropped nearly 10% to ₹6.66 after AGR relief was ruled out.
-
Stock had gained over 10% earlier on speculation of possible financial aid.
-
Heavy AGR liabilities continue to weigh on investor confidence.
-
Company appointed a new CEO after posting narrower quarterly losses.
Risk Disclaimer:
Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Stock market investments are subject to risks. Please consult a certified financial advisor before investing.
