Vodafone Idea shares gain ahead of SC hearing
Vodafone Idea's stock got a boost on Thursday, ending 1% higher during the day, all because the Supreme Court is about to hear its challenge against an extra ₹9,450 crore demand from the Department of Telecommunications (DoT).
This demand comes on top of what was already settled by a 2019 court ruling for dues up to FY17.
DoT's math is off, claims Vodafone Idea
This is more than just a big number—Vodafone Idea says DoT's math is off and wants a full review, claiming some amounts are counted twice.
The government owns nearly half the company after converting ₹53,000 crore in dues into equity following the 2021 support package but has made it clear there won't be any more bailouts.
Supreme Court pushes hearing to September 26
The Supreme Court has pushed the hearing to September 26, saying it's time for answers.
DoT insists these are just accounting tweaks not covered by earlier judgments.
Even with shares up almost 30% over three weeks, Vodafone Idea's price still lags behind its public offer level—so while investors are hopeful, everyone's waiting to see how this legal battle plays out.